Remote Sensing services market will worth $21.62 billion by 2022: Report

Remote Sensing services market will worth $21.62 billion by 2022: Report

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A new Markets&Markets report forecasts the global remote sensing market to reach $21.62 billion by 2022.

US: Market research firm, MarketsandMarkets has added a new Remote Sensing Services Market report at its disposal. The report estimates the market to reach $21.62 billion by 2022, growing at a CAGR of 15.14% during the forecast period.

The increasing use of remote sensing services in defense and commercial applications is one of the most significant factors driving the growth of the remote sensing services market. Furthermore, the introduction of Big Data analytics in remote sensing and growth of the cloud computing market are anticipated to fuel the demand for remote sensing services.

http://www.marketsandmarkets.com/Market-Reports/remote-sensing-services-market-87605355.html

Early buyers will receive 10% customization on this report. Based on platform, the satellites segment is expected to lead the remote sensing services market during the forecast period, owing to the increased demand for Earth observation satellites. These satellites are intended for monitoring of the Earth’s surface to obtain valuable information for mapping, mineral exploration, land-use planning, resource management, and other activities.

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The UAVs segment of the remote sensing services market is anticipated to grow at the highest CAGR during the forecast period

Based on platform, the UAVs segment of the remote sensing services market is expected 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, geo-hazard mapping, and mineral exploration.

North America is projected to account for the largest share of the remote sensing services market in 2017

North America is estimated to lead the remote sensing services market in 2017. Increasing demand for remote sensing services in various sectors, such as oil & gas, mineral exploration, agriculture, energy & power, earth observation, search & rescue, weather forecasting, scientific research, forest industry, and oceanography is anticipated to drive the growth of the remote sensing services market in North America. In addition, remote sensing services facilitate the collection of multi-source imagery data used in Geographic Information Systems (GIS) as well as for damage assessment and environmental monitoring, which, in turn, is anticipated to contribute to the growth of the remote sensing services market in this region.

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Antrix Corporation (India), DigitalGlobe (US), EKOFASTBA (Spain), Geo Sense (Malaysia), Mallon Technology (UK), Remote Sensing Solutions (Germany), SpecTIR (US), Satellite Imaging Corporation (US), Terra Remote Sensing (Canada), The Airborne Sensing Corporation (Canada), and The Sanborn Map Company (US) are leading players in the remote sensing services market.

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