The Climate Data Analysis Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Climate Data Analysis Global Market Report 2024, The climate data analysis market size has grown exponentially in recent years. It will grow from $0.88 billion in 2023 to $1.18 billion in 2024 at a compound annual growth rate (CAGR) of 33.5%. The growth in the historic period can be attributed to increased climate change concerns, regulatory compliance and reporting, rising frequency of extreme weather events, research and academic applications, government initiatives and funding..
The climate data analysis market size is expected to see exponential growth in the next few years. It will grow to $3.44 billion in 2028 at a compound annual growth rate (CAGR) of 30.7%. The growth in the forecast period can be attributed to growing emphasis on climate resilience, expanding applications in various sectors, increasing corporate sustainability initiatives, international collaboration for climate solutions, growing demand for actionable insights.. Major trends in the forecast period include integration of geographic information systems, application of blockchain for data security, policy-driven market growth, emergence of startups..
The rising focus on climate change mitigation strategies is expected to propel the growth of the climate data analysis market going forward. A climate change mitigation strategy involves implementing measures to reduce greenhouse gas emissions and limit the impact of human activities on the Earth’s climate, aiming to slow down the rate of global warming and minimize long-term environmental consequences. The demand for accurate, actionable insights to support decision-making in climate-related initiatives drives the adoption of advanced data analysis tools and technologies. For instance, in April 2023, the World Trade Organization, a Switzerland-based intergovernmental trade organization, the World Bank Group, a US-based financial institution, and the World Economic Forum, a Switzerland-based organization engaged in global economic issues, jointly introduced Action on Climate and Trade (ACT), an initiative aiding developing economies, including the least developed, in leveraging trade to achieve climate goals. This pilot project will collaborate with these economies to create trade-specific climate analysis. Further, in November 2022, according to the Council on Environmental Quality, a US-based Climate Change Conference of the Parties (COP27) launched the Net-Zero Government Initiative to achieve net-zero emissions from domestic government operations by the year 2050 with increasing support for clean growth, climate adaptation, and understanding and mitigating climate-related financial risks. Therefore, the rising focus on climate change mitigation strategies will drive the climate data analysis market.
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The climate data analysis market covered in this report is segmented –
1) By Tools: Climate Data Operators (CDO), Climate Forecast System (CFS), Climate Model Intercomparison Project (CMIP), National Centers For Environmental Prediction (NCEP) Reanalysis Data, European Centre For Medium-Range Weather Forecasts (ECMWF) ERA5, National Aeronautics And Space Administration (NASA), Modern-Era Retrospective Analysis For Research And Applications (MERRA), National Oceanic And Atmospheric Administration (NOAA), Climate Prediction Center (CPC) Data Global Historical Climatology Network (GHCN), Other Tools
2) By Method: Climate Model Evaluation, Variability In Earth System Models, Climate Data Processing And Visualization, Climate Data Formats, Statistical Methods
3) By Data Type: Precipitation, Temperature, Wind Speed, Humidity
4) By Application: Weather Forecasting And Prediction, Climate Change Research, Renewable Energy, Natural Resources Management, Urban Planning And Infrastructure
5) By End-User: Government Agencies And Research Institutions, Energy Sectors, Agriculture And Food Industry, Insurance And Risk Management, Transportation And Logistics
Top Major Players:
IBM Corporation
Schneider Electric SE
Verisk Analytics Inc.
MSCI Inc.
Risk Management Solutions Inc
North America was the largest region in the climate data analysis market in 2023.
Major companies operating in the climate data analysis market are focusing on developing technologically advanced solutions, such as artificial intelligence for environmental insights, to gain competitive advantages in the market. Artificial intelligence (AI) in environmental intelligence refers to software technologies that utilize AI to gather, analyze, and interpret vast amounts of data related to the environment. For instance, in October 2021, IBM Corporation, a US-based technology company, launched AI-driven software for Environmental Intelligence. It combines weather, climate, operational data, and environmental performance management into a single solution and helps companies anticipate and respond to climate risks, such as flooding and wildfires. The product is the first to combine AI, weather data, climate risk analytics, and carbon accounting capabilities in this way, allowing businesses to focus more on improving their operations and less on curating this complicated data.
The climate data analysis market report table of contents includes:
1. Executive Summary
2. Climate Data Analysis Market Characteristics
3. Climate Data Analysis Market Trends And Strategies
4. Climate Data Analysis Market – Macro Economic Scenario
5. Global Climate Data Analysis Market Size and Growth
….
32. Global Climate Data Analysis Market Competitive Benchmarking
33. Global Climate Data Analysis Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Climate Data Analysis Market
35.Climate Data Analysis Market Future Outlook and Potential Analysis
36. Appendix
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