According to a new market research report published by Credence Research “Weather Forecasting Services Market (by Forecasting Type: Nowcast, Short-range Forecast, Medium-range Forecast and Long-range Forecast; by End-use Industry: Agriculture & Fisheries, Aviation, Transportation & Logistics, Marine, Energy & Utilities, Media, and Others) – Growth, Future Prospects, and Competitive Landscape, 2018-2026”, the weather forecast solutions market was valued US$ 1,300.5 Mn in 2017 and estimated to grow with a CAGR of 4.6% during the forecast period from 2018 to 2026.
Predicting weather was always a challenging but vital part of human evolution. From agriculture & fisheries to modern day aviation industries depends extensively over precise weather predictions for the desired output and safety. The degree of precision improved significantly with time and especially in last few years. Technologies such as real-time data collection, analytic tools, artificial intelligence and advanced satellite images aiding weather forecasting companies to arrive at more precise and near to accurate weather predictions. Such prediction is proving to indivisible part in earning profits, utilization of resources and even life-saving in critical situations. Perpetual refinement in weather prediction and growing dependency of several end-use industries on forecast projected to propel the growth of weather forecasting services market throughout the forecast period from 2018 to 2026.
At present, weather forecasting for aviation industry dominated the market as weather forecasting can become vital factor for passengers’ safety. Airports and air traffic control keep a hawk eye on slightest change in weather, thanks to weather forecasting. Weather forecasting also aids in reducing the overhead expenses in transportation & logistics and prevent heavy losses due to adverse weather conditions. Various other end-use industries including marine, agriculture & fisheries and most important energy & utilities relay extensively on weather forecast in order to obtain desired results. Significant growth in renewable energy generation also encouraged the weather forecasting services market as most of the renewable energy sources derive energy from elements of nature. Although predicting accurate and precise weather is still an inhibitor for market growth, incorporation of advanced technology can bridge the wide gap between predictions and actual weather conditions in coming years.
Long-term association with end-use industries is one of the most prominent ways for weather forecasting service providers to stay competitive in this highly competitive market. Several local and international companies provide forecasting services but precision can make significant impact on the positions of these companies in the market. Some of the most prominent service providers in global weather forecasting services industry include Global Weather Corporation, AccuWeather Inc., BMT ARGOSS, Skymet Weather Services Pvt. Ltd., Precision Weather Service, The Weather Company, Fugro N.V., ENAV S.p.A., The Met Office and Skyview Systems Ltd among others.
The complete report is available at https://www.credenceresearch.com/report/weather-forecasting-services-market
Key Analysis Covered:
- Latest developments in weather forecasting services market and growth prospects for leading metrological and weather forecasting companies
- Changing weather conditions and environmental conditions creating a positive impact on weather forecasting services market
- Different type services provided to several end-use industries and their market estimations
- Largest and fastest growing segments in terms of forecasting type and end-use industries
- Most prominent geographical regions/ countries for the weather forecasting services market