Remote Sensing Technology Global Market Size, Share, Trends, Industry Forecast 2023-2032

The Business Research Company's global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company's Remote Sensing Technology Global Market Report 2023 identifies the growing adoption of precision farming technology as the major driver for the remote sensing technology market's growth in the forecast period. Due to rapid global population growth and climate change, the farming industry is undergoing massive transformations, placing an added burden on the food supply chain. Precision farming is the planning of food production through the use of technologies delivering the economic benefits of cost reduction in farming and increasing production levels and also helps in environmental benefits.

The global remote sensing technology market size will grow from $15.09 billion in 2022 to $16.57 billion in 2023 at a compound annual growth rate (CAGR) of 9.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the remote sensing technology is expected to grow to $24.47 billion in 2027 at a CAGR of 10.2%.

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Major competitors in the remote sensing technology market are Thales Group, DigitalGlobe, Esri, General Dynamics Mission Systems Inc., Hexagon AB.

A key trend in the remote sensing technology market includes technological advancement. Major companies operating in the remote sensing technology market are focused on providing technologically-advanced solutions to strengthen their market position. These companies are implementing next-generation remote sensing technology into their devices, such as active sensors, LiDAR, InSAR, PSInSAR, SAR, SRT, SqueeSAR, passive sensors, UAV, and others. These technologies obtain information about material objects from distance measurements without coming into physical contact with the objectives. For instance, in March 2022, China launched a new remote sensing satellite into space. This optical remote sensing satellite will be used for the confirmation of land rights, to survey urban planning, disaster reduction and prevention, and crop yield estimation.

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The remote sensing technology market is segmented -
•By Technology: Active Remote Sensing, Passive Remote Sensing
•By Platform: Satellite, Aerial Systems
•By End User: Military And Intelligence, Weather, Disaster Management, Agriculture And Living Resources, Infrastructure
•By Application: Landscape Assessment, Security, Air Quality, Hydrology, Forestry, Floodplain Mapping And Emergency Management, Healthcare
•By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the remote sensing technology market.

The Business Research Company's "Global Remote Sensing Technology Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.

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The Table Of Content For The Remote Sensing Technology Market Include:
1. Executive Summary
2. Remote Sensing Technology Market Characteristics
3. Remote Sensing Technology Market Trends And Strategies
4. Remote Sensing Technology Market - Macro Economic Scenario
5. Remote Sensing Technology Market Size And Growth
……
26. Africa Remote Sensing Technology Market
27. Remote Sensing Technology Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Remote Sensing Technology Market
29. Remote Sensing Technology Market Future Outlook and Potential Analysis
30. Appendix

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