Marine Weather Application

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Marine Weather Application Market Size - Global

The estimated global market size for marine weather apps is $1.34 billion. While there is very little data available regarding the marine weather app market, I was able to find some relevant data that allowed me to calculate an estimated market size.

ASSUMPTIONS
After my search for precompiled data on the market size or the market share of top vendors in the marine weather app market produced no results, I embarked on finding a way to triangulate the data requested. While this market size is a very rough calculation, it should offer some insight into the potential market for such an app. I have focused primarily on recreational users of such apps (i.e., people who use boats for recreational purposes), as this group of people seems the most likely to use a mobile app for tracking weather. The potential for commercial maritime use of these apps would, of course, produce a much larger market, but as this group likely uses more sophisticated weather tracking devices, I have omitted them from this research.

Global figures for the number of recreation boaters were not publicly available, so I found the number of recreational boaters in the US and Europe and determined the percentage of the worldwide population they represent. Then I found statistics on the number of smartphone users and the percentage of those users who download mobile apps.

To calculate the final figure, I found an average price for marine weather apps. Many of these apps are free, but I found several apps that charge a fee and used them to calculate an average.

CALCULATIONS

There are 87 million US boaters and 36 million European boaters, giving us a total of 123 million boaters.

The US population is approximately 327,189,000, while the European population is about 742,431,700, giving us a total of approximately 1.07 billion. The global population is approximately 7.452 billion.
Therefore, the US and Europe make up 14.4% of the global population (1.07 billion / 7.452 billion).

Now, using the number of recreational boaters in the US and Europe and their percentage of the global population, we can estimate the number of recreational boaters, globally, to be 854,166,667 (123,000,000 / .144)

According to Deloitte, 82% of the global population has a smartphone. If we apply this percentage to the number of global boaters, we arrive at 700,416,667 boaters who are likely smartphone users (854,166,667 x .82).

The percentage of global smartphone users who download apps was not publicly available. However, a slighted dated (2015) Pew Research report states that 77% of US smartphone users download apps. Using this figure as a proxy for the unavailable global data, that would be approximately 539,320,833 boaters who may download an app (700,416,667 x .77).

Most marine weather apps are available for free. However, several of them charge a fee. Looking at a sampling of these apps, fees range from $1.99 (here and here) to $2.99 (here and here). Therefore, the average price would be 2.49 ((1.99 + 2.99) / 2).

Using the triangulated data, we can estimate the market size by multiplying the potential number of boaters who download mobile apps by the average price of a marine weather app (539,320,833 x 2.49) to get a potential market size of $1.34 billion.

CONCLUSION
In conclusion, the potential global market size for a marine weather app is $1.34 billion.
Sources
Sources