Report Id: SNS/A&D/2430 | July 2022 | Region: Global | 140 Pages
Report Scope & Overview:
Weather Forecasting Systems Market Size was valued at USD 2.9 billion in 2021 and US$ 3.0 billion in 2022, expected to reach USD 4.16 billion by 2028, and grow at a CAGR of 5.3% over the forecast period 2022-2028.
Weather forecasting services encompass a wide range of meteoro logically related methods, tools, solutions, and approaches. The process of weather forecasting comprises the use of numerous techniques to analyse atmospheric data and offer current or future weather formats for a specific location. Weather forecasting makes extensive use of structured and unstructured data to boost analytical output while increasing revenue for a variety of end-use industries.
The market is growing due to expansion in the aviation and shipping industries, as well as an increase in safety concerns among end-use industries. Furthermore, increased generation of renewable energy fuels industry expansion. However, the difficulties connected with weather forecasting models and a shortage of experienced labour are projected to stymie market expansion.
Furthermore, technological advancements in computing systems and the expansion of the transportation industry in developing countries are expected to provide lucrative opportunities for the growth of the weather forecasting services market.
Continuous weather monitoring is required to enable disaster management.
Climate change patterns are causing rainfall uncertainties.
Atmospheric variables have a dynamic nature.
Model complexity in weather forecasting
Weather monitoring using high-end radar and tiny satellites
Increasing supercomputer computational capabilities for weather forecasting
The occurrence of misleading weather warnings
A substantial capital investment is required.
THE IMPACT OF COVID-19
The grounding of the worldwide aviation fleet has resulted in a sharp decrease in the movement of commercial aircraft, which is a main source of critical weather data. Meteorological agencies use this data to improve the accuracy of weather predictions, including the occurrence of catastrophic weather events such as hurricanes. For example, by the end of March 2020, the data produced by the US-based aircraft fleet had decreased by 50%, while the readings provided by aircraft across North America had decreased by 80%, according to the European Centre of Medium Range Weather Forecasts.
The centre calculated that if all data given by North America's aircraft fleet were suddenly unavailable, weather forecast accuracy would fall by an average of 15%. In the shipping business, a similar paradigm can be observed. Sea-based measurements are critical for forecasting weather over the oceans as well as maintaining long-term records of ocean health and climate changes. However, the number of shipboard observations has been continuously falling since March 2020, with a 15% loss of stations accounted for since the epidemic. The short-term outlook for the weather forecasting systems market is ultimately contingent on governments' swift response to the COVID-19 outbreak, the efficiency of their efforts, and the ongoing pandemic's influence on the global economy.
Weather satellites are expected to lead the weather forecasting systems market from 2021 to 2028, and this segment is expected to grow further due to the increasing need for earth monitoring and weather observing systems to measure, monitor, and provide valuable inputs on a variety of climatic parameters.
The aviation segment dominated the weather forecasting services market by end-use industry in 2021 and is likely to maintain its dominance in the future years, owing to increased connectivity of aerospace IT infrastructure in the aviation industry. However, the transportation category is predicted to grow at the fastest rate over the projection period, as transportation system security can directly influence operational safety and productivity in the industry, as well as indirectly impact services.
The market is divided into three segments based on forecast range: short-range forecast, medium-range forecast, and long-range forecast. The Medium-Range Forecast category is expected to grow the fastest over the anticipated time period. This time span is between 7 and 10 days. It is used in areas including as agriculture, water management, and flood control. Medium-Range weather information is useful when firms make minor operational plan decisions.
Weather forecasting systems are used in aviation, energy, agriculture, retail, media, and other industries. Weather forecasting services provide early warnings of changes in the weather, allowing businesses to arrange weather-sensitive activities at the proper time, assuring safety and sustainability. As these organisations' security and safety concerns grow, so does the demand for weather forecasting services in order to avoid ecological disasters and natural disasters while also increasing revenue streams. For example, the aviation industry relies on forecasting services to stay current on air traffic control and weather. Furthermore, weather forecasting services offer dependable communication services and products to meet the specific needs of government-centric maritime operations.
Skymet Weather Services Pvt., Ltd., Skyview Systems Ltd., Global Weather Corporation, Accuweather Inc., BMT Group, Fugro, Enav S.p.A, Met Office,Precision Weather, The Weather Company, and other players
Energy & Utilities
Weather Observing Systems
From 2021 to 2028, Asia Pacific is predicted to lead the weather forecasting systems market. The Asia Pacific weather forecasting Systems market is expanding due to a greater emphasis on growing investments in weather forecasting Systems technologies by countries in this area. Furthermore, regional economies have undertaken a number of projects linked to sustainable and renewable energy generation in order to protect the environment and avoid future energy crises. Due to the vulnerability of most renewable energy sources to weather fluctuations, the necessity to maximise energy output mandates the adoption of sophisticated weather monitoring and forecasting systems to assure optimal output, hence boosting the weather forecasting systems market in the region.
Rest of Europe
Rest of Asia-Pacific
The Middle East & Africa
Rest of Middle East & Africa
Rest of Latin America
|Market Size in 2021||US$ 2.9 Billion|
|Market Size by 2028||US$ 4.16 Billion|
|CAGR||CAGR of 5.3% From 2022 to 2028|
|Report Scope & Coverage||Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook|
|Key Segments||• By Type (Short-range Forecasting, Medium-range Forecasting, and Long-range Forecasting)
• By End-use (Transportation, Aviation, Energy & Utilities, BFSI, Agriculture, Media, Manufacturing, Retail, and Others)
• By Application(Weather Satellites, Weather Observing Systems, Weather Stations, Weather Drones, Weather Balloons, Weather LiDAR, Weather Radar, Others)
• By Solution(Hardware, Software)
|Regional Analysis/Coverage||North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
|Company Profiles||Skymet Weather Services Pvt., Ltd., Skyview Systems Ltd., Global Weather Corporation, Accuweather Inc., BMT Group, Fugro, Enav S.p.A, Met Office,Precision Weather, The Weather Company, and other players.|
|DRIVERS||• Continuous weather monitoring is required to enable disaster management.
• Climate change patterns are causing rainfall uncertainties.
|RESTRAINTS||• Atmospheric variables have a dynamic nature.
• Model complexity in weather forecasting
Frequently Asked Questions (FAQ) :
Table of Content:
1.1 Market Definition
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 COVID 19 Impact Analysis
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8.Weather Forecasting Systems Market, by Type
8.1 Short-range Forecasting
8.2 Medium-range Forecasting
8.3 Long-range Forecasting
9.Weather Forecasting Systems Market, by End-use
9.3 Energy & Utilities
10.Weather Forecasting Systems Market, by Application
10.1 Weather Satellites
10.2 Weather Observing Systems
10.3 Weather Stations
10.4 Weather Drones
10.5 Weather Balloons
10.6 Weather LiDAR
10.7 Weather Radar
11.Weather Forecasting Systems Market, by Solution
12. Regional Analysis
12.2 North America
12.3.6 The Netherlands
12.3.7 Rest of Europe
12.4.2 South Korea
12.4.6 Rest of Asia-Pacific
12.5 The Middle East & Africa
12.5.3 South Africa
12.6 Latin America
12.6.3 Rest of Latin America
13.1 Skymet Weather Services Pvt., Ltd.
13.1.2 Products/ Services Offered
13.1.3 SWOT Analysis
13.1.4 The SNS view
13.2 Skyview Systems Ltd.
13.3 Global Weather Corporation
13.4 Accuweather Inc.
13.5 BMT Group
13.7 Enav S.p.A
13.8 Met Office
13.9 Precision Weather
13.10 The Weather Company
14. Competitive Landscape
14.1 Competitive Benchmarking
14.2 Market Share analysis
14.3 Recent Developments
An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.
Each report that we prepare takes a timeframe of 350-400 business hours for production. Starting from the selection of titles through a couple of in-depth brain storming session to the final QC process before uploading our titles on our website we dedicate around 350 working hours. The titles are selected based on their current market cap and the foreseen CAGR and growth.
The 5 steps process:
Step 1: Secondary Research:
Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.
Step 2: Primary Research
When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data. This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.
We at SNS Insider have divided Primary Research into 2 parts.
Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.
This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.
Part 2: In this part of primary research the data collected via secondary research and the part 1 of the primary research is validated with the interviews from individual consultants and subject matter experts.
Consultants are those set of people who have at least 12 years of experience and expertise within the industry whereas Subject Matter Experts are those with at least 15 years of experience behind their back within the same space. The data with the help of two main processes i.e., FGDs (Focused Group Discussions) and IDs (Individual Discussions). This gives us a 3rd party nonbiased primary view of the market scenario making it a more dependable one while collation of the data pointers.
Step 3: Data Bank Validation
Once all the information is collected via primary and secondary sources, we run that information for data validation. At our intelligence centre our research heads track a lot of information related to the market which includes the quarterly reports, the daily stock prices, and other relevant information. Our data bank server gets updated every fortnight and that is how the information which we collected using our primary and secondary information is revalidated in real time.
Step 4: QA/QC Process
After all the data collection and validation our team does a final level of quality check and quality assurance to get rid of any unwanted or undesired mistakes. This might include but not limited to getting rid of the any typos, duplication of numbers or missing of any important information. The people involved in this process include technical content writers, research heads and graphics people. Once this process is completed the title gets uploader on our platform for our clients to read it.
Step 5: Final QC/QA Process:
This is the last process and comes when the client has ordered the study. In this process a final QA/QC is done before the study is emailed to the client. Since we believe in giving our clients a good experience of our research studies, therefore, to make sure that we do not lack at our end in any way humanly possible we do a final round of quality check and then dispatch the study to the client.