North America Region Witnessing the Highest Growth in Weather Forecasting Services Market

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According to the latest market research the
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", 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. Browse 230 market data Tables and 45
Figures spread through 284 Pages and in-depth
TOC on "Weather Forecasting Services Market -
Global Forecast to 2025" Download PDF Brochure
_at_ https//www.marketsandmarkets.com/pdfdownloadNew
.asp?id218398014 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.
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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. 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. 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.
Organizations in this region were the early
adopters of advanced technologies. Technological
advancements, such as improvements in data
analytics and computer forecast models and an
increase in the use of supercomputers delivering
more computing power, are working in favor of the
market in North America. The focus on focused on
implementing the latest WFS technologies to make
accurate weather forecasting is driving the
growth of weather forecasting services market in
the region. Key Market Players 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. Ask for Sample Report _at_ https//www.marke
tsandmarkets.com/requestsampleNew.asp?id218398014
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