Weather Forecasting Services Market Projected to Reach $2.7 billion by 2026

1. WeatherForecastingServicesMarket Projected to Reach $2.7 Billion by2026 According to a research report "Weather Forecasting Services Marketby 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 weatherforecastingservicesmarketsizeisprojectedtogrowfromanestimatedUSD 1.7 billion in 2021 to USD2.7 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. Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=218398014 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 themarket. The small and medium-sized enterprises segment is projected to grow at the highest CAGR during the forecastperiod 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 forecastperiod.

2. The short-range forecast type segment accounts for the largest market size during the forecastperiod 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 & gasindustry. “Asia Pacific is projected to grow at the highest CAGR during theforecast 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 Pacificregion. Key MarketPlayers 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 otherregions. Ask for Sample Report@ https://www.marketsandmarkets.com/requestsampleNew.asp?id=218398014 AboutMarketsandMarkets™ 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.

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