Remote Sensing Technology Market - Global Industry Analysis

Remote Sensing Technology Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020-2026

Category: Technology & Media Report Format : PDF Report Code: ZMR-6067 Status : Upcoming

Description

Global Remote Sensing Technology Market: Overview

The remote sensing technology market refers to the attributes of an object that can be identified and analyzed without having any direct connection with the object. This is one of the very first technologies which utilize the light in the infrared portion of an electromagnetic spectrum.

Report Scope:

Report Attribute Details
Base Year 2020
Historic Years 2016 - 2020
Forecast Years 2021 - 2028
Segments Covered By Product Type, By Application, and By End Use
Forecast Units Value (USD Billion), and Volume (Units)
Quantitative Units Revenue in USD million/billion and CAGR from 2021 to 2028
Regions Covered North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World
Countries Covered U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Number of Companies Covered 10 companies with scope for including additional 15 companies upon request
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
Customization Scope Avail customized purchase options to meet your exact research needs.

The technology has its application in water quality, landscape assessment, mineral exploration, geology, and others. Remote sensing technology is also utilized for collecting the relevant information associated with the surface of the earth as well as to analyze the physical characteristics. The technology makes use of the reflected and emitted light from various satellites and aircraft without requiring any physical contact with the surface area under study.

Global Remote Sensing Technology Market: Growth Drivers

Increasing government initiatives in smart city projects are boosting the growth of the global remote sensing technology market. The rising adoption in research and exploration applications is anticipated to drive the global market. The development of infrastructure and huge investments in smart city projects by various countries is expected to propel the growth of the global market. The technology helps the authorities in infrastructure modeling, urban planning & zoning, as well as law enforcement & security planning.

The rising adoption of IoT (Internet of Things) technology in the agricultural sector is expected to accelerate the global remote sensing technology market throughout the forecast period. IoT technology in the agricultural sector makes use of robots, drones, computer imaging, and remote sensors for monitoring the crops as well as providing relevant data to the farmers for effective management of the farms. IoT remote sensing technology employs various sensors to be placed on farms and relevant data is transmitted for the purpose of analysis. The farmers can then monitor the crops from an analytical dashboard and act accordingly to the provided insights.

Convenient active sensors and their capacity to collect measurements 24/7, increasing use of remote sensing data in a large diversity of business applications & defense, rising advancement in the remote sensing technology, and the increasing use of GIS applications in environmental risk management are few factors projected to drive the growth of the global remote sensing technology market.

Global Remote Sensing Technology Market: Segmentation

The global remote sensing technology market has been categorized into various market segments including product type, technology, application, and region. Based on technology, the market can be segregated into active remote sensing and passive remote sensing.

On the basis of product type, the global remote sensing technology market can be segmented into mechanical data collectors, wireless data collectors, electronic data collectors, and others. Based on application, the global remote sensing technology market is bifurcated into electronics, communication, logistics, agriculture, oceanography, healthcare, water quality, air quality, geology & mineral exploration, landscape assessment, and others comprising floodplain mapping and emergency management. The emergency management application is likely to exhibit a considerable CAGR through 2026, owing to the growing government focus toward the management of unforeseen accidents and natural disasters.

Global Remote Sensing Technology Market: Regional Analysis

North America is expected to surface as a leading regional market in the global remote sensing technology market over the forecast period owing to the escalating adoption of remote sensing technology particularly in farming applications. This technology contributes to water resource management tools to meet the crops irrigation requirements and prevent the impact of dry spells as well.

Asia Pacific is expected to increase at a notable rate over the forecast period. Emerging economies such as India, Japan, China, and South Korea are expected to be the major markets for remote sensing technology, owing to the presence of multiple providers in the region. Various government initiatives for the development of the urban infrastructure such as the Smart City Mission of India are anticipated to fuel the technology market growth.

Global Remote Sensing Technology Market: Competitive Players

The key players of the global remote sensing technology market are Geosys, General Dynamics Corp., ITT Corp., Lockheed Martin Corp., Honeywell Technology Solutions Inc., Leica Geosystems Holdings AG, LumaSense Technologies Inc., Raytheon Corp., Northrop Grumman Corp., Thales Group, Hexagon AB, Farmers Edge Inc., Descartes Labs Inc., Orbital Insight, Astro Digital US, TerrAvion Inc., Parrot Drones SAS., Planet Labs Inc., Ceres Imaging Inc., Esri, DigitalGlobe, General Dynamics Missions Systems Inc., and SlantRange Inc. from others. Several major market players are opting for the inorganic strategies including mergers and acquisitions to enhance their share in the market.

Global Remote Sensing Technology Market: Regional Segment Analysis

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

What Reports Provides

  • Full in-depth analysis of the parent market
  • Important changes in market dynamics
  • Segmentation details of the market
  • Former, on-going, and projected market analysis in terms of volume and value
  • Assessment of niche industry developments
  • Market share analysis
  • Key strategies of major players
  • Emerging segments and regional markets
  • Testimonials to companies in order to fortify their foothold in the market.

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FrequentlyAsked Questions

Increasing government initiatives in smart city projects are boosting the growth of the global remote sensing technology market. The rising adoption in research and exploration applications is anticipated to drive the global remote sensing technology market. The development of infrastructure and huge investments in smart city projects by various countries is expected to propel the growth of the global remote sensing technology market. Rising adoption of IoT (Internet of Things) technology in the agricultural sector is expected to accelerate the global remote sensing technology market throughout the forecast period.

The key players of the global remote sensing technology market are Geosys, General Dynamics Corp., ITT Corp., Lockheed Martin Corp., Honeywell Technology Solutions Inc., Leica Geosystems Holdings AG, LumaSense Technologies Inc., Raytheon Corp., Northrop Grumman Corp., Thales Group, Hexagon AB, Farmers Edge Inc., Descartes Labs Inc., Orbital Insight, Astro Digital US, TerrAvion Inc., Parrot Drones SAS., Planet Labs Inc., Ceres Imaging Inc., Esri, DigitalGlobe, General Dynamics Missions Systems Inc., and SlantRange Inc. from others.

North America is expected to surface as a leading regional market in the global remote sensing technology market over the forecast period owing to the escalating adoption of remote sensing technology particularly in farming applications. This technology contributes to water resource management tools to meet the crops irrigation requirements and prevent the impact of dry spells as well.

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