Weather Forecasting Services Market worth $2.3 billion by 2025 - Exclusive Report by MarketsandMarketstm

CHICAGO, Oct. 23, 2020 /PRNewswire/ -- According to the new market research report "Weather Forecasting Services Market by Industry (Aviation, Agriculture, Marine, Oil & Gas, Energy & Utilities, Insurance, Retail, Media), Forecasting Type (Nowcast, Short, Medium, Long), Purpose, Organization Size & Region - Global Forecast to 2025", published by MarketsandMarketstm, the Weather Forecasting Services Market  size is projected to grow from an estimated USD 1.5 billion in 2020 to USD 2.3 billion by 2025, at a CAGR of 9.3% 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.

Ask for PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=218398014

The energy & utility 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 energy & utilities is estimated to be account for the largest share in the weather forecasting services market. Weather forecasting services play a crucial role in designing the optimal offshore wind turbine capacity, depending on climatic conditions. High dependence on weather conditions is expected to fuel the growth of the market in the renewable energy sector, in turn, is expected to contribute to the growth of the energy & utilities segment during the forecast period.

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 forecasting type segment accounts for the largest market size during the forecast period

Based on forecasting type, the weather forecasting services market is segmented into nowcast, short-range, medium-range, and long-range forecasting type. The short-range forecasting 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.

Browse in-depth TOC on "Weather Forecasting Services Market"

229 ? Tables
44 ? Figures
279 ? Pages

Inquiry Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=218398014

"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.

Related Reports:                                                                                                                                             

Weather Forecasting Systems Market by Vertical (Aviation, Agriculture, Renewable), Solution (Hardware: Data Loggers, Anemometers, Software: Big Data, Super Computing), Application, Forecast Type, Region - Global Forecast to 2025

About MarketsandMarketstm 

MarketsandMarketstm 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 MarketsandMarketstm for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarketstm 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. MarketsandMarketstm now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarketstm 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, "Knowledge Store" 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.

Contact:

Mr. Aashish Mehra
MarketsandMarketstm INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: [email protected] 
Visit Our Web Site: https://www.marketsandmarkets.com
Research Insight : https://www.marketsandmarkets.com/ResearchInsight/weather-forecasting-services-market.asp 
Content Source :  https://www.marketsandmarkets.com/PressReleases/weather-forecasting-services.asp  

Logo: https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg