Report : Middle East and Africa Weather Forecasting Services Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Industry (Agriculture, Aviation, Marine, Transport and Logistics, Energy and Utilities, Oil and Gas, Media, Insurance, Retail, Construction and Mining, and Others), Purpose (Operational Efficiency, Safety, and Others), Forecasting Type (Nowcast, Short Range, Medium Range, and Long Range), and Organization Size (Large Enterprises and Small and Medium-sized Enterprises)
The Safety Segment to Dominate Middle East and Africa Weather Forecasting Services Market during 2021-2028
According to a new market research study on “Middle East and Africa weather forecasting services market to 2028 – COVID-19 Impact and Regional Analysis and Forecast – by Industry, Purpose, Forecasting Type, Organization Size and Country,” is expected to reach US$ 150.29 million by 2028 from US$ 90.73 million in 2021. The market is estimated to grow at a CAGR of 7.5% from 2021 to 2028. The report provides trends prevailing in the Middle East and Africa weather forecasting services market along with the drivers and restraints pertaining to the market growth. Rapid change in climate leading to uncertainties in rainfall and government support along with heightened investments are major factors driving the growth of the Middle East and Africa weather forecasting services market. However, rising difficulties pertaining to weather forecasting models may hinder the growth of Middle East and Africa weather forecasting services market.
The weather forecasting services market in the Middle East & Africa (MEA) is majorly affected by the disruption in the supply chain of equipment and solutions used for weather forecasting. Owing to the various containment measure initiated by the governments—such as travel restrictions, factory shutdowns, and lockdowns—the supply and distribution of electronics equipment were hampered. The COVID-19 pandemic has significantly affected the economies worldwide; however, the MEA region is anticipated to be impacted more as there is already pressure on the economy of various oil-based countries due to falling oil prices. Additionally, factory lockdowns, business shutdowns, and travel bans are further aggravating the economic problems of the countries in the MEA. Hence, the estimated decline in MEA’s economic condition and the impact of COVID-19 on the growth of various industries in the region have negatively impacted the growth of the weather forecasting services market in 2021.
The market for Middle East and Africa weather forecasting services is segmented into industry, purpose, forecasting type, organization size and country. Based on industry, the market is segmented into agriculture, aviation, marine, transport and logistics, energy and utilities, oil and gas, media, insurance, retail, construction and mining, and others. In 2020, the energy and utilities segment held the largest share in Middle East and Africa weather forecasting services market. Based on purpose, the Middle East and Africa weather forecasting services market is divided into operational efficiency, safety, and others. The operational efficiency segment is expected to be the fastest growing segment over the forecast period. Based on forecasting type, the market is segmented into nowcast, short range, medium range, and long range. In 2020, the short range segment held the largest share in Middle East and Africa weather forecasting services market. Based on organization size, the Middle East and Africa weather forecasting services market is categorized into large enterprises and small and medium-sized enterprises. The small and medium sized enterprises segment is expected to be the fastest growing segment over the forecast period. Based on country, the Middle East and Africa weather forecasting services market is divided into South Africa, Saudi Arabia, UAE and rest of Middle East and Africa. In 2020, Saudi Arabia held the largest share in Middle East and Africa weather forecasting services market. Furthermore, in this present scenario of COVID 19 pandemic, the Middle East and Africa weather forecasting services market has been facing difficulties and several countries have suffered heavily. The manufacturing sectors in the Middle East and Africa countries have been experiencing low production and a weak supply chain. Thereby, impacting the market for weather forecasting services.
Accuweather, Inc., Fugro, IBM Corporation, DTN, and Storm Geo are some of the leading companies in the Middle East and Africa weather forecasting services market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market.
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