Global Wind and Solar Power Forecasting Services Supply, Demand and Key Producers, 2023-2029

Global Wind and Solar Power Forecasting Services Supply, Demand and Key Producers, 2023-2029

The global Wind and Solar Power Forecasting Services market size is expected to reach $ million by 2029, rising at a market growth of % CAGR during the forecast period (2023-2029).

Wind and solar power forecasting services are specialized solutions that provide accurate predictions of the electricity production or output from wind turbines and solar photovoltaic (PV) systems. These services use a combination of meteorological data, historical performance data, and advanced modeling techniques to forecast the expected generation of renewable energy from wind and solar sources. The primary purpose of these forecasting services is to assist grid operators, utilities, and energy producers in effectively managing the integration of variable renewable energy sources into the power grid.

Key aspects of wind and solar power forecasting services include:

Data Integration: These services integrate various sources of data, including real-time weather data, historical power generation data, and data from the renewable energy assets themselves. This data is used to make accurate forecasts.

Meteorological Data: Wind and solar power forecasting services rely heavily on meteorological data, including wind speed, wind direction, solar radiation, cloud cover, temperature, and other weather-related parameters.

Machine Learning and Models: Advanced forecasting models, such as numerical weather prediction models and machine learning algorithms, are employed to analyze historical data and make predictions about future renewable energy generation.

Spatial and Temporal Resolution: The services provide forecasts at various spatial and temporal resolutions, from short-term forecasts (a few hours ahead) to longer-term forecasts (several days ahead). High-resolution forecasts are essential for grid integration.

Wind and solar power forecasting services play a critical role in facilitating the integration of renewable energy into the electricity grid. They help grid operators balance supply and demand, reduce the need for backup power generation, and improve the overall reliability of the grid. Accurate forecasts also support the efficient use of renewable energy resources and contribute to the economic viability of wind and solar energy projects.

This report studies the global Wind and Solar Power Forecasting Services demand, key companies, and key regions.

This report is a detailed and comprehensive analysis of the world market for Wind and Solar Power Forecasting Services, and provides market size (US$ million) and Year-over-Year (YoY) growth, considering 2022 as the base year. This report explores demand trends and competition, as well as details the characteristics of Wind and Solar Power Forecasting Services that contribute to its increasing demand across many markets.

Highlights and key features of the study

Global Wind and Solar Power Forecasting Services total market, 2018-2029, (USD Million)

Global Wind and Solar Power Forecasting Services total market by region & country, CAGR, 2018-2029, (USD Million)

U.S. VS China: Wind and Solar Power Forecasting Services total market, key domestic companies and share, (USD Million)

Global Wind and Solar Power Forecasting Services revenue by player and market share 2018-2023, (USD Million)

Global Wind and Solar Power Forecasting Services total market by Type, CAGR, 2018-2029, (USD Million)

Global Wind and Solar Power Forecasting Services total market by Application, CAGR, 2018-2029, (USD Million).

This reports profiles major players in the global Wind and Solar Power Forecasting Services market based on the following parameters – company overview, revenue, gross margin, product portfolio, geographical presence, and key developments. Key companies covered as a part of this study include IBM, Vaisala, DTU Wind Energy, NREL, NRG Systems, Reuniwatt, Deutscher Wetterdienst, AccuWeather and Weathernews, etc.

This report also provides key insights about market drivers, restraints, opportunities, new product launches or approvals.

Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the World Wind and Solar Power Forecasting Services market.

Detailed Segmentation:

Each section contains quantitative market data including market by value (US$ Millions), by player, by regions, by Type, and by Application. Data is given for the years 2018-2029 by year with 2022 as the base year, 2023 as the estimate year, and 2024-2029 as the forecast year.

Global Wind and Solar Power Forecasting Services Market, By Region:
United States
China
Europe
Japan
South Korea
ASEAN
India
Rest of World

Global Wind and Solar Power Forecasting Services Market, Segmentation by Type
Short-term Forecasts (A Few Hours Ahead)
Longer-term Forecasts (Several Days Ahead)

Global Wind and Solar Power Forecasting Services Market, Segmentation by Application
Energy Providers
Power Traders
Grid Operators

Companies Profiled:
IBM
Vaisala
DTU Wind Energy
NREL
NRG Systems
Reuniwatt
Deutscher Wetterdienst
AccuWeather
Weathernews
Aphelion
Energy Meteo Systems

Key Questions Answered

1. How big is the global Wind and Solar Power Forecasting Services market?

2. What is the demand of the global Wind and Solar Power Forecasting Services market?

3. What is the year over year growth of the global Wind and Solar Power Forecasting Services market?

4. What is the total value of the global Wind and Solar Power Forecasting Services market?

5. Who are the major players in the global Wind and Solar Power Forecasting Services market?