New York, Sept. 06, 2022 (GLOBE NEWSWIRE) -- According to Persistence Market Research, demand for environmental intelligence platforms is expected to increase rapidly at a CAGR of 12.9% from 2022 to 2032. The report also forecasts that the global environmental intelligence platform market will reach a revenue of US$ 2.26 Bn by the end of 2032.
In flood-prone areas with high agricultural productivity, a lack of reasonably and reliably precise information about constantly changing weather conditions can be disastrous. As a result, long-term weather forecasting is critical for accurately predicting the occurrence of droughts and floods in such areas. Several advances in long-term weather forecasting have taken place, involving the use of various advanced technologies such as artificial intelligence and big data analytics, resulting in an increase in the accuracy of this type of forecasting.
Long-term, high-precision, and dependable weather forecasting provides several economic benefits that are expected to benefit industries ranging from transportation to agriculture around the world. This is expected to drive the demand growth for environmental intelligence platforms across the world.
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Key Takeaways from Market Study
- By solution, environmental intelligence platforms are anticipated to account for a leading market share.
- Demand for services is estimated to surge at a CAGR of 14.3% through 2032.
- By application, carbon footprint management leading the market. However, sustainability management is likely to progress faster at a CAGR of 15.8% through 2032.
- By industry, the aerospace and aviation sector is anticipated to surge ahead at a CAGR of 18.1% between 2022 and 2032.
- By region, North America is expected to lead the global market with a share of 36.4%, followed by Europe. South Asia and Pacific is anticipated to emerge as the fastest-growing regional market over the decade.
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“Factors such as growing need to improve safety in rainfall uncertainties & airline operations and increase in agriculture to meet the needs of a growing population are expected to propel the demand for environmental intelligence platforms,” says a Persistence Market Research analyst.
Growing Awareness towards Carbon Emissions
Carbon and other greenhouse gases are emitted at every stage of the supply chain, from sourcing raw materials to transporting finished products. As a result, increased demand for consumer goods will undoubtedly increase carbon emissions.
This rising carbon emission throughout the supply chain is playing a significant role in raising environmental awareness among industrialists. As a result, demand for business intelligence platforms among large- as well as medium-sized enterprises is skyrocketing.
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More Valuable Insights on Offer
Persistence Market Research’s report on the environmental intelligence platform industry is segmented into four major sections – solution (environmental intelligence platforms (cloud-based and on-premise) and services (implementation & integration, consulting, and support & maintenance)), application (carbon footprint management, regulatory risk & compliance, sustainability management, and others), industry (aerospace & aviation, industrial manufacturing, energy & utilities, government, agriculture, and others), and region (North America, Latin America, Europe, East Asia, South Asia and Pacific, and the Middle East and Africa).
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