API Web Service Market Analysis by Top Trends and Growth Opportunities to 2032
The global API Web Service market size was USD 2.68 Billion in 2022 and is expected to reach USD 4.93 Billion in 2032, and register a rapid revenue CAGR of 7 % during the forecast period. Rising demand for precise and timely weather data across various industries, including agriculture, aviation, transportation, energy, and construction, among others, is a key factor driving market revenue growth. API Web Services are essential to provide information on weather patterns and conditions for businesses to make wise decisions and reduce the risks connected with weather-related incidents.
With the frequency and intensity of extreme weather occurrences such as hurricanes, floods, and droughts, there is rising demand for precise and trustworthy meteorological data. As a result, the need for API Web Services that provide real-time updates and cutting-edge analytics capabilities to help organizations anticipate and get ready for weather-related risks has increased.
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In addition, increasing use of Internet of Things (IoT)-based weather monitoring systems as well as the incorporation of Artificial Intelligence (AI) and Machine Learning (ML) technologies into API Web Services are other key factors driving revenue growth of the market. Moreover, rising demand for API Web Services for applications, including crop planning, irrigation management, and Pest Control is also expected to drive market revenue growth during the forecast period.
Another significant end-user of API Web Services is the aviation sector, which relies on information for effective and safe flight operations. Airlines can decide on flight routes and timetables with the help of API Web Services, which offer real-time information on weather patterns and conditions. Also, as weather conditions have a significant impact on energy output and efficiency, the energy sector primarily relies on API Web Services for the development of Renewable Energy sources such as wind and solar power.
Competitive Landscape:
- IBM Corporation
- AccuWeather
- The Weather Company (IBM)
- DTN
- Vaisala
- AerisWeather
- Skyview Systems Ltd.
- Environdata Weather Stations
- Weatherzone
- MeteoGroup
The global market is further segmented into type and application:
| By Type Service Outlook |
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| By End-Use Outlook |
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Regional analysis provides insights into key trends and demands in each major country that can affect market growth in the region.
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Rest of APAC)
- Latin America (Brazil, Rest of LATAM)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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