Core Insights - The global weather forecasting services market is expected to grow significantly, reaching approximately $2.26 billion in 2024 and projected to expand to $4.59 billion by 2034, with a compound annual growth rate (CAGR) of 7.3% [3][11]. Market Overview - The report provides essential insights for strategists and marketers as the market stabilizes post-pandemic, examining historical trends and future projections to 2034 [2]. - The market is segmented into onshore and offshore services, with onshore services leading at 71.73% of the market in 2024, valued at $1.62 billion [4]. Growth Projections - The market is projected to grow at a CAGR of 5.81% from 2019 to 2024 and at a CAGR of 7.70% from 2024 to 2029, with the offshore segment expected to grow at a CAGR of 8.28% during the same period [3][4]. - Short-range forecasting is anticipated to grow at a CAGR of 10.18% from 2024 to 2029, leading the market by forecast type [4]. Regional Analysis - North America holds the largest market share at 37.34% in 2024, while Asia Pacific is expected to be the fastest-growing region with a projected CAGR of 11.07% [5]. - South America follows closely with a CAGR of 9.76% [5]. Industry Segmentation - The energy and utilities sector currently dominates the market at 21.23% or $480.38 million, while the aviation industry is forecasted to grow rapidly with a 9.36% CAGR by 2029 [5]. Market Drivers and Challenges - Key external factors driving market growth include increased demand in renewable energy, agriculture, and maritime transportation, along with enhanced weather monitoring for disaster management [6]. - Challenges include trade wars, infrastructure inadequacies in remote areas, and unreliable data networks [6]. Competitive Landscape - Major players in the market include The Weather Company (IBM), AccuWeather Inc., and DTN LLC, focusing on AI integration and strategic partnerships to enhance data accuracy [7]. - Analysts recommend prioritizing AI-driven long-range tools and satellite-driven platforms to capture high-value market segments [7]. Emerging Opportunities - Significant growth potential exists in onshore services, short-range forecasts, and the aviation industry from 2024 to 2029 [8]. - Strategies include expanding into the Asia Pacific market and strengthening presence in established regions through strategic B2B promotions and value-based pricing [8].

Core Viewpoint - Malaysia is set to enhance its weather forecasting capabilities through a new numerical weather prediction system, which will utilize advanced technology including a supercomputer with a processing speed of six petaflops [1][2]. Group 1: System Development and Features - The new weather prediction system will be housed at the Public Sector Data Centre in Kulim, Kedah, and will incorporate High-Performance Computing, Artificial Intelligence, and Big Data Analytics [2]. - The project is expected to be completed by 2027, allowing forecasts to be issued up to 14 days in advance, an improvement from the current seven-day forecast [2]. - The system will feature enhanced processing power and higher-resolution weather models, offering a resolution of 300 meters compared to the previous one-kilometer resolution [5][6]. Group 2: Impact on Disaster Management - The new system is anticipated to strengthen early warning systems and improve disaster preparedness, particularly for floods, thereby enhancing the competency and efficiency of disaster warning management [3][5]. - The system will provide more time for the National Disaster Management Agency and other strategic agencies to prepare for potential disasters [4][6]. - While the system can forecast large-scale weather patterns earlier, it remains challenging to predict small-scale thunderstorms due to their localized nature [7]. Group 3: Economic and Social Implications - The 2021 Special Report on Flood Impacts indicated that total losses from floods that year were RM6.1 billion, with subsequent years showing losses of RM0.6 billion in 2022, RM0.8 billion in 2023, and RM0.9 billion in 2024 [8][9]. - The deputy secretary-general emphasized that the impacts of floods extend beyond immediate losses, affecting economic and social stability, thus necessitating greater preparedness and resilience [9].