(I-BusinessNews.Com, December 01, 2020 ) According to the latest research report the Remote Sensing Services Market was valued at USD 9.70 Billion in 2016 and is projected to reach USD 21.62 Billion by 2022, at a CAGR of 15.14% from 2017 to 2022. The base year considered for the study is 2016 and the forecast period is from 2017 to 2022. The report provides an in-depth market intelligence regarding key market dynamics, such as drivers, restraints, opportunities, and industry-specific challenges, influencing the growth of the remote sensing services market, along with analyzing micro markets with respect to individual growth trends, future prospects, and their contribution to the remote sensing services market.
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Remote Sensing Service Providers
Remote Sensing System Manufacturers
Technology Support Providers
Ministry of Defense
Scientific Research Centers
Software/Hardware/Service and Solution Providers
Based on platform, the satellites segment is projected to lead the remote sensing services market during the forecast period. The growth of the satellites segment can be attributed to the increased demand for Earth observation satellites to obtain valuable information for mapping, mineral exploration, land-use planning, resource management, and other activities. These satellites provide data in spatial, temporal, and spectral resolutions to cater to various application requirements.
Based on platform, the UAVs segment of the remote sensing services market is projected to grow at the highest CAGR from 2017 to 2022. UAVs are considered to be the most preferred remote sensing platform. UAV-based remote sensing services are used for large-scale mapping, real-time assessment, and monitoring activities of various applications, such as precision farming, 3D terrain model construction, damage assessment, geohazard mapping, and mineral exploration.
Based of resolution, the spatial segment is anticipated to lead the remote sensing services market during the forecast period, owing to the increasing demand for high-resolution systems and critical measurements. High spatial resolution images can allow users to differentiate between two objects that are within close proximity to each other, which, in turn, is expected to drive the demand for spatial resolution data in commercial and defense applications.
Key players operating in the remote sensing services market include Antrix Corporation (India), DigitalGlobe (US), EKOFASTBA (Spain), Geo Sense (Malaysia), Mallon Technology (UK), Remote Sensing Solutions (Germany), and Satellite Imaging Corporation (US), among others. Leading players adopted the strategy of contracts to strengthen their position in the market.
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