At CAGR 15.2% growing number of Earth observation projects, market size for remote sensing services to USD 64,375 million by 2030 Report from Acumen Research and Consulting

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Acumen Research and Consulting recently published a report titled “Remote Sensing Services Market Size, Share, Analysis Report and Region Forecast, 2022 – 2030”

TOKYO, June 28, 2022 (GLOBE NEWSWIRE) — The Global Remote Sensing Services Market size accounted for $17,997 million in 2021 and is expected to reach a market size of $64,375 million by 2030, growing at a CAGR of 15.2%.
According to our market forecast for remote sensing services, the growing number of Earth observation projects will drive the industry’s global growth. According to statistics from American Scientist, there are currently more than 150 Earth observation satellites in orbit, each with sensors determining different parts of the visible, microwave and infrared regions of the electromagnetic range. Moreover, the growth in the cloud computing industry is one of the prominent trends in the remote sensing services market that increases the value of the sector. Cloud computing offers outstanding benefits such as online, on-demand, scalable image processing functionality, image-derived products and visualization tools to a global user community, rapid adoption and implementation of new algorithms and processing tools, and the ability for processing tools to be co-located effectively with large image databases.

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Reporting coverage:

Market

Remote Sensing Services Market

Market size 2021

USD 17,997 million

Market forecast 2030

USD 64.375 million

CAGR during 2022 – 2030

15.2%

Analysis period

2018 – 2030

Base year

2021

Forecast data

2022 – 2030

Segments covered

By technology, by platform, by resolution, by end use and by geography

Regional reach

North America, Europe, Asia Pacific, Latin America and the Middle East and Africa

Key companies profiled

Antrix Corporation, Digital Globe, EKOFASTBA, General Dynamics Mission Systems, Inc., Geo Sense, Hexagon AB, Lockheed Martin Corporation, Mallon Technology, Remote Sensing Solutions, Stantec and Satellite Imaging Corporation

Reporting coverage

Market Trends, Drivers, Constraints, Competitive Analysis, Player Profiling, Regulatory Analysis

Adjustment Range:

10 hours free customization and expert advice


COVID-19 Impact on the global market value for remote sensing services

Remote sensing and imaging satellites provide comparison images to health officials and other users, which is critical for monitoring the efficiency of “stay at home” and other social distancing guidelines. Earth observation satellites also provide a secure and remote way to collect global data on site without leaving the home or office. As a group, satellites provide essential services to governments, businesses and consumers. The United States Department of Homeland Security (DHS) has identified satellite operations as a critical part of a functioning critical infrastructure that is critical during the COVID-19 emergency response for both public safety and community well-being.

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Widespread adoption in defense applications helps the remote sensing services market grow significantly
Remote sensing technologies provide geographic contextual data to government and defense, empowering them to make more confident decisions. Delivered by key players, these services provide the defense and intelligence chain with the most advanced software technology available to efficiently manage and exploit geographic data from the command center to the tip of the spear. Remote sensing detects anomalies to reveal hidden targets, detects movement and changes over time, visualizes terrain to plan troop activities, and targets spectrally anomalous areas that could indicate potential threats. In this way, the defense sector has benefited from the use of remote sensing services around the world.

The advent of cloud computing, big data analytics and the Internet of Things are supporting the growth of the remote sensing services market
The Internet of Things (IoT) is the result of recent breakthroughs in home automation, smart environments, smart cities and various sensor networks for military and civilian applications. The data generated by remote sensing software and IoT technologies has the potential to provide a wide range of insights that can ensure effective performance, reduce costs and proactively warn of impending problems. Moreover, with the rise of big data analytics, remote sensing data is finding new applications in areas such as urban planning, global climate change and natural hazard monitoring.

Market Segmentation for Remote Sensing Services
The global market is divided into five sections: technology, platform, resolution, end-user and region.
The technology segment is split into active remote sensing and passive remote sensing. Due to technology, passive remote sensing technology had peaked market share for remote sensing services by 2021. According to information from American Scientists, the vast majority of Earth observation satellites are equipped with “passive” sensors that measure either radiated thermal energy or reflected solar radiation from the atmosphere or the Earth’s surface. The latest satellites also use “active” sensors that radiate energy and track the reflected or diffracted response, which can be used to derive information about Earth.

Based on the platform, the market is split into satellites (Earth observation, mapping and navigation, meteorology, telecommunications and others), manned aircraft (coastal analysis, defense and intelligence, disaster management, mineral exploration mapping, pipeline monitoring, precision farming and others ), UAVs (3D terrain model construction, damage assessment, defense and intelligence, geohazard mapping, mineral exploration, pipeline monitoring, precision farming and others), and soil. Among them, satellites acquired the majority of the share due to their increasing demand for critical information for mapping, resource management, mineral exploration and others.

The resolution segment is divided into spectral, spatial, temporal and radiometric. Of these, the spatial resolution technique is popular in defense and commercial applications because it can distinguish between two objects even if they are close to each other.
Furthermore, the end-user segment is divided into defense and commercial. The end-user of defense is further divided into defense organizations and internal security services. Commercial end-users are divided into agriculture, energy and power, media and entertainment, weather forecasting, scientific research and others.

Regional Market Outlook for Remote Sensing Services
North America, Asia-Pacific, Europe, Latin America, the Middle East and Africa account for the majority of the global remote sensing services market. According to our regional analysis, North America currently leads the remote sensing services industry with significant market share and is expected to continue to lead in the future. The rapid growth of the region can be attributed to advances in remote sensing technology in land assessment techniques. In addition, the Asia-Pacific region is expected to grow the fastest in the coming years as a result of improved defense technologies and massive government investment.

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Market Players for Remote Sensing Services
Some major remote sensing service companies operating in the industry include Antrix Corporation, Digital Globe, EKOFASTBA, General Dynamics Mission Systems, Inc., Geo Sense, Hexagon AB, Lockheed Martin Corporation, Mallon Technology, Remote Sensing Solutions, Stantec, and Satellite Imaging Corporation.

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About Astute research and advice
Acumen Research and Consulting is a global provider of market intelligence and advisory services to the information technology, investment, telecommunications, manufacturing and consumer technology markets. ARC helps investment communities, IT professionals and business leaders make fact-based decisions about technology purchases and develop business growth strategies to support competition in the marketplace. With a team size of more than 100 analysts and a collective experience of more than 200 years in the industry, Acumen Research and Consulting ensures a combination of industry knowledge and expertise at a global and national level.

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