Press release
Global Remote Sensing Services Market to Reach $60.93 Billion by 2029, Growing at 17% CAGR
Remote Sensing Services Market Size
The upward trend in the cloud computing market is anticipated to fuel the expansion of the remote sensing services market. Cloud computing is defined as a range of computational services encompassing elements such as storage servers, databases, networking facilities, software, analytics, and intelligence. It not only encourages faster innovation and flexible resources but also provides economies of scale. These cloud services facilitate the transfer of technology in remote sensing via improved application sharing and help to link remote sensing scientists directly with their end-users. As per Google LLC, a USA-based technological firm, in January 2023, there was a 56% increase in public cloud use from 2021, with 76% of individuals utilizing it in 2022. Additionally, Findstack, a business software company from the UK, stated that in 2021, 81% of all businesses reported the use or planning of a multi-cloud strategy. Hence, the rise in cloud computing is set to catalyze the expansion of the remote sensing services market.
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What is the future CAGR of the remote sensing services market, and how will it impact industry expansion?
There has been a swift expansion in the market size of remote sensing services in the past years. It is estimated to rise from $28.45 billion in 2024 to $32.61 billion in 2025, witnessing a compound annual growth rate (CAGR) of 14.6%. Factors such as higher government funding, environmental surveillance and climate research, the embracing of precision farming, development of infrastructure projects, and management of natural resources have contributed to the growth during the historical phase.
Predictions indicate a swift expansion in the market size of remote sensing services in the upcoming years. The market is anticipated to swell to $60.93 billion by 2029, with a compound annual growth rate (CAGR) of 16.9%. Factors contributing to this growth during the forecast period include monitoring global climate change, agriculture health checks, high-resolution hyperspectral imagery, crisis management, humanitarian assistance, and renewable energy site evaluations. The period is also expected to see a surge in trends like hyperspectral and multispectral imaging, maritime surveillance and monitoring, remote sensing data commercialization, and concentration on environmental sustainability.
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What are the most significant trends transforming the remote sensing services market today?
Progress in technology is a leading trend gaining traction in the market for remote sensing services. Key businesses in the market for remote sensing services are concentrating their efforts on the creation of innovative technological solutions to solidify their market standing. For example, Thales Alenia Space, an aerospace manufacturer based in France, debuted COSMOS-SkyMed in February 2022. This advanced imaging radar for remote sensing satellites was developed for the Italian Space Agency. It uses the unique capabilities of SAR (synthetic aperture radar) sensors and is capable of offering agricultural mapping, disaster monitoring and environmental observations continuously, irrespective of the weather conditions. It also comes with a unique zooming feature that allows for the investigation of targets smaller than a yard.
Which key market segments comprise the remote sensing services market and drive its revenue growth?
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
Subsegments:
1) By Aerial Photography And Remote Sensing: Aerial Photography, Satellite Imagery, Unmanned Aerial Vehicles (UAVs) Or Drones
2) By Data Acquisition And Analytics: Data Collection, Data Processing, Data Analysis And Interpretation, Geographic Information Systems (GIS) Services
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What regions are at the forefront of remote sensing services market expansion?
North America was the largest region in the remote sensing services market in 2024. The regions covered in the remote sensing services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the leading players fueling growth in the remote sensing services market?
Major companies operating in the remote sensing services market 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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What Is Covered In The Remote Sensing Services Global Market Report?
• Market Size Forecast: Examine the remote sensing services market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the remote sensing services market for a structured understanding.
• Key Players Overview: Analyze major players in the remote sensing services market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the remote sensing services market.
• Segment Contributions: Evaluate how different segments drive overall growth in the remote sensing services market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the remote sensing services market.
• Industry Challenges: Identify potential risks and obstacles affecting the remote sensing services market.
• Competitive Landscape: Review strategic developments in the remote sensing services market, including expansions, agreements, and new product launches.
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