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Remote Sensing Services Market Report 2024-2033 | Size, Insights, Growth Demand, Forecast
Remote Sensing Services Market Report
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According to The Business Research Company's, 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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Market Drivers and Trends:
The rising mining activities are expected to propel the growth of the remote sensing services market going forward. Mining activities is the procedure of removing profitable minerals, ores, or other geological elements from the crust of the earth and to extract rich minerals from the crust of the earth, mining activities are carried out. Remote sensing services are used in mining activities in identifying potential mineral deposits by detecting specific geological features, alterations, and anomalies for the presence of valuable minerals. For instance, in February 2023, according to Glacier Media Group, a Canada-based media company, US mines produced non-fuel mineral products worth around $98.2 billion in 2022, an estimated $3.6 billion more than the 2021 revised total of $94.6 billion. Therefore, rising mining activities are driving the growth of the remote sensing services market.
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.
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• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
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• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
Major Key Players of the Market:
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.
Remote Sensing Services Market 2024 Key Insights:
• 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%.
• Cloud Computing Expansion Drives Growth In Remote Sensing Services Market
• SAR (Synthetic Aperture Radar) Sensors For Advanced Remote Sensing
• North America was the largest region in the remote sensing services market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
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Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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