2021 Weather Forecasting Services Market Report - Amid the COVID-19 Crisis the Global Market is Forecast to Reach a Revised Size of US$ 2.5 Billion by 2027

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Mar 12, 2021, 12:45 ET

DUBLIN, March 12, 2021 /PRNewswire/ -- The "Weather Forecasting Services - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.

Amid the COVID-19 crisis, the global market for Weather Forecasting Services estimated at US$ 1.5 Billion in the year 2020, is projected to reach a revised size of US$ 2.5 Billion by 2027, growing at a CAGR of 8% over the analysis period 2020-2027.

Nowcast, one of the segments analyzed in the report, is projected to record a 8.4% CAGR and reach US$ 655.6 Million by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Short Range segment is readjusted to a revised 8.1% CAGR for the next 7-year period.

The Weather Forecasting Services market in the U.S. is estimated at US$ 392.7 Million in the year 2020. China, the world's second largest economy, is forecast to reach a projected market size of US$ 565.2 Million by the year 2027 trailing a CAGR of 12.1% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.3% and 7.2% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 5.2% CAGR.

In the global Medium Range segment, USA, Canada, Japan, China and Europe will drive the 6.9% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$ 216.9 Million in the year 2020 will reach a projected size of US$ 346.3 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$ 345.3 Million by the year 2027, while Latin America will expand at a 8.9% CAGR through the analysis period.

Select Competitors (Total 35 Featured):

Accuweather, Inc.
Aerisweather
Bmt Group Ltd.
Climacell
Customweather, Inc.
Dtn
Earth Networks, Inc.
Enav S.P.A.
Fugro
Global Weather Corporation

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

Influencer Market Insights
World Market Trajectories
Impact of Covid-19 and a Looming Global Recession
Global Competitor Market Shares
Weather Forecasting Services Competitor Market Share Scenario Worldwide (in %): 2020E
Global Competitor Market Shares by Segment

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

IV. COMPETITION

Total Companies Profiled: 35

For more information about this report visit https://www.researchandmarkets.com/r/mujlwo

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SOURCE Research and Markets