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Weather Forecasting Services Market by Industry, Purpose, Forecasting Type and Region - Global Forecast to 2021

Weather Forecasting Services Market: Global Forecast until 2021

  • November 2016
  • 161 pages
  • ID: 4407702
In this report:
The weather forecasting services market size is expected to be USD ##,##.## million in 2016 and is projected to grow to USD ##,##.## million by 2021 at a CAGR of ##.##%.
In 2013, the agriculture and agriculture-related industries contributed USD ##.## billion to the gross domestic product (GDP) of the U.S., which accounted to a share of ##.##% of the total GDP of the country in 2013.

Summary

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"Growing demand for more reliable and accurate weather forecast is a main factor driving the weather forecasting services market globally''

The weather forecasting services market is forecasted to grow from ~$1.1B in 2016 to ~$1.6B by 2021, at a compound annual growth rate of ~7.2 percent during the forecast period. Elements such as quick industrialization, increase in transportation (aviation and shipping), and constant measures to minimize greenhouse gas emissions, and rise in production of clean energy are influencing the increase of the weather forecasting services market. Main functions of weather forecasting services contain issuing disaster warnings, giving information to optimize operations, and growing the efficiency of markets, which extensively rely on weather for operations. Nevertheless, aspects including complex process of forecasting and uncertainty of forecasts may limit its market rise.

"Established on market, the renewable energy segment is anticipated to rise at the maximal compound annual growth rate (CAGR) during the estimate period"

Established on sector, the renewable energy segment is expected to rise at the highest CAGR (Compound annual growth rate) during the outlook period. Governments are deploying renewable energy power plants efficiently to supplement energy requirements of countries, thereby reducing emission of greenhouse gases and contributing to clean energy. These factors have fueled the increase of renewable energy sectors.

"Established on forecast type, the medium range segment is anticipated to grow at the highest level rate during the estimate period"

Established on forecast type, the medium range segment is forecasted to dominate the weather forecasting services market during the outlook period. New developments including advance data analytics and machine learning techniques of computers have increased accuracy and reliability of forecasts over medium range. These technological advancements have fueled the rise of the weather forecasting services market for medium range.

''The weather forecasting services market in Asia-Pac is expected to grow at the maximal rate during the estimate period"

The weather forecasting services market in Asia-Pac is expected to account for the biggest market share in 2016. The weather forecasting services market in Asia Pacific (APAC) is anticipated to rise at the highest compound annual growth rate (CAGR) during the outlook period. Elements such as increase of air & sea transport, dependency on rainfall for water, improving economic conditions in the Asia Pacific (APAC) area, and rising concerns for safety & security are forecast to steer the Asia-Pacific weather forecasting services market.

Break-up of primary interviews conducted for research study:

- By Company Type - Tier 1 - 35.0 percent, Tier 2 - 45.0 percent, and 1/3 3 - 20.0 percent

- By Description - C-suite - 35.0 percent, D-level - 25.0 percent, and Others - 40.0 percent

- By area - North america (NA) - 45.0 percent, Europe - 30.0 percent, APAC - 20.0 percent, RoW - 5.0 percent

Top players in the weather forecasting services market are StormGeo, The Weather Company, Fugro, and ENAV S.p.A, among others.

Segment Research

The weather forecasting services market has been split on the basis of market, forecasting type, and purpose. Established on market, the weather forecasting services market has been divided into renewable energy, shipping, oil & gas, media, aviation, utilities, retail, agriculture, insurance, and others. Established on purpose, the weather forecasting services market has been divided into operational efficiency, safety, and others. On the basis of forecast type, the sector has been categorized into short range, medium range, and long range.

Why Purchasing This Study Can Help You:

From an insight prospect, this market research has emphasized different levels of review (sector trends, market share research of top players, value chain study, and company descriptions), which together comprise and examine basic views on opposing landscape, coming out and high-growth segments of the weather forecasting services market, high-growth areas and territories, with sector drivers, market restraints, and alternatives.

The analysis offers business insights into these pointers:

- Business entry: Exhaustive information on weather forecast provided by top 10 actors in the weather forecasting services market

- Product improvement/Innovative products: In-depth understanding on analysis & growth activities and recent product launches in the weather forecasting services market

- Industry development: Highlighted information about emerging sectors - the market research examines the weather forecasting services market across localities

- Industry diversification: Complete information about recent products, untapped areas, recent evolutions, and market investments in the weather forecasting services market

- Opposing assessment: Detailed assessment of market shares, strategies, and products of leading actors in the weather forecasting services market

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