According to our latest market study on “Remote Sensing Services Market to 2027 – COVID-19 Impact, and Global Analysis and Forecast – by Resolution (Spectral, Spatial, Radiometric, and Temporal), Platform Type (Aircraft, UAV, Satellite, and Ground), and End User (Commercial and Defense) and Geography,” the market was valued at US$ 13,025.5 million in 2019 and is projected to reach US$ 37,650.7 million by 2027; it is expected to grow at a CAGR of 14.8% from 2020 to 2027.
Remote sensing services enable the identification of processes, events, and objects at a distance by means of electromagnetic radiation that the concerned objects emit or reflect. Remote sensing permits covering or large territories in a repetitive manner and acquire data that is more valuable than what is visible to traditional aerial photography. Remote sensing uses satellite/airborne based sensors to gather information related to an area or object. Aerial photography, hyperspectral imaging, multispectral imaging, oblique aerial & ground visible band & thermographic imaging, long-wave infrared, near-infrared surveys are some of the techniques used by remote sensing to collect information for different application ranging from urban city mapping, forest & agriculture, weather, to military & defense.
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Antrix Corporation Limited, CyberSWIFT Infotech Pvt. Ltd, and Mallon Technology are some of the key market players operating in the global remote sensing services market. The listing of key players is derived by considering multiple factors such as overall revenue, current remote sensing services solution portfolio, geographical reach, new product launches, market initiatives, investment in technology upgradation, partnerships, and other market related activities.
In addition to these players, there are several other important players operating in the remote sensing services ecosystems which were studies analyzed during the course of this market research study, such as, Geo Sense Sdn. Bhd, Satellite Imaging Corporation, Terra Remote Sensing Inc, The Airborne Sensing Corporation, The Sanborn Map Company, Inc, SpecTIR and EKOFASTBA S.L. among others. Further, in 2019, NorthStar Earth & Space Inc.
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APAC is estimated to grow at the highest CAGR of 17.5% in the global track geometry measurement system market, followed by Europe and North America. To track the changing percentage of land usage for agriculture, the need to collect data on the same is important that will fuel the penetration of remote sensing in Asia. Moreover, the European agriculture sector holds significant potential for the utilization of remote sensing technologies, especially for smart farming.
The remote sensing services market players are mainly focusing on expanding their geographic presence, winning new contracts, and product and service enhancements. For instance, in 2020, Mallon Technology won the Best Service Category award of the GO Awards Northern Ireland 2020; the award marks the excellence of customer service provided by the company.
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