According to our latest market study on “Weather Forecasting Services Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Industry, Purpose, Forecasting Type, and Organization Size,” the market was valued at US$ 1,501.00 million in 2021 and is projected to reach US$ 2,732.2 million by 2028; it is expected to grow at a CAGR of 8.9% from 2021 to 2028.   

The rising awareness among the individuals about clean energies and strong demand from several prominent non-profit government organizations for them have significantly favored their uptake globally. It has led to a decrease in uncertainties toward climate change. For instance, according to one of the United Nations Environment Programme (UNEP) research, in 2019, the global investment into renewable energy rose to 1% from 2018 and was valued at US$ 282.2 billion. Furthermore, the US-registered 28% increase in their investment for renewable energy, whereas, the European region witnessed a decline of 7% in 2019 for their clean energy-related spending. Overall, the total global investment in renewable energy and clean energy saw a steady rise in investment, especially in the past few years.

Weather forecasting is a consulting service that delivers real-time forecasts and aids in efficient day-to-day planning and informed decision-making in various industrial settings. Advanced weather notifications enable enterprises to plan weather-sensitive operations ahead of time, ensuring safety, efficiency, better sustainability, and significant cost savings. Weather forecasting services are used extensively in various industries, including oil and gas, renewable energy, shipping, media, agriculture, aviation, utilities, and construction. Over the projection period, the renewable energy sector is expected to dominate the market, owing to increased electricity consumption and energy requirements in various end-use industries. Various industrial enterprises are being encouraged to cut their greenhouse gas emissions to produce clean energy due to further strong government measures aimed at substituting non-renewable resources with renewable energy. During the forecast period, these factors are anticipated to increase demand for weather forecasting services.The Medical Device Testing Services market is highly competitive in nature with a considerable number of players, having a high level of consolidation overall revenue share. Most of the companies operating in the Medical Device Testing Services market are present across the globe and have wide distribution and sales network through partnerships or authorized dealers.

Changing Climate Patterns Resulting in Uncertainties in Rainfall

With a constant increase in the temperature and the air becoming warmer, water evaporation has intensified, leading to frequent downpours and heavy snowfall. This heavy precipitation is not spread evenly across the world with some places not getting required amount of precipitation. Since climate change causes a shift in air and ocean currents, it changes weather patterns. The rising incidence of natural disasters due to undesired climatic changes and subsequent security concerns has surfaced as the key factor behind the growth in the global weather forecasting services market. Advanced and reliable weather forecasting achieved within the stipulated time can lead to significant cost savings and also help with protection against catastrophes and natural disasters. The technological advancements in computing systems, such as advanced data analytics, model development, and machine learning tools and techniques, are likely to boost he demand for weather forecasting services during the forecast period.

Weather Forecasting Services Market: Competitive Landscape and Key Developments

Accuweather, Inc., BMT Group Ltd., Skymet Weather Services Pvt. Ltd., Precision Weather, The Weather Company, Fugro, Enav S.p.A., Met Office, and Skyview Systems Ltd. are a few major players in the market. The players adopt various key developmental strategies, such as product launch and business expansion, to offer better products and services to customers in the weather forecasting services industry.

A few of the latest developments in the weather forecasting services market are as follows:

In June 2021, AccuWeather partnered with aWhere to expand weather forecasting insights for business.

In March 2021, Microsoft entered into partnership with weather forecasting firm AccuWeather to integrate its weather data into Azure Maps.

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