Asia Pacific Weather Forecasting Services Market Share and Forecast by 2028

The Asia Pacific weather forecasting services market is expected to grow from US$ 298.87 million in 2021 to US$ 592.96 million by 2028; it is estimated to grow at a CAGR of 10.3% from 2021 to 2028.

Weather forecasting is a consulting service that delivers real-time forecasts and aids in efficient day-to-day planning and informed decision-making in various industrial settings. Advanced weather notifications enable enterprises to plan weather-sensitive operations ahead of time, ensuring safety, efficiency, better sustainability, and significant cost savings. Weather forecasting services are used extensively in various industries, including oil and gas, renewable energy, shipping, media, agriculture, aviation, utilities, and construction. Over the projection period, the renewable energy sector is expected to dominate the market, owing to increased electricity consumption and energy requirements in various end-use industries. Various industrial enterprises are being encouraged to cut their greenhouse gas emissions to produce clean energy due to further strong government measures aimed at substituting non-renewable resources with renewable energy. During the forecast period, these factors are anticipated to increase demand for weather forecasting services.

The government's containment measure in this region has negatively affected several industrial operations in the region. China is the leading manufacturing country in this region and is among the worst-hit countries along with India. This has ultimately impacted the production across various sectors. However, the increasing environmental concerns are still supporting the need for weather forecasting services in Asia Pacific. Further, due the interruption in supply chain and logistics, the procurement rate of various electronics equipment used for building weather forecasting equipment/systems, has been impacted severely. India, South Korea, Japan, Vietnam, and other Asian countries have witnessed a sharp decline in the production operation across various manufacturing units. The ongoing COVID-19 pandemic is anticipated to cause huge disruptions in the growth of various industries in the region. For instance, China is the Asia Pacific hub of manufacturing and largest raw material supplier for various industries, and it is one of the worst affected COVID-19 countries. Hence, the ongoing disruptions in supply of raw materials and components are expected to impact the growth of the weather forecasting services market in coming quarters in Asia Pacific.

With the new advancements and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the Asia Pacific weather forecasting services market. With a constant increase in the temperature and the air becoming warmer, water evaporation has intensified, leading to frequent downpours and heavy snowfall. This heavy precipitation is not spread evenly across the region with some places not getting required amount of precipitation. Since climate change causes a shift in air and ocean currents, it changes weather patterns. The rising incidence of natural disasters due to undesired climatic changes and subsequent security concerns has surfaced as the key factor behind the growth in the Asia Pacific weather forecasting services market. Advanced and reliable weather forecasting achieved within the stipulated time can lead to significant cost savings and also help with protection against catastrophes and natural disasters. The technological advancements in computing systems, such as advanced data analytics, model development, and machine learning tools and techniques, are likely to boost he demand for weather forecasting services market.

 

  Asia Pacific Weather Forecasting Services Market Revenue and Forecast to 2028 (US$ Million)

• Asia Pacific Weather Forecasting Services Market Segmentation

• Asia Pacific 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

• Asia Pacific Weather Forecasting Services Market – By Purpose

  • Operational Efficiency
  • Safety
  • Others

• Asia Pacific Weather Forecasting Services Market– By Forecasting Type

  • Nowcast
  • Short Range
  • Medium Range
  • Long Range

• Asia Pacific Weather Forecasting Services Market – By Organization Size

  • Large Enterprises
  • Small and Medium-Sized Enterprises

• Asia Pacific Weather Forecasting Services Market – By Country

  • China
  • India
  • Japan
  • Australia
  • South Korea
  • Rest of Asia Pacific

Asia Pacific Weather Forecasting Services Report Scope