Weather Forecasting Services Market by Forecasting Type - Global Opportunity and Forecast, 2016-2023

  • ID: 4368975
  • Report
  • Region: Global
  • 122 pages
  • Allied Analytics LLP
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FEATURED COMPANIES

  • Accuweather Inc.
  • BMT Group
  • Enav S.p.A
  • Fugro
  • Met Office
  • Precision Weather
  • MORE
Weather forecasting services can be defined as a technique that implements software, tools, and models, which perform the strategic analysis of atmospheric data to predict weather conditions for a particular location under a stipulated time frame. The process of forecasting follows functionalities of meteorology. Massive volume of structured and unstructured data is utilized by weather forecasting models to deliver improved analytical output that enables optimization of business revenues for various end-use industries. Weather forecasting services are currently implemented by transportation, aviation, energy & utilities, banking financial services & insurance (BFSI), agriculture, media, manufacturing, retail, others. The global weather forecasting services market was valued at $1,205 million in 2016, and is projected to reach $2,777 million by 2023, growing at a CAGR of 13.1% from 2017 to 2023.

The growth of the weather forecasting services market is majorly driven by growth in demand for real-time weather management, increase in demand for performance optimization, development associated with end-use industries, rise in safety concerns among various end-use industries, and others. However, dearth of trained professionals, complexities associated with weather prediction models, and uncertainty of weather prediction are expected to restrain the weather forecasting services market growth. Increase in the production of renewable energy and growth of transportation industry among developing regions are expected to provide lucrative opportunities for market growth.

The global weather forecasting services market is segmented based on forecasting type, end-use industry, and region. On the basis of forecasting type, the market is divided into short-range forecasting, medium-range forecasting, and long-range forecasting. By end-use industry, it is classified into transportation, aviation, energy & utilities, banking financial services & insurance (BFSI), agriculture, media, manufacturing, retail, others. Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Key market players that operate in the market are Global Weather Corporation, Accuweather Inc., BMT Group, Skymet Weather services Pvt., Ltd., Precision Weather, The Weather Company, Fugro, Enav S.p.A, Met Office, and Skyview Systems Ltd.

KEY BENEFITS FOR STAKEHOLDERS

This report provides an overview of the trends, structure, drivers, challenges, and opportunities in the global weather forecasting services market.
Porter’s Five Forces analysis highlights the potential of buyers & suppliers, and provides insights on the competitive structure of the weather forecasting services market to determine the investment pockets of the market.
Current and future trends adopted by the key market players are highlighted to determine overall competitiveness of the market.
The quantitative analysis of the weather forecasting services market growth from 2016 to 2023 is provided to elaborate the market potential.

Key Market Segments

By forecasting type

Short-range Forecasting
Medium-range Forecasting
Long-range Forecasting

By end-use industry

Transportation
Aviation
Energy & Utilities
Banking Financial Services & Insurance (BFSI)
Agriculture
Media
Manufacturing
Retail
Others

By Geography

North America
U.S.
Canada
Mexico
Europe
UK
France
Germany
Rest of Europe
Asia-Pacific
China
Japan
India
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
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Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • Accuweather Inc.
  • BMT Group
  • Enav S.p.A
  • Fugro
  • Met Office
  • Precision Weather
  • MORE
CHAPTER 1 INTRODUCTION

1.1. REPORT DESCRIPTION
1.2. KEY BENEFITS
1.3. KEY MARKET SEGMENTS
1.4. KEY MARKET SEGMENTATION
1.5. RESEARCH METHODOLOGY

1.5.1. Secondary research
1.5.2. Primary research
1.5.3. Analyst tools and models

CHAPTER 2 EXECUTIVE SUMMARY

2.1. CXO PERSPECTIVE

CHAPTER 3 MARKET OVERVIEW

3.1. MARKET DEFINITION AND SCOPE
3.2. KEY FINDINGS

3.2.1. Top impacting factors
3.2.2. Top investment pockets
3.2.3. Top winning strategies

3.3. PORTERS FIVE FORCES ANALYSIS

3.3.1. Bargaining power of suppliers
3.3.2. Bargaining power of buyers
3.3.3. Threat of substitutes
3.3.4. Threat of new entrants
3.3.5. Competitive rivalry

3.4. KEY PLAYER POSITIONING, 2016 (%)
3.5. MARKET DYNAMICS

3.5.1. Drivers
3.5.2. Restraints
3.5.3. Opportunities

CHAPTER 4 WEATHER FORECASTING SERVICES MARKET BY FORECASTING TYPE

4.1. OVERVIEW
4.2. SHORT-RANGE FORECASTING

4.2.1. Key Market Trends
4.2.2. Key growth factors and opportunities
4.2.3. Market size and forecast ($Million)

4.3. MEDIUM-RANGE FORECASTING

4.3.1. Key Market Trends
4.3.2. Key growth factors and opportunities
4.3.3. Market size and forecast ($Million)

4.4. LONG-RANGE FORECASTING

4.4.1. Key Market Trends
4.4.2. Key growth factors and opportunities
4.4.3. Market size and forecast ($Million)

CHAPTER 5 WEATHER FORECASTING SERVICES MARKET BY END-USE INDUSTRY

5.1. OVERVIEW
5.2. TRANSPORTATION

5.2.1. Key Market Trends
5.2.2. Key growth factors and opportunities
5.2.3. Market size and forecast ($Million)

5.3. AVIATION

5.3.1. Key Market Trends
5.3.2. Key growth factors and opportunities
5.3.3. Market size and forecast ($Million)

5.4. ENERGY & UTILITIES

5.4.1. Key Market Trends
5.4.2. Key growth factors and opportunities
5.4.3. Market size and forecast ($Million)

5.5. BFSI

5.5.1. Key Market Trends
5.5.2. Key growth factors and opportunities
5.5.3. Market size and forecast ($Million)

5.6. AGRICULTURE

5.6.1. Key Market Trends
5.6.2. Key growth factors and opportunities
5.6.3. Market size and forecast ($Million)

5.7. MEDIA

5.7.1. Key Market Trends
5.7.2. Key growth factors and opportunities
5.7.3. Market size and forecast ($Million)

5.8. MANUFACTURING

5.8.1. Key Market Trends
5.8.2. Key growth factors and opportunities
5.8.3. Market size and forecast ($Million)

5.9. RETAIL

5.9.1. Key Market Trends
5.9.2. Key growth factors and opportunities
5.9.3. Market size and forecast ($Million)

5.10. OTHERS

5.10.1. Key Market Trends
5.10.2. Key growth factors and opportunities
5.10.3. Market size and forecast ($Million)

CHAPTER 6 WEATHER FORECASTING SERVICES MARKET BY REGION

6.1. OVERVIEW
6.2. NORTH AMERICA

6.2.1. Key market trends
6.2.2. Key growth factors and opportunities
6.2.3. Market size and forecast ($Million)

6.2.3.1. U.S.
6.2.3.2. Canada
6.2.3.3. Mexico

6.3. EUROPE

6.3.1. Key market trends
6.3.2. Key growth factors and opportunities
6.3.3. Market size and forecast ($Million)

6.3.3.1. UK
6.3.3.2. Germany
6.3.3.3. France
6.3.3.4. Rest of Europe

6.4. ASIA-PACIFIC

6.4.1. Key market trends
6.4.2. Key growth factors and opportunities
6.4.3. Market size and forecast ($Million)

6.4.3.1. China
6.4.3.2. India
6.4.3.3. Japan
6.4.3.4. South Korea
6.4.3.5. Rest of Asia-Pacific

6.5. LATIN AMERICA, THE MIDDLE EAST, AND AFRICA (LAMEA)

6.5.1. Key market trends
6.5.2. Key growth factors and opportunities
6.5.3. Market size and forecast ($Million)

6.5.3.1. Latin America
6.5.3.2. Middle East
6.5.3.3. Africa

CHAPTER 7 COMPANY PROFILES

7.1. GLOBAL WEATHER CORPORATION

7.1.1. Company Overview
7.1.2. Financial performance
7.1.3. Key strategies & developments

7.2. ACCUWEATHER INC.

7.2.1. Company Overview
7.2.2. Financial performance
7.2.3. Key strategies & developments

7.3. BMT GROUP

7.3.1. Company Overview
7.3.2. Financial performance
7.3.3. Key strategies & developments

7.4. SKYMET WEATHER SERVICES PVT., LTD.

7.4.1. Company Overview
7.4.2. Financial performance
7.4.3. Key strategies & developments

7.5. PRECISION WEATHER

7.5.1. Company Overview
7.5.2. Financial performance
7.5.3. Key strategies & developments

7.6. THE WEATHER COMPANY

7.6.1. Company Overview
7.6.2. Financial performance
7.6.3. Key strategies & developments

7.7. FUGRO

7.7.1. Company Overview
7.7.2. Financial performance
7.7.3. Key strategies & developments

7.8. ENAV S.P.A

7.8.1. Company Overview
7.8.2. Financial performance
7.8.3. Key strategies & developments

7.9. MET OFFICE

7.9.1. Company Overview
7.9.2. Financial performance
7.9.3. Key strategies & developments

7.10. SKYVIEW SYSTEMS LTD.

7.10.1. Company Overview
7.10.2. Financial performance
7.10.3. Key strategies & developments
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FEATURED COMPANIES

  • Accuweather Inc.
  • BMT Group
  • Enav S.p.A
  • Fugro
  • Met Office
  • Precision Weather
  • MORE
According to a new report titled, Weather Forecasting Services Market by Forecasting Type, and by End-Use Industry: Global Opportunity Analysis and Industry Forecast, 2016-2023, the global weather forecasting services market was valued at $1,205 million in 2016, and is projected to reach at $2,777 million by 2023, growing at a CAGR of 13.1% from 2017 to 2023. The short-range forecasting segment is expected to possess maximum potential during the forecast period.

The current business scenario has witnessed surge in adoption of weather forecasting services in the developed and developing regions, owing to technological innovations in product offerings, increased need to improve performance & operational efficiency, rise in demand for advanced data analytical models, and increase in application areas among end users. Furthermore, the need to reduce costs towards maintenance operations, increase in air traffic, rise in need to reduce economical turnbacks, and growth in awareness towards forecasting solutions are expected to provide lucrative opportunities for the market. However, uncertainty of weather prediction solutions, complexities of these models, and dearth of trained professionals are expected to restrict the weather forecasting services market growth.

The short-range forecasting segment dominated the weather forecasting services market in 2016, accounting for 52% revenue share of the global market. This is attributed to rise in demand for improved analytical models and increased cloud-related expenditures to cater to the untapped markets among the developing nations.

The aviation segment dominated the weather forecasting services industry in 2016, with around 19% share, followed by media and transportation segments. Furthermore, transportation segment is estimated to grow at the highest CAGR of 15.7%, owing to widespread adoption of advanced weather prediction models and increased trade traffic.

North America was the highest revenue contributor in 2016, accounting for around 45% share. However, Asia-Pacific is projected to grow at the highest CAGR of 17.3% during the forecast period.

The report features the competitive scenario of the weather forecasting services market and provides comprehensive analyses of the significant growth strategies adopted by major players. The key players operating in the market include Global Weather Corporation, 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.

Key Findings of the Weather Forecasting Services Market

The short-range forecasting segment dominated the global weather forecasting services market in 2016, while the medium-range forecasting segment is expected to grow at the highest CAGR from 2017 to 2023.
The aviation, media, and transportation segments are estimated to provide significant growth opportunities to the key market players.
North America is expected to dominate the weather forecasting services market, in terms of market size. However, Asia-Pacific is estimated to possess significant growth rate during the forecast period.
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  • Global Weather Corporation
  • Accuweather Inc.
  • BMT Group
  • Skymet Weather services Pvt., Ltd.
  • Precision Weather
  • The Weather Company
  • Fugro
  • Enav S.p.A
  • Met Office
  • Skyview Systems Ltd.
Note: Product cover images may vary from those shown
6 of 5
Note: Product cover images may vary from those shown
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