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Global Remote Sensing Services Market 2017-2024
August 22, 2018 | PRNewswireEstimated reading time: 1 minute
Global remote sensing services market is expected to rise with the CAGR of about 15% during the forecast period 2017-2024.
Remote sensing service deals with acquisition of data or information to be used for satellite imagery interpretation and classification, land cover classification, environmental impact assessment mapping, agricultural mapping, etc. Growth in cloud computing is one of the major factor that contributes to the growth of global remote sensing services market during the forecast period. However, requirement of high initial investment and lack of awareness and issues related to interoperability are some of the major factors restraining the growth of global remote sensing services market during the forecast period.
Geographically, global remote sensing services market report has been segmented in North America, Asia Pacific, Europe, and Rest of the World. North America is expected to dominate the market during the forecast period due to rising adoption of remote sensing services in oil & gas, scientific research, agriculture sector, etc. However, Asia Pacific is expected to be the fastest growing region in the remote sensing services market during the forecast period due to high adoption of remote sensing services in applications such as geo hazard mapping, precision farming, etc.
The growth in global remote sensing services market is also influenced by the presence of major players such as Satellite Imaging Corporation (United States), Remote Sensing Solutions (Germany), Terra Remote Sensing (Canada), DigitalGlobe (United States), Antrix Corporation (India), etc. In order to gain competitive advantage, the major players of global remote sensing services market are adopting various strategies such as mergers & acquisitions, product launch, strategic partnership, collaboration, joint ventures, investment, strategic expansion, funding etc. during the forecast period.
The report on global remote sensing services market is segmented on the basis of platform, end users and resolution. Platform is further sub segmented as ground, manned aircraft, satellites and UAVs. Further, end users in global remote sensing services market includes commercial and defense.
Also, types of resolution in remote sensing services are divided as radiometric, spatial, spectral and temporal. Satellite segment is expected to dominate the market during the forecast period due to high demand for earth observation satellites. In addition, the UAV is expected to be the fastest growing segment during the forecast period owing to its large demand for real time assessment, large scale mapping and monitoring activities, etc.
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