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Weather Forecasting Services Market by Forecasting Type (Short-range Forecasting, Medium-range Forecasting and Long-range Forecasting) and End-use Industry (Transportation, Aviation, Energy & Utilities, BFSI, Agriculture, Media, Manufacturing, Retail, and Others) - Global Opportunity and Forecast, 2016-2023

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IC_172390
Pages: 122
Jul 2017 | 2104 Views
 
Author's : Pankaj Lanjudkar
Tables: 40
Charts: 47
 

Weather Forecasting Services Market Overview:

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. Weather forecasting services industry are currently implemented by transportation, aviation, energy & utilities, banking financial services & insurance (BFSI), agriculture, media, manufacturing, retail, others. These services enable reduction in maintenance & operational costs for businesses and improves overall safety of life & property.

Increase in number of natural disasters due to undesired climatic changes drives the growth of the weather forecasting services market. 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.

Segment Overview

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.

Key Market Segmentation

Weather Forecasting Services Market Key Segmentation

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Top impacting factors

Factors such as growth in demand for increased application areas among aviation & shipping industry, development associated with end-use markets, dearth of trained professionals, and impact of developing economies impact the growth of the market. These factors collectively provide opportunities for the weather forecasting services market growth. However, each factor has its definite impact on the weather forecasting services market share.

Top Impacting Factors

Weather Forecasting Services Market Top Impacting Factors

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Growth associated with aviation & shipping market

Government organizations of multiple countries have introduced a number of initiatives to support and promote prominent players to establish commercial aircraft manufacturing facilities, especially in emerging and developed regions. This is anticipated to create new growth opportunities for local and international players operating in the weather forecasting services market. The UK government has taken an initiative towards the development of commercial aircraft industry by partnering with The Boeing Company, and invests around $447 million for aerospace R&D projects. Moreover, according to Federal Aviation Administration (FAA), system traffic in accordance with revenue passenger miles (RPMs) is expected to exhibit 2.6% growth for the period 20162036. Shipping industry is expected to provide lucrative opportunities for market growth. For instance, seaborne trade volumes accounted for 10 billion tons in 2015. In addition, the World Trade Organization stated that merchandise trade volumes across the globe are expected to showcase steady growth in 2015.

Lack of skilled workforce

Weather forecasting models such as weather event model (snowstorm, hurricanes), short & long-term forecasting model, and high accuracy models require meteorologists with superior interpretation skills and experience. Presently, the impact of the factor on the market is high, which is limiting end users to invest into advanced solutions and services. However, by 2023, the impact is projected to reduce due to availability of skilled workforce.

Impact of developing economies

Developing countries possess a significant potential for the weather forecasting services market, owing to low level of penetration and developing aerospace infrastructure. Furthermore, enhanced need for real-time weather monitoring solutions in commercial airline, energy, and transportation industries is expected to fuel the demand for weather forecasting services.

Increased application areas

Increase in trend of automation, technology upgradation, minimization of operation costs, growth in demand for real-time weather information management, and rise in demand for performance optimization are some of the factors that are expected to boost the market growth during the forecast period. The energy sector departments continuously focus on reducing operational costs associated with emergency shutdowns, which leads to heavy investments to improve Maintenance, Repair and Overhaul (MRO) services in accordance with timely weather update. Earlier, these services were majorly adopted by developed nations; however, in recent years, most of the emerging economies such as India and China have implemented forecasting services to enhance the productivity of government projects.

Key Benefits

  • The report provides an overview of the trends, structure, drivers, challenges, and opportunities in the global weather forecasting services market.
  • Porters Five Forces analysis highlights the potential of buyers & suppliers, and provides insights on the competitive structure of the market to determine the investment pockets of the weather forecasting services 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 market from 2016 to 2023 is provided to elaborate the market potential.

Weather Forecasting Services Market Key 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
    • South Korea
    • Rest of Asia-Pacific
  • LAMEA
    • Latin America
    • Middle East
    • Arica

Key players profiled in the report

  • 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.
 

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

LIST OF TABLES

TABLE 1. WEATHER FORECASTING SERVICES MARKET REVENUE, BY REGION, 2016-2023 ($MILLION)
TABLE 2. GLOBAL WEATHER FORECASTING SERVICES MARKET REVENUE, BY FORECASTING TYPE, 2016-2023 ($MILLION)
TABLE 3. SHORT-RANGE FORECASTING WEATHER FORECASTING SERVICES MARKET REVENUE, BY REGION, 2016-2023 ($MILLION)
TABLE 4. MEDIUM-RANGE FORECASTING WEATHER FORECASTING SERVICES MARKET REVENUE, BY REGION, 2016-2023 ($MILLION)
TABLE 5. LONG-RANGE FORECASTING WEATHER FORECASTING SERVICES MARKET REVENUE, BY REGION, 2016-2023 ($MILLION)
TABLE 6. GLOBAL WEATHER FORECASTING SERVICES MARKET REVENUE, BY END-USE INDUSTRY, 2016-2023 ($MILLION)
TABLE 7. TRANSPORTATION WEATHER FORECASTING SERVICES MARKET REVENUE, BY REGION, 2016-2023 ($MILLION)
TABLE 8. AVIATION WEATHER FORECASTING SERVICES MARKET REVENUE, BY REGION, 2016-2023 ($MILLION)
TABLE 9. ENERGY & UTILITIES WEATHER FORECASTING SERVICES MARKET REVENUE, BY REGION, 2016-2023 ($MILLION)
TABLE 10. BFSI WEATHER FORECASTING SERVICES MARKET REVENUE, BY REGION, 2016-2023 ($MILLION)
TABLE 11. AGRICULTURE WEATHER FORECASTING SERVICES MARKET REVENUE, BY REGION, 2016-2023 ($MILLION)
TABLE 12. MEDIA WEATHER FORECASTING SERVICES MARKET REVENUE, BY REGION, 2016-2023 ($MILLION)
TABLE 13. MANUFACTURING WEATHER FORECASTING SERVICES MARKET REVENUE, BY REGION, 2016-2023 ($MILLION)
TABLE 14. RETAIL WEATHER FORECASTING SERVICES MARKET REVENUE, BY REGION, 2016-2023 ($MILLION)
TABLE 15. OTHERS WEATHER FORECASTING SERVICES MARKET REVENUE, BY REGION, 2016-2023 ($MILLION)
TABLE 16. GLOBAL WEATHER FORECASTING SERVICES MARKET REVENUE, BY REGION, 2016-2023 ($MILLION)
TABLE 17. NORTH AMERICAN WEATHER FORECASTING SERVICES MARKET REVENUE, BY COUNTRY, 2016-2023 ($MILLION)
TABLE 18. EUROPE WEATHER FORECASTING SERVICES MARKET REVENUE, BY COUNTRY, 2016-2023 ($MILLION)
TABLE 19. ASIA-PACIFIC WEATHER FORECASTING SERVICES MARKET REVENUE, BY COUNTRY, 2016-2023 ($MILLION)
TABLE 20. LAMEA WEATHER FORECASTING SERVICES MARKET REVENUE, BY REGION, 2016-2023 ($MILLION)
TABLE 21. COMPANY SNAPSHOT: GLOBAL WEATHER CORPORATION
TABLE 22. COMPANY SNAPSHOT: ACCUWEATHER INC.
TABLE 23. COMPANY SNAPSHOT: BMT GROUP
TABLE 24. COMPANY SNAPSHOT: SKYMET WEATHER SERVICES PVT., LTD.
TABLE 25. COMPANY SNAPSHOT: PRECISION WEATHER
TABLE 26. COMPANY SNAPSHOT: THE WEATHER COMPANY
TABLE 27. COMPANY SNAPSHOT: FUGRO
TABLE 28. COMPANY SNAPSHOT: ENAV S.P.A
TABLE 29. COMPANY SNAPSHOT: MET OFFICE
TABLE 30. COMPANY SNAPSHOT: SKYVIEW SYSTEMS LTD.


LIST OF FIGURES

FIGURE 1. KEY MARKET SEGMENTATION
FIGURE 2. OVERVIEW OF THE OPPORTUNITIES IN THE GLOBAL WEATHER FORECASTING SERVICES MARKET
FIGURE 3. TOP IMPACTING FACTORS
FIGURE 4. TOP INVESTMENT POCKETS IN THE GLOBAL WEATHER FORECASTING SERVICES MARKET
FIGURE 5. TOP WINNING STRATEGIES
FIGURE 6. TOP WINNING STRATEGY
FIGURE 7. BARGAINING POWER OF SUPPLIERS
FIGURE 8. BARGAINING POWER OF BUYERS
FIGURE 9. THREAT OF SUBSTITUTES
FIGURE 10. THREAT OF NEW ENTRANTS
FIGURE 11. COMPETITIVE RIVALRY
FIGURE 12. KEY PLAYER POSITIONING OF GLOBAL WEATHER FORECASTING SERVICES MARKET, 2016 (%)
FIGURE 13. MARKET DYNAMICS
FIGURE 14. GLOBAL WEATHER FORECASTING SERVICES MARKET, BY FORECASTING TYPE
FIGURE 15. GLOBAL WEATHER FORECASTING SERVICES MARKET, BY FORECASTING TYPE, 2016-2023
FIGURE 16. GLOBAL WEATHER FORECASTING SERVICES MARKET, BY END-USE INDUSTRY
FIGURE 17. GLOBAL WEATHER FORECASTING SERVICES MARKET, BY END-USE INDUSTRY, 2016-2023
FIGURE 18. GLOBAL WEATHER FORECASTING SERVICES MARKET, BY REGION
FIGURE 19. NORTH AMERICAN WEATHER FORECASTING SERVICES MARKET
FIGURE 20. U.S. WEATHER FORECASTING SERVICES MARKET, 2016-2023 ($MILLION)
FIGURE 21. CANADA WEATHER FORECASTING SERVICES MARKET, 2016-2023 ($MILLION)
FIGURE 22. MEXICO WEATHER FORECASTING SERVICES MARKET, 2016-2023($MILLION)
FIGURE 23. EUROPE WEATHER FORECASTING SERVICES MARKET
FIGURE 24. UK WEATHER FORECASTING SERVICES MARKET, 2016-2023 ($MILLION)
FIGURE 25. GERMANY WEATHER FORECASTING SERVICES MARKET, 2016-2023 ($MILLION)
FIGURE 26. FRANCE WEATHER FORECASTING SERVICES MARKET, 2016-2023 ($MILLION)
FIGURE 27. REST OF EUROPE WEATHER FORECASTING SERVICES MARKET, 2016-2023 ($MILLION)
FIGURE 28. ASIA-PACIFIC WEATHER FORECASTING SERVICES MARKET
FIGURE 29. CHINA WEATHER FORECASTING SERVICES MARKET, 2016-2023 ($MILLION)
FIGURE 30. INDIA WEATHER FORECASTING SERVICES MARKET, 2016-2023 ($MILLION)
FIGURE 31. JAPAN WEATHER FORECASTING SERVICES MARKET, 2016-2023 ($MILLION)
FIGURE 32. SOUTH KOREA WEATHER FORECASTING SERVICES MARKET, 2016-2023 ($MILLION)
FIGURE 33. REST OF ASIA-PACIFIC WEATHER FORECASTING SERVICES MARKET, 2016-2023 ($MILLION)
FIGURE 34. LAMEA WEATHER FORECASTING SERVICES MARKET
FIGURE 35. LATIN AMERICA WEATHER FORECASTING SERVICES MARKET, 2016-2023 ($MILLION)
FIGURE 36. MIDDLE EAST WEATHER FORECASTING SERVICES MARKET, 2016-2023 ($MILLION)
FIGURE 37. AFRICA WEATHER FORECASTING SERVICES MARKET, 2016-2023 ($MILLION)
FIGURE 38. FINANCIAL PERFORMANCE: GLOBAL WEATHER CORPORATION
FIGURE 39. FINANCIAL PERFORMANCE: ACCUWEATHER INC.
FIGURE 40. FINANCIAL PERFORMANCE: BMT GROUP
FIGURE 41. FINANCIAL PERFORMANCE: SKYMET WEATHER SERVICES PVT., LTD.
FIGURE 42. FINANCIAL PERFORMANCE: PRECISION WEATHER
FIGURE 43. FINANCIAL PERFORMANCE: THE WEATHER COMPANY
FIGURE 44. FINANCIAL PERFORMANCE: FUGRO
FIGURE 45. FINANCIAL PERFORMANCE: ENAV S.P.A
FIGURE 46. FINANCIAL PERFORMANCE: MET OFFICE
FIGURE 47. FINANCIAL PERFORMANCE: SKYVIEW SYSTEMS LTD.

 

The global weather forecasting services market is estimated to witness significant growth in Asia-Pacific and LAMEA, owing to rise in aviation expenditure, increase in need to improve weather prediction efficiency, and growth in demand for real-time weather monitoring systems. The weather forecasting services market share is projected to grow at a CAGR of 13.1% from 2017 to 2023, owing to increase in demand for application-specific solutions in the developed and developing regions.

The adoption of weather forecasting systems among commercial and defense sectors has increased, owing to rise in demand for real-time weather management, increase in demand for performance optimization, development associated with end-use industries, and rise in safety concerns among various end-use industries. In addition, rise in demand for application-specific solutions contribute to the growth of the market. However, challenges associated with complexity of weather prediction models, lack of trained professionals, and uncertainty associated with weather prediction limit the weather forecasting services market growth.

Key players in the market are involved in the introduction of new features and capabilities to enhance their existing product portfolio. This is anticipated to increase the product penetration and enable key providers to establish themselves in the emerging markets. For example, The Weather Company announced the launch of Deep Thunder, a technologically advanced local weather forecasting model, in June 2016. This model effectively combines the results of hyper-local and short-term custom forecasting models to efficiently analyze the impact of weather for end-use industries.

 

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