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Asia-Pacific Short-Term Solar Radiation Forecasting Services Market Expected to Reach USD 810.81 Million by 2031 | Top Players such as - Solargis, Solcast and AccuWeather

09-18-2023 07:22 PM CET | IT, New Media & Software

Press release from: Allied Market Research

Asia-Pacific Short-Term Solar Radiation Forecasting Services

According to the report published by Allied Market Research, The Asia-Pacific Short-Term Solar Radiation Forecasting Services Market Expected to Reach USD 810.81 Million by 2031 | Top Players such as - Solargis, Solcast and AccuWeather. The report provides an extensive analysis of changing market dynamics, major segments, value chain, competitive scenario, and regional landscape. This research offers valuable able guidance to leading players, investors, shareholders, and startups in devising strategies for sustainable growth and gaining a competitive edge in the market.

Surge in implementation of strict laws mandating use of renewable energy and climate monitoring to boost the Asia-Pacific short-term solar radiation forecasting services market trends. The onset of pandemic had an adverse impact on demand for energy and there was a rise in energy prices during the pandemic.

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The Asia-Pacific Short-Term Solar Radiation Forecasting Services market was valued at USD 165.28 million in 2021, and is projected to reach USD 810.82 million by 2031, growing at a CAGR of 17.6% from 2022 to 2031.

The Asia-Pacific short-term solar radiation forecasting services market is segmented on the basis of type, end user industry, and region. By type, it is categorized into global horizontal irradiance, direct normal irradiance, and diffuse horizontal irradiance. By end-user industry, it is segmented into transportation, aviation, energy and utilities, agriculture, media, manufacturing retail, and others. Country wise, the market is analyzed across China, Japan, India, South Korea, Vietnam, Taiwan, Thailand, Australia, Malaysia, Philippines, Singapore, Cambodia, Indonesia, Hong-Kong, and rest of Asia-Pacific.

Access the full summary at: https://www.alliedmarketresearch.com/asia-pacific-short-term-solar-radiation-forecasting-services-market-A31781

Based on application, the energy and utilities segment were the largest in 2021, accounting for nearly one-third of the Asia-Pacific short-term solar radiation forecasting services market share. However, the transportation segment is set to dominate the global market share over the forecast period and is set to witness the fastest CAGR of 25.0% during the forecast period.

Based on type, the horizontal Irradiance (GHI) segment held the largest share of nearly three-fifths of the Asia-Pacific short-term solar radiation forecasting services market share in 2021 and would rule the roost through 2031. However, the direct normal irradiance segment is estimated to witness the fastest CAGR of 21.0 % during the forecast period. The report also discusses the diffuse horizontal irradiance segment.

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Country-wise, the India market is expected to grow at a significant rate in the future on account of growing focus to reduce intensity of emissions, increasing renewable energy generation capacity, and the blooming transportation industry. Further, growth in investments & deployment of smart grid and micro-grid infrastructure in this country is boosting the growth of the market in the country. For instance, the government of India planned to invest for smart grid infrastructure and cumulative spending is forecasted at USD 21.6 billion over the period of 2015-2025.

Leading players of the Asia-Pacific short-term solar radiation forecasting services market analyzed in the research include Solargis, Alea Business Software S.L., Clean Power Research, LLC, Solcast, AccuWeather, Inc., BKC WeatherSys Pvt. Ltd., Japan Weather Association (JWA), National Remote Sensing Centre, Korea Space Weather Research Center, and Japan Meteorological Corporation.

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Covid-19 Scenario:

● The outbreak of the COVID-19 pandemic had a severe impact on the Asia-Pacific short-term solar radiation forecasting services market in the fiscal year 2021. Significant decline in renewable energy demand in wake of the pandemic and reduction in government subsidies.

● The onset of pandemic had adverse impact on demand for energy and there was rise in energy prices during the pandemic.

Buy Complete Report (233 Pages PDF with Insights, Charts, Tables, and Figures) at:
https://www.alliedmarketresearch.com/asia-pacific-short-term-solar-radiation-forecasting-services-market/purchase-options

Thanks for reading this article you can also get individual chapter-wise sections or region-wise report versions like North America Europe or Asia.

If you have any special requirements, please let us know and we will offer you the report as per your requirements.

Lastly this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland Oregon. AMR provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients in making strategic business decisions and achieving sustainable growth in their respective market domains.

AMR launched its user-based online library of reports and company profiles Avenue. An e-access library is accessible from any device anywhere and at any time for entrepreneur's stakeholder's researchers and students at universities. With reports on more than 60000 niche markets with data comprising of 600000 pages along with company profiles on more than 12000 firms, Avenue offers access to the entire repository of information through subscriptions. A hassle-free solution to clients' requirements is complemented with analyst support and customization requests.

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