The report provides an overview of the trends, structure, drivers, challenges, and opportunities in the global weather forecasting services market.
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Weather forecasting services incorporate a comprehensive range of practices, tools, solutions, and techniques interrelated to the study of meteorology. Weather forecasting process involves utilization of various software to analyze atmospheric data that delivers current or future state of the weather format for a particular location.
Weather forecasting uses massive volume of structured and unstructured data to deliver improved analytical output while optimizing business revenues for various end-use industries.
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Increase in number of natural disasters due to undesired climatic changes drives the growth of the weather forecasting services market.
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Reliable weather forecasting can lead to reduction in operational & maintenance costs for business operations. The weather forecasting systems are based on complex models, as a result the industry requires trained geologists and meteorologists to operate these systems.
However, dearth of trained workforce is expected to hamper the weather forecasting services market growth. Advancements in computing system such as advanced data analytics and model development are projected to provide lucrative opportunities for weather forecasting services market players.
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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, the weather forecasting services market is categorized 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.
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