The remote sensing services market is estimated to be USD 10.68 billion in 2017 and is projected to reach USD 21.62 billion by 2022, at a CAGR of 15.14% during the forecast period
LONDON, Nov. 6, 2017 /PRNewswire/ -- "The increasing demand for remote sensing services in commercial and defense applications is expected to drive the growth of the remote sensing services market"
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The remote sensing services market is estimated to be USD 10.68 billion in 2017 and is projected to reach USD 21.62 billion by 2022, at a CAGR of 15.14% during the forecast period. Key factors such as the increased demand for remote sensing services in commercial and defense applications and the introduction of Big Data analytics in remote sensing are expected to drive the growth of the remote sensing services market. However, factors such as huge initial investments and interoperability issues act as restraints to the growth of the remote sensing services market.
"Based on platform, the satellites segment is anticipated to lead the remote sensing services market during the forecast period"
Based on platform, the satellites segment is anticipated to lead the remote sensing services market during the forecast period. Satellite imagery data are used for various applications such as earth observation & meteorology, scientific research & exploration, mapping & navigation, and surveillance & security. The growth of satellite-based remote sensing services is mainly driven by private sector investments in satellite imagery.
"Based on end user, the commercial segment is anticipated to lead the remote sensing services market during the forecast period"
Based on end user, the commercial segment is projected to lead the remote sensing services market from 2017 to 2022. Remote sensing data collection and analytics services are increasingly utilized in various sectors, such as agriculture, energy & power, and weather forecasting, as these services help acquire access to qualitative real-time data for monitoring purposes. Thus, the high demand for remote sensing services in commercial applications is anticipated to drive the growth of the commercial segment.
"North America is estimated to account for the largest share of the remote sensing services market in 2017"
Among all regions, North America is estimated to lead the remote sensing services market in 2017. Key market players based in this region offer specialized remote sensing services for defense and commercial industries. These companies offer a wide range of remote sensing and surveying services that include hyperspectral imaging, LiDAR, and digital and thermal imaging. Thus, the presence of key players offering remote sensing services in North America is one of the most significant factors driving the growth of the remote sensing services market in this region.
Break-up of profiles of primary participants in this report:
• By Company Type: Tier 1 – 55%, Tier 2 – 20%, and Tier 3 – 25%
• By Designation: C-Level – 35%, D-Level – 25%, and Others – 40%
• By Region: North America - 45%, Europe – 20%, Asia Pacific – 30%, and RoW – 5%
Key players profiled in the remote sensing services market report 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.
Research Coverage
This research study segments the remote sensing services market on the basis of platform, end user, and resolution, as well as maps these segments and subsegments across major regions, namely, North America, Europe, Asia Pacific, and RoW. Based on platform, the remote sensing services market has been segmented into satellites, UAVs, manned aircraft, and ground. Based on end user, the remote sensing services market has been segmented into defense and commercial. Based on resolution, the remote sensing services market has been segmented into spatial, spectral, radiometric, and temporal. The report provides 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 micromarkets with respect to individual growth trends, future prospects, and their contribution to the remote sensing services market.
Reasons to buy this report:
From an insight perspective, this research report focuses on various levels of analyses — industry analysis (industry trends), market share analysis of top players, supply chain analysis, and company profiles, which together comprise and discuss basic views on competitive landscape, emerging and high-growth segments of the remote sensing services market, high-growth regions, and market drivers, restraints, and opportunities.
The report provides insights on the following pointers:
• Market Penetration: Comprehensive information on remote sensing services offered by key players in the market
• Service Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new service launches in the remote sensing services market
• Market Development: Comprehensive information about lucrative markets – the report analyzes the market for remote sensing services across various regions
• Market Diversification: Exhaustive information about new services, untapped geographies, recent developments, and investments in the remote sensing services market
• Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of leading players in the remote sensing services market
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