Weather Forecasting Services Market Outlook and Global Forecast to 2025 - PowerPoint PPT Presentation

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Weather Forecasting Services Market Outlook and Global Forecast to 2025

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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. – PowerPoint PPT presentation

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Title: Weather Forecasting Services Market Outlook and Global Forecast to 2025


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Weather forecasting services are a set of
decision-support solutions used to carry out
weather-sensitive operations to safeguard people,
assets, and profits and improve business
performance. The services will differ in terms of
their usage, technology, and forecast purposes.
These services are required in aviation,
marine, agriculture, energy utilities, oil
gas, among other industries, to plan weather-
sensitive operations in advance. 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. Download PDF Brochure
_at_ https//www.marketsandmarkets.com/pdfdownloadNew
.asp?id218398014 COVID-19 impact on the Weather
Forecasting Services Market The COVID-19 pandemic
has impacted the weather forecasting services
market significantly. Due to the grounding of
most of the global fleet, there has been a
dramatic reduction in commercial aircraft
flights, which supplies crucial weather
observations. Information from commercial planes
is one of several sources that meteorological
bodies use to predict the weather and contribute
to the accuracy of forecasting most weather
phenomena, including hurricanes. At the end of
March 2020, data provided by US aircraft fell
50, while, as per the European Centre of
Medium-Range Weather Forecasts (ECMRWF), readings
provided by aircraft across the continent
reduced by 80. The center estimates that if all
data provided by aircraft were cut off, the
accuracy of weather forecasts would fall about
15. There will be a significant drawback in
both short and long-term readings due to the
impact of COVID-19 on the global airline
industry. The energy utilities 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. The
growing use of electric systems, increasing
domestic energy demand from various countries
across the globe, and the depletion of fossil
fuels have led governments of various countries
to resort to renewable sources of energy,
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which, 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. Weather forecasting services
offer cost-efficiency, improved scalability, 24x7
availability, and enhanced decision-making.
Hence, SMEs are expected to adopt weather
forecasting services at a high rate, as
cost-effectiveness is important for these
organizations. 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 rnagt, 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 event management
industry to plan sports and social events. Also,
increasing demand for short range weather
forecasting in renewables and oil gas industry
verticals. North America is expected to account
for the largest share in 2020 The weather
forecasting services industry has been studied
for North America, Europe, Asia Pacific, Middle
East, Latin America, and Africa. North America is
estimated to account for the largest share of
the weather forecasting services market in 2020.
Weather forecasting technologies have been widely
adopted across most industries in North America.
The region has a large presence of prominent
technology players focusing on innovations. Key
Market Players Major players operating in the
weather forecasting services market The Weather
Company (US), AccuWeather (US), DTN (US),
StormGeo (Norway), Fugro (Netherlands), and ENAV
S.p.A. (Italy), among others. Ask for Sample
Report _at_ https//www.marketsandmarkets.com/request
sampleNew.asp?id218398014 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.
3
MarketsandMarketss 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. Contact Mr.
Aashish Mehra MarketsandMarkets INC. 630
Dundee Road Suite 430 Northbrook, IL 60062 USA
1-888-600-6441
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