Salemonline Journal

Weather Forecasting Services Market worth $2.7 billion by 2026, at CAGR of 9.9%

 Breaking News
  • No posts were found

Weather Forecasting Services Market worth $2.7 billion by 2026, at CAGR of 9.9%

March 01
02:36 2022
Weather Forecasting Services Market worth $2.7 billion by 2026, at CAGR of 9.9%
Weather Forecasting Services Market
[278 Pages] The Weather Forecasting Services Market size is Expected to reach USD 2.7 billion by 2026 from USD 1.7 billion in 2021, at a CAGR of 9.9% during the forecast period.

According to a research report Weather Forecasting Services Market by Industry (Aviation, Agriculture, Marine, Oil & Gas, Energy & Utilities, Insurance, Retail, Media), Forecasting Type (Nowcast, Short, Medium, Extended, Long), Purpose, Organization Size, & Region – Global Forecast to 2026″ published by MarketsandMarkets, the weather forecasting services market size is projected to grow from an estimated USD 1.7 billion in 2021 to USD 2.7 billion by 2026, at a CAGR of 9.9% during the forecast period. This growth can be attributed to the increasing safety concerns in end-use industries and a rise in climate change patterns resulting in uncertainties related to rainfall.

• Informational PDF Brochure :- https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=218398014

Browse 143 market data Tables and 41 Figures spread through 278 Pages and in-depth TOC on “Weather Forecasting Services Market by Purpose, Organization Size, & Region – Global Forecast to 2026″View detailed Table of Content herehttps://www.marketsandmarkets.com/Market-Reports/weather-forecasting-services-market-218398014.html

Weather Forecasting Services Market

The insurance segment accounts for the largest market size during the forecast period

Typically includes aviation, transport & logistics, media, insurance, retail, construction & mining, marine, agriculture, energy & utilities, and oil & gas, among others, are considered in the weather forecasting services market. The insurance segment is estimated to be account for the largest share in the weather forecasting services market. The insurance industry uses weather alerts to help policyholders avoid damages that can lead to future claims. The industry is positioned to communicate climate change risks and promote adaptation to its unavoidable consequences thus in turn fueling the growth of the market.

The small and medium-sized enterprises segment is projected to grow at the highest CAGR during the forecast period

Based on the organization size, the weather forecasting services market has been segmented into large enterprises and Small & Medium-Sized Enterprises. the small and medium-sized enterprises is estimated to growth at a highest CAGR in the weather forecasting services market during the forecast period. Increasing awareness of the benefits of implementing weather forecasting solutions is expected to boost their adoption among SMEs during the forecast period.

The short-range forecast type segment accounts for the largest market size during the forecast period

Based on forecast type, the weather forecasting services market is segmented into nowcast, short-range, medium-range, extended-range, and long-range forecast type. The short-range forecast type is estimated to lead the weather forecasting services market during the forecast period. The growth of this segment is attributed to the increasing need for short-range forecasts by the renewables and oil & gas industry.

“Asia Pacific is projected to grow at the highest CAGR during the forecast period.”

Asia Pacific is projected to be the fastest-growing region in the weather forecasting services market during the forecast period, backed by significant development in maritime and air transport, increasing demand for continuous weather monitoring for disaster management, rapid industrialization, and continuing regional economic growth. Global warming has led to frequent changes in weather patterns, leading to heatwaves and droughts. The number of incidents of natural disasters has increased due to these fluctuations in the weather. Fluctuating weather conditions are a cause for concern across different industries, such as agriculture, aviation, transport & logistics, retail, and energy & utilities. A reliable system for an advanced warning is important to take preventive steps to save these industries from huge damages and losses. This, in turn, is expected to drive the weather forecasting services market in the Asia Pacific region.

Major players operating in the weather forecasting services market include The Weather Company (US), AccuWeather (US), DTN (US), StormGeo (Norway), Fugro (Netherlands), and ENAV S.p.A. (Italy), among others. These companies have advance technologies and strong distribution networks across North America, Europe, and other regions.

Don’t miss out on business opportunities in Weather Forecasting Services Market. Speak to our analyst and gain crucial industry insights that will help your business grow.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledgestore” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Media Contact
Company Name: Marketsandmarkets pvt ltd
Contact Person: Mr. Aashish Mehra
Email: Send Email
Phone: 18886006441
Address:630 Dundee Road Suite 430
City: Northbrook
State: IL 60062
Country: India
Website: https://www.marketsandmarkets.com/Market-Reports/weather-forecasting-services-market-218398014.html