Latest News- Weather Forecasting Services Market: Medium-range is expected to lead the Type segment during 2025-2029

The Weather Forecasting Services Market is being driven by Farmers need weather forecasting services

The Weather Forecasting Services Market is expected to grow at a CAGR of 11.8% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 1595.1 million. The renewable energy sector is experiencing significant growth due to escalating energy demand, mounting environmental concerns, and stringent regulations advocating for clean energy sources. Governments worldwide are promoting the adoption of renewable energy, particularly solar, wind, and hydro, to decrease reliance on fossil fuels. Incentives such as grants, tax breaks, and subsidies are being offered to encourage businesses and individuals to invest in these clean energy solutions. However, the volatility of renewable energy generation, particularly wind and solar power, which is heavily dependent on weather conditions, poses a challenge. To mitigate this, numerous countries have established ambitious targets for renewable energy expansion, including solar PV and wind turbine capacity additions. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Type
  • Medium-range
  • Long-range
  • Short-range
  • Nowcasting
• Application
  • Energy and utilities
  • Aviation
  • Media and consumer
  • Logistics and transportation
  • Others
• Method
  • Ground-based
  • Satellite-based
  • Model-based
• Geography
  • North America
    • Canada
    • US
  • APAC
    • China
    • India
    • Japan
    • South Korea
  • Europe
    • Germany
    • UK
    • France
    • Italy
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Farmers need weather forecasting services
• Advancements in computer technology
• Growing demand for airplane data integration real-time weather prediction solutions

However, the market also witnesses some limitations, which are as follows:

• Complexities of weather forecasting models
• Sudden changes in weather leading to inaccurate weather analysis
• Lack of data in certain regions

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Market Scope in Weather Forecasting Services Market Research Report

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Research Analysis Overview

The Weather Forecasting Services Market is projected to grow at a Compound Annual Growth Rate (CAGR) of USD 2 from 2021 to 2026. Factors driving market growth include energy transitions, COVID-19 pandemic, and the need for accurate weather data in various sectors like agriculture, aviation, energy & utilities, renewables, manufacturing, logistics & transportation, and marine. Technologies such as satellite systems, air-based observation systems, and marine observing systems are key offerings. Reports provide historical data and regional opportunities, catering to both large enterprises and small & medium enterprises. Nowcasting, short-range, medium-range, and long-range forecasting services are offered by providers like DTN, NOAA SciJinks, among others, in PDF format.

Market Research Overview

The Weather Forecasting Services Market represents a significant business opportunity, with a compound annual growth rate of 2% projected from 2021 to 2026. Key drivers include energy transitions, as renewable energy sources require precise meteorological data for optimal performance, and the COVID-19 pandemic's increased focus on contactless services, driving demand for remote weather monitoring solutions. Additionally, investments in marine observing systems and air-based observation technologies will bolster market expansion.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/