The Asia Pacific Weather Forecasting Services Market would witness market growth of 9.8% CAGR during the forecast period (2021-2027).
Weather forecasting helps in lowering transportation and logistics overhead costs and preventing large losses due to bad weather. Other end-use industries, such as marine, agricultural, and fisheries, as well as energy and utilities, rely heavily on weather forecasts to achieve desired results because most renewable energy sources get energy from natural components. Weather forecasting is a crucial service provided to a variety of businesses in which precise weather data is critical in organizing day-to-day activity. It is also widely used in industries such as maritime, forestry, and defense. Advances in technologies and aircraft design, along with a never-ending desire for more safe and efficient operations, have resulted in a demand for more precise, diversified, and customer-centric meteorological goods and services.
Private and public weather service companies can use cloud computing to minimize the high expenses of obtaining and maintaining the powerful computational hardware required to operate numerical weather, forecast models. Forecasting may be done with several models and computers, merging diverse data sources. This can lead to more precise forecasts and better flood preparation.
Weather elements are measured and forecasted by a number of organizations across the region. For different countries, established rules are formed for measuring and assigning values, and allocating codes. The India Meteorological Department is one of the major entities operating in weather forecasting sector. The National Commission on Agriculture proposed that each of the agricultural universities construct Principal Agromet Observatories. The weather has a significant impact on agricultural production. In addition, the weather and traffic bureaus, as well as all levels of government, have been paying increased attention to traffic weather. In order to produce combined national expressway traffic weather predictions, the China Meteorological Administration and the Ministry of Communications signed a MoU for Joint Development of Highway Traffic Weather Forecasting Work on July 27, 2005.
The China market dominated the Asia Pacific Weather Forecasting Services Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $225.4 million by 2027. The Japan market is poised to grow at a CAGR of 9.1% during (2021 - 2027). Additionally, The India market would display a CAGR of 10.4% during (2021 - 2027).
Based on Forecast Type, the market is segmented into Short Range, Medium Range, and Long Range. Based on Industry, the market is segmented into Energy & Utilities, BFSI, Agriculture & Forestry, Aviation, Media, Transportation, Oil & Gas and Others. Based on Organization Size, the market is segmented into Large Enterprises and Small & Medium-Sized Enterprises. Based on Purpose, the market is segmented into Safety, Operational Efficiency, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Weather Forecasting Services Market is Projected to reach USD 2.8 Billion by 2027, at a CAGR of 9.7%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Global Weather Corporation (UCAR), Accuweather, Inc., BMT Group, StormGeo (Alfa Laval AB), Precision Weather, The Weather Company (IBM), Fugro N.V., Enav S.p.A, Met Office, and Skyview Systems Ltd.
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