The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The increased use of weather monitoring for disaster management is likely to encourage innovation in the production of weather forecasting services, boosting the market over the forecast period.

The global weather forecasting services market is expected to grow from $1.87 billion in 2022 to $2.06 billion in 2023 at a compound annual growth rate (CAGR) of 10.5%. The global weather forecasting services market size is expected to reach $2.94 billion in 2027 at a CAGR of 9.2%.

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Global Weather Forecasting Services Market Segments Include:

• By Type: Onshore Weather Forecasting Services, Offshore Weather Forecasting Services
• By Forecast Type: Nowcast, Short-Range, Medium Range, Extended Range, Long Range
• By Purpose: Operational Efficiency, Safety
• By Organization Size: Large Enterprises, Small And Medium Enterprises
• By Industry: Transportation, Aviation, Energy And Utilities, Banking Financial Services And Insurance (BFSI), Agriculture, Media, Manufacturing, Retail, Other Industries
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America is the largest region in the global weather forecasting services market in 2021.

Major Market Players in the weather forecasting services market include AccuWeather Inc., Fugro NV, Met Office, The Weather Company (IBM), StormGeo AS, Precision Weather Service, DTN LLC., Earth Networks, Spire Global Inc.

Technological advancement is a prominent trend in the market for weather forecasting services. Companies in the market are implementing technology such as artificial intelligence to maintain their market position. For example, in October 2022, Jua.ai AG, a Swiss-based artificial intelligence climate firm that delivers insights and research for weather forecasting, developed an AI-powered platform to supply the meteorological industry with customised weather models. Precipitation, wind speed, air pressure, and wind direction are among the weather-related factors predicted by this model. The model is updated every fifteen minutes, allowing for considerable advances in anticipating extreme events. When compared to conventional options, it has up to 25 times the spatial resolution and ten times the temporal resolution.

The Weather Forecasting Services Global Market Report 2023  provides a weather forecasting services market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The weather forecasting services market forecast analyzes weather forecasting services market size, weather forecasting services market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Weather forecasting services are weather forecasting-related services in which atmospheric conditions for a certain location and time period are forecasted using science and technology. The goal of weather forecasting services is to disseminate information that people and organisations can use to avoid weather-related losses and promote societal benefits such as life and property protection, public health and safety, economic prosperity, and quality of life.

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