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Weather Forecasting Services Market to Reach $2.7 billion by 2026, at a CAGR of 9.9%

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Weather Forecasting Services Market to Reach $2.7 billion by 2026, at a CAGR of 9.9%

May 05
18:20 2023
Weather Forecasting Services Market to Reach $2.7 billion by 2026, at a CAGR of 9.9%
Weather Forecasting Services Market
The Weather Forecasting Services Market size, analysis, trends, & forecasts. The global market for Weather Forecasting Services categorized by Technology, Dimension, Resolution, Projection, Application, and Region.

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 :-
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Browse 143 market data Tables and 41 Figures spread through 278 Pages and in-depth TOC on “Weather Forecasting Services Market – Global Forecast to 2026”
View detailed Table of Content here

https://www.marketsandmarkets.com/Market-Reports/weather-forecasting-services-market-218398014.html

Increase in weather monitoring for disaster management

Disaster management depends on monitoring services for continuous information on changing weather scenarios. Weather forecasting and early warnings significantly help reduce the loss of life and damage caused by natural disasters such as floods, wildfires, hurricanes, avalanches, and tsunamis, among others. Continuous weather monitoring enables enhanced planning by civil, government, and military authorities, as well as better natural hazard mitigation and industrial planning.

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.

Top Weather Forecasting Services Market
“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.

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