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South East Asia and India Weather Forecast Market Trends

ID: MRFR//14625-HCR | 128 Pages | Author: Shubham Munde| July 2024

South East Asia and India Weather Forecast Market Overview

South East Asia and India Weather Forecast Market Size was valued at USD 0.2072 Billion in 2022. The Weather Forecast market industry is projected to grow USD 0.4415 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 7.30% during the forecast period (2023 - 2032). Ongoing meteorological advancements, heightened public concern about climate change, and an increasing demand for accurate weather reports, are the main market drivers anticipated to propel the weather forecast market in South East Asia and India.

South East Asia and India Weather Forecast Market Overview

Source Secondary Research, Primary Research, MRFR Database and Analyst Review

South East Asia and India Weather Forecast Market Trends

  • Rising need for reliable weather forecasts is driving the market growth

The increasing importance of possessing accurate weather forecasts is a key factor. There has been an upsurge in the need for weather forecasts because of the growing awareness of the effects of climate change on many industries, such as agriculture, energy, transportation, and disaster management. The tourist industry in India and Southeast Asia also uses weather predictions while organizing outdoor events, itineraries, and other tourism-related pursuits. The success of tourism firms is affected by weather predictions, which in turn affect travel decisions. Since funding the improvement of weather prediction systems, the market CAGR likely to profit from the weather forecasts service industry; the need for emergency medical services is anticipated to be driven by factors including an aging population and numerous chronic illnesses, which are anticipated to enhance the market expansion in the future years.

Furthermore, increased accuracy and timeliness in weather predictions for Southeast Asia and India are outcomes of technological developments such as data analytics, weather modeling, and the utilization of satellite data. The demand for is driven by a number of factors weather services in South East Asia and India. One is the growing capacity for better forecasts made possible by meteorological innovations. Additionally, there is growing public awareness of the significance of weather forecasts and the ease with which they can access this information through variouschannels, including online social and mobile apps. The weather forecasting industry is seeing a rise in the prevalence of public-private collaborations. Government meteorological organizations and private weather service companies work together to improve forecasts by utilizing resources, knowledge, and technology and growing the demand for weather forecasting in South East Asia and India in the coming years. For example, DTN announced its new WeatherFactor API. This tool will assist freight merchants in bettering their pre-trip planning and predicting risks associated with voyage duration and more maritime data APIs for the shipping industry to come. Therefore, the market is expanding due to consumers' increasing demand for weather forecast services. Thus, driving the Weather Forecast market revenue.

South East Asia and India Weather Forecast Market Segment Insights

Weather Forecast Type Insights

The South East Asia and India weather forecast market segmentation, based on type, includes short, medium, and long-range forecasting. The short-range forecasting segment dominated the market mostly. Transportation system management relies heavily on short-range forecasts. Weather predictions are essential for many industries, including agriculture, shipping, and ground transportation. Long-range forecasts help airlines and shippers prepare for bad weather, while short-range forecasts help farmers plan their crops. They can plan planting, harvesting, and other agricultural tasks more effectively when they know what the weather will likely be like in the coming days.

Figure1: South East Asia and India Weather Forecast Market, by Type, 2022&2032 (USD Billion)

South East Asia and India Weather Forecast Market, by Type, 2022&2032 (USD Billion)

Source Secondary Research, Primary Research, MRFR Database and Analyst Review

Weather Forecast Application Insights

The South East Asia and India weather forecast market segmentation, based on application, includes aviation, media and consumer, energy & utilities, transportation, BFSI, agriculture, marine, and others. The aviation category generated the most income because airline route optimization and weather forecasts aid planning. Accurate weather forecasts are crucial for guaranteeing aircraft safety, and avoiding bad weather can assist in reducing flight cancellations, saving money on fuel, and improving overall operational efficiency. For pilots to make educated judgments and safely manage difficult weather conditions, up-to-the-minute weather reports covering swirling, severe thunderstorms, icing, and limited visibility are essential. The aviation industry is expanding on weather forecasting because of accidents of accurate weather information in Southeast Asia and India.

Weather Forecast Country Insights

The weather forecasting industry and technical developments have rapidly expanded in the South East Asia and India. Many industries in Southeast Asia and India depend on reliable weather predictions, including farming, transport, tourism, and disaster management, because of the region's varied topography and geographical positioning. Possessing accurate and up-to-date weather forecasts for Southeast Asia and India allows people and companies to better prepare for the future and avoid problems. Additionally, with the rise of internet platforms and smartphone apps, more people can access weather reports. Many people in this region anticipate the daily weather updates and long-term forecasts these tools provide to drive increased demand for weather forecasting services in Southeast Asia and India in the coming years.

South East Asia and India Weather Forecast Key Market Players & Competitive Insights

Leading market players are investing heavily in research and development to expand their product lines, which will help the weather forecast market grow even more. Market participants are also undertaking various strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the weather forecast industry must offer cost-effective items.

Major players in the Weather Forecast market are attempting to increase market demand by investing in research and development operations, including Skymet, StormGeo, IBM, Fugro, DTN (MeteoGroup), BKC WeatherSys, Offshore Weather Services, Farmneed AgriBusiness, CoralComp, and Aaizel Tech.

Key Companies in the Weather Forecast market include

  • Skymet

  • StormGeo

  • IBM

  • Fugro

  • DTN (MeteoGroup)

  • BKC WeatherSys

  • Offshore Weather Services

  • Farmneed Agri-Business

  • CoralComp

  • Aaizel Tech

Weather Forecast Industry Developments

For Instance, December 2022: StormGeo, a subsidiary of Alfa Laval and a leading provider of weather information and decision-support solutions for the maritime sector introduced a new Carbon Intensity Indicator (CII) Simulator.

For Instance, July 2022: SailGP is the world's best sail racing tournament, and AccuWeather has announced an official partnership with them. SailGP has chosen AccuWeather as its official weather provider because of the trust and reliability it provides to event organizers and elite racing teams.

South East Asia and India Weather Forecast Market Segmentation

Weather Forecast Type Outlook

  • Short-range Forecasting

  • Medium-range Forecasting

  • Long-range Forecasting

Weather Forecast Application Outlook

  • Aviation

  • Media and Consumer

  • Energy & Utilities

  • Transportation

  • BFSI

  • Agriculture

  • Marine

  • Others

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