The global weather forecasting services market size was US$ 1.79 billion in 2021. The global weather forecasting services market size is forecast to reach US$ 4.4 billion by 2030, growing at a compound annual growth rate (CAGR) of 10.4% during the forecast period from 2022 to 2030.

Weather forecasting services cover a wide range of methods, tools, solutions, and approaches associated with meteorology. It is possible to make weather forecasts using a number of tools to evaluate atmospheric data and provide current and future weather formats for a specific location. Forecasting the weather uses large amounts of unstructured and structured data to increase analytical output while increasing revenue for many end-use industries.

Factors Influencing Market Growth

• The global market is growing due to factors, including the growth of the aviation & shipping industry and the rising safety concerns among end-use industries.
• There is a lack of skilled labor and complexity associated with weather forecasting models that may slow down the global market growth. 
• Technological advances in computing systems and the expansion of the transportation industry in developing regions are forecast to create lucrative market opportunities for weather forecasting services.

Impact Analysis of COVID-19

COVID-19 has had a significant impact on the weather forecasting services market. A dramatic decrease in commercial flight activity has resulted from the grounding of most of the global fleet, which provides critical weather observations. Meteorological agencies use a number of sources to predict the weather, including information from commercial planes, which contributes to the accuracy of many weather forecasts, including hurricane forecasts. Data provided by US aircraft fell by 50% by the end of March 2020. While according to the European Centre of Medium-Range Weather Forecasts (ECMRWF), readings provided by aircraft across the continent fell by 80%. The center estimates that weather forecasts would be 15% less accurate without aircraft data. As a result of COVID-19's impact on the global airline industry, there will be a significant drawback both in the short and the long term on the global market growth.

Regional Insights

North America held the largest share of the weather forecasting services market in 2021. Most industries have adopted forecasting technologies in North America. Many of the organizations in the region have been early adopters of new technologies. A number of technological advances, including improvements in data analytics and computer forecast models, and an increase in the use of supercomputers providing more computing power, have contributed to the growth of the North American market. 

Leading Competitors

The leading prominent companies profiled in the global weather forecasting services 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
• Skyview Systems Ltd.
• Other Prominent Players

Scope of the Report

The global weather forecasting services market segmentation focuses on Forecasting Type, End-User Industry, and Region.

Segmentation based on Forecasting Type

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

Segmentation based on End-User Industry

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

Segmentation based on Region

• North America
• The U.S.
• Canada
• Mexico
• Europe
• Western Europe
• The UK
• Germany
• France
• Italy
• Spain
• Rest of Western Europe
• Eastern Europe
• Poland
• Russia
• Rest of Eastern Europe
• Asia Pacific
• China
• India
• Japan
• Australia & New Zealand
• ASEAN
• Rest of Asia Pacific
• Middle East & Africa (MEA)
• UAE
• Saudi Arabia
• South Africa
• Rest of MEA
• South America
• Brazil
• Argentina
• Rest of South America