Press release
Remote Sensing Services Global Market 2024 - Latest Trends, Technological Advancement, Driving Factors And Forecast To 2033
Remote Sensing Services Market
Remote Sensing Services Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $51.91 billion In 2028 At A CAGR Of 16.0% :
The remote sensing services market size has grown rapidly in recent years. It will grow from $24.97 billion in 2023 to $28.7 billion in 2024 at a compound annual growth rate (CAGR) of 15.0%. The growth in the historic period can be attributed to increased government investments, environmental monitoring and climate studies, precision agriculture adoption, infrastructure development projects, natural resource management.
The remote sensing services market size is expected to see rapid growth in the next few years. It will grow to $51.91 billion in 2028 at a compound annual growth rate (CAGR) of 16.0%. The growth in the forecast period can be attributed to global climate change monitoring, health monitoring in agriculture, high-resolution hyperspectral imaging, crisis management and humanitarian aid, renewable energy site assessment. Major trends in the forecast period include rise of hyperspectral and multispectral imaging, maritime surveillance and monitoring, commercialization of remote sensing data, focus on environmental sustainability.
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Remote Sensing Services Market Major Segments
The remote sensing services market covered in this report is segmented -
1) By Type: Aerial Photography and Remote Sensing, Data Acquisition and Analytics
2) By Platform: Defense, Media and Entertainment, Homeland Security Agencies, Agriculture, Energy and Power, Scientific Research, Weather Forecasting, Other Platforms
3) By Resolution Segments: Spatial, Spectral, Temporal, Radiometric
Key Driver - Cloud Computing Expansion Drives Growth In Remote Sensing Services Market
The growth in the cloud computing market is expected to propel the growth of the remote sensing services market going forward. Cloud computing refers to the very of computing services which include servers such as storage, databases, networking, software, analytics, and intelligence. These services help to offer faster innovation, flexible resources, and economies of scale. Cloud services help to accelerate technology transfer in remote sensing through improved application sharing. Also, it helps to connect remote sensing scientists more directly with the end-users. For instance, in January 2023, according to Google LLC, a US-based technology company, 76% of people used the public cloud in 2022, an increase of 56% from 2021. Also, according to Findstack, a UK-based business software company, in the year 2021, 81% of all enterprises have reported that they are using a multi-cloud strategy laid out or in the works. Therefore, the growth in cloud computing will propel the growth of the remote sensing services market.
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Prominent Trend - SAR (Synthetic Aperture Radar) Sensors For Advanced Remote Sensing
Technological advancements are a key trend gaining popularity in the remote sensing services market. Major companies operating in the remote sensing services market are focused on developing new technological solutions to strengthen their position in the market. For instance, in February 2022, Thales Alenia Space, a France-based aerospace manufacturer, launched COSMOS-SkyMed, an advanced imaging radar remote sensing satellites for the Italian Space Agency that works on a unique feature of SAR (synthetic aperture radar) sensors. It is capable of providing agriculture mapping, disaster monitoring, and environmental observations around the clock in normal or adverse environmental conditions and also offers a zooming feature for specific targets zoom smaller than a yard.
Remote Sensing Services Market Players
Major companies operating in the remote sensing services market report are Antrix Corporation Limited, CyberSWIFT Infotech Pvt. Ltd., DigitalGlobe Inc., Ekofastba SL, Geo Sense Sdn. Bhd., Lockheed Martin Corporation, Mallon Technology Ltd., Remote Sensing Solutions GmbH, Satellite Imaging Corporation, Spectir LLC, Terra Remote Sensing Inc., The Airborne Sensing Corporation, The Sanborn Map Company, Ball Corporation, General Dynamics Mission Systems Inc., Hexagon AB, Space Exploration Technologies Corporation, Stantec Inc., The Boeing Company, Airbus Defence and Space Ltd., BlackSky Global LLC, Blue Marble Geographics Inc., Earth-I Ltd., Ecometrica Ltd., EOMAP GmbH & Co.KG, Environmental Systems Research Institute Inc., European Space Imaging GmbH, GeoOptics Inc., Geosys Enterprise Solutions Private Limited, L3Harris Geospatial Solutions Inc., ICEYE Ltd., ImageSat International Ltd., Intermap Technologies Corp.
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Largest And Fastest Growing Region In The Market
North America was the largest region in the remote sensing services market in 2023. The regions covered in the remote sensing services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Remote Sensing Services Market Report Structure
3. Remote Sensing Services Market Trends And Strategies
4. Remote Sensing Services Market - Macro Economic Scenario
5. Remote Sensing Services Market Size And Growth
…..
27. Remote Sensing Services Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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