In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022. Purchasing power in the country is expected to fell nearly by 2.5%.
On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.
November 15, 2021: ClimateAI to join the White House-backed ‘Agriculture Innovation Mission for Climate’. This initiative focuses on transformative climate action in the global agricultural sector.
October 22, 2021: Terrafuse AI launched a free public tool, Wildfire AI that can provide predictive modeling to track the wildfires.
Ans: The growing environment awareness amongst people is estimated to boost the market growth.
Ans: The market is anticipated to attain a notable CAGR over the forecast period, i.e., 2022 – 2031.
Ans: The major players in the market are Alfa Laval AB, Cummins Power Generation Inc., LG Chem Ltd., Compagnie de Saint-Gobain S.A., Gro Intelligence, Inc., NCX Inc., TerraFuse, Inc., Climate AI, and Climavision Operating LLC.
Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
Ans: The market is segmented by enterprise size, end-user, and by region.
Ans: The agriculture segment is anticipated to hold largest market size over the forecast period and display significant growth opportunities.
Ans: Higher investment needed for climate resilient technology is estimated to hamper the market growth.
Ans: The Asia Pacific region is anticipated to provide more business opportunities over the forecast period owing to the growing climate concerns in the region.