Weather Forecasting Services Market Analysis & Forecast Over the Next Five Years

1
According to the latest market research report
the Weather Forecasting Services Market is
projected to grow from USD 1.10 Billion in 2016
to USD 1.56 Billion by 2021, at a CAGR of
7.15 during the forecast period. Factors such rap
id industrialization, growth in transportation
(aviation and
constant reduce
shipping), measures emission
to
of greenhouse
gases, increase in the production of clean
energy (renewable energy), and increase in
demand for more reliable and accurate weather
forecast are some of the key factors that are
expected to drive the weather forecasting
services market during the forecast
period. Download PDF Brochure _at_ https//www.market
sandmarkets.com/pdfdownloadNew.asp?id218398014 Ba
sed on industry, the renewable energy segment is
expected to lead the weather forecasting
services market during the forecast period On the
basis of industry, the weather forecasting
services market has been segmented into
renewable energy, oil gas, shipping, media,
agriculture, insurance, retail, aviation,
utility, and others. The renewable energy segment
is expected to lead the weather forecasting
services market during the forecast period.
Increase in electricity consumptions and energy
requirements for domestic use, and all countries
around the globe are facing several challenges in
meeting the increased energy demand. Governments
are deploying renewable energy efficiently to
supplement energy requirements of countries,
thereby reducing the emission of greenhouse gases
and producing clean energy. All these factors
have fueled the growth of the renewable energy
industry globally. Based on purpose, the
operational efficiency segment is expected to
grow at the highest CAGR during the forecast
period The weather forecasting services market
has been segmented on the basis of purpose into
operational efficiency, safety, and others. The
operational efficiency segment is anticipated to
grow at the highest CAGR during the forecast
period. It is expected to lead the weather
forecasting services market on account of its
purpose of efficiency and economic viability.
Increasing demand for renewable energy power
plants, growth in international trade between
countries, and transportation (shipping and
aviation) have resulted in increase in demand for
operational efficiency.
2
The Asia Pacific weather forecasting services
market is expected to grow at the highest CAGR
during the forecast period The weather
forecasting services market in Asia-Pacific is
estimated to account for the largest share in
2016. The weather forecasting services market in
Asia-Pacific is anticipated to grow at the
highest CAGR during the forecast period. Factors
such as growth in air sea transport,
dependency on rainfall for water, constant
measures to increase the production of clean
energy, improving economic conditions in the
Asia-Pacific region, and increasing concerns for
safety security are driving the Asia- Pacific
weather forecasting services market. Key Market
Players Major players operating in the weather
forecasting services market are StormGeo
(Norway), BMT Group (U.K.), Fugro (Netherlands),
ENAV spa (Europe), The Weather Company (U.S.),
Global Weather Company (U.S.), Mateoblue (U.S.),
Precision Weather (U.S.), METEO Group (U.K.),
and Met Office (U.K.). Contracts, new product
launches, expansions, partnership,
collaborations, and agreements are the major
growth strategies adopted by the players to
strengthen their position in the weather
forecasting services market. Ask for Sample
Report _at_ https//www.marketsandmarkets.com/request
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