Market Introduction
The North America weather forecasting services market is a highly fragmented market with the presence of considerable regional and local players providing numerous solutions for companies investing in the market arena. Weather forecasting services are highly efficient and helpful when dealing with the turbulence and wind shear issues. These services help monitor and measure wind at and near the airport environment. They are also used in the aerospace sector to improve long-range wind awareness. The aviation industry depends heavily on the weather for decision-making is taken without considering the weather. One of the major threats for air travel is safety issues, which has increased with an unbalanced rise in airport capacities and facilities, coupled with frequent extreme weather conditions being experienced in North America. There has been an increase in air accidents due to bad weather conditions, taking the lives of about many passengers in the region. Furthermore, the augmenting focus on operational efficiency and the surge in public-private partnership toward producing more accurate and reliable weather forecasts are creating lucrative market opportunities.
In North America, the US is the hardest-hit country due to the COVID-19 outbreak. The high infection rate led the government to impose various containment measures such as the shutdown of factories, travel restrictions, closure of international borders, and lockdowns. The enormous increase in the number of confirmed cases and rise in the reported deaths have affected both manufacturing and sales of weather forecasting equipment and models in North America. Additionally, companies also minimized the allocated budget for industrial machinery manufacturing, owing to the economic slowdown, which raised environmental concerns across the region. However, the region is now recovering and adopting advanced weather forecasting models. However, the risk of companies still exists as a result of market uncertainties arising from the tough business environment associated with the weather forecasting solutions and services across various industries.
Market Overview and Dynamics
The weather forecasting services market in North America is expected to grow from US$ 681.46 million in 2021 to US$ 1,202.31 million by 2028; it is estimated to grow at a CAGR of 8.4% from 2021 to 2028. The rising awareness among the individuals about clean energies and strong demand from several prominent non-profit government organizations for them have significantly favored their uptake in North America. It has led to a decrease in uncertainties toward climate change. For instance, according to one of the United Nations Environment Programme (UNEP) research, in 2019, the investment into renewable energy rose to 1% from 2018 and was valued at US$ 282.2 billion. Furthermore, the US-registered 28% increase in their investment for renewable energy. Overall, the total North America investment in renewable energy and clean energy saw a steady rise in investment, especially in the past few years. Key data from several environmental organizations, indicating the worsening of North America climate and the immediate need for sustainable development technologies, has facilitated the adoption of weather forecast services in the region. As a result the various government support/initiative and investment into clean energies boost the demand for weather forecasting service market.
Key Market Segments
Based on industry, the energy and utilities segment accounted for the largest share of the North America weather forecasting services market in 2020. Based on purpose, the safety segment accounted for the largest share of the North America weather forecasting services market in 2020. Based on forecasting type, the short range segment accounted for the largest share of the North America weather forecasting services market in 2020. Based on organization size, the large enterprises segment accounted for the largest share of the North America weather forecasting services market in 2020.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the North America weather forecasting services market are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report include Global Weather Corporation, Accuweather, Inc., BMT Group Ltd., Precision Weather, Fugro, Enav S.p.A., IBM Corporation, DTN, Storm Geo, The Tomorrow Companies Inc.
Reasons to buy report
- To understand the North America weather forecasting services market landscape and identify market segments that are most likely to guarantee a strong return
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- Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form North America weather forecasting services market
- Obtain market revenue forecast for market by various segments from 2019-2028 in North America region.
North America Weather Forecasting Services Market Segmentation
North America Weather Forecasting Services Market – By Industry
- Agriculture
- Aviation
- Marine
- Transport and Logistics
- Energy and Utilities
- Oil and Gas
- Media
- Insurance
- Retail
- Construction and Mining
- Others
North America Weather Forecasting Services Market – By Purpose
- Operational Efficiency
- Safety
- Others
North America Weather Forecasting Services Market – By Forecasting Type
- Nowcast
- Short Range
- Medium Range
- Long Range
North America Weather Forecasting Services Market – By Organization Size
- Large Enterprises
- Small and Medium-Sized Enterprises
North America Weather Forecasting Services Market – By Country
- US
- Canada
- Mexico
North America Weather Forecasting Services Market – Company Profiles
- AccuWeather, Inc.
- IBM Corporation
- DTN
- StormGeo
- Fugro
- ENAV S.p.A.
- The Tomorrow Companies Inc.
- BMT Group Ltd.
- Precision Weather
- Global Weather Corporation
North America Weather Forecasting Services Market Strategic Insights
North America Weather Forecasting ServicesMarket Report Highlights
| Report Attribute | Details |
| Market size in 2021 | US$ 681.46 Million |
| Market Size by 2028 | US$ 1,202.31 Million |
| CAGR (2021 - 2028) | 8.4% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Industry
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Regions and Countries Covered
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| North America | US, Canada, Mexico |
| Market leaders and key company profiles |
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North America Weather Forecasting Services Market Country and Regional Insights
