Weather Forecasting Services Market worth $2.7 billion by 2026

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Weather Forecasting Services Market worth 2.7
billion by 2026 The Weather Forecasting Services
Market size is projected to grow from an
estimated USD 1.7 billion in 2021 to USD 2.7
billion by 2026, at a CAGR of 9.9 during the
forecast period. Some of the factors fueling the
markets growth include increasing safety
concerns in end-use industries and a rise in
climate change patterns resulting in
uncertainties related to rainfall. Increasing su
percomputing capabilities and an upsurge
production of energy are
in the renewable anticipated
to open several
growth opportunities for weather forecast
service providers during the forecast period.
However, uncertainty in forecasting methods
for different industries, the complexity of
weather forecasting models, and the dynamic
nature of atmospheric variables are expected to
restrain the market growth during the forecast
period. Download PDF Brochure _at_ https//www.market
sandmarkets.com/pdfdownloadNew.asp?id218398014 Ty
pically 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 industry is
estimated to be account for the largest share in
the weather forecasting services market. Based on
purpose, the market is estimated to be dominated
by the safety segment with a market share of
highest market share in 2021. This growthcan be
attributed to the increasing scope of weather
forecasting services in end-use industries to
improve safety and reduce losses are the key
factors driving the growth of the market. Based
on 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.
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Based on organization size, the small and
medium-sized enterprises is estimated to grow at
the 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. Ask for Sample Report
_at_ https//www.marketsandmarkets.com/requestsampleN
ew.asp?id218398014
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