The latest research study “Remote Sensing Software Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global remote sensing software market reached a value of US$ 1.46 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 2.92 Billion by 2027, exhibiting a CAGR of 11.80% during 2022-2027.
Remote sensing software is an application that monitors and detects the physical features of an area by measuring the reflected and emitted electromagnetic (EM) radiation from atmospheric, terrestrial, and aquatic ecosystems of the planet without any physical contact. It remotely senses data to acquire spatial information through satellite sensor intelligence and airborne sensor data. It also collects information on geographic areas and tracks the changes in that region to enhance the decision-making process. As a result, remote sensing software finds widespread adoption in resource exploration, weather forecasting, land-use mapping, and environment and natural hazard study.
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Remote Sensing Software Market Trends:
The market is primarily driven by the increasing environmental awareness and the rising number of earth observation projects initiated by various space agencies. In addition, the rising adoption of remote-sensing software in several industrial verticals, including commercial, healthcare, military, and defense, that instantly interpret data and forecast natural hazards is contributing to market growth. Apart from this, the sudden coronavirus disease (COVID-19) outbreak has escalated the demand for remote sensing technology to monitor and curb the spread of viruses and record environmental changes.
Moreover, the surging requirement for remote sensing, geographic imaging, and global positioning systems (GPS) satellite to process excessive geospatial data represents another major growth-inducing factor. Besides this, the increasing utilization of the Internet of Things (IoT) in the agricultural sector to manage drones, remote sensors, and computer imaging to monitor crops and offers data related to crop health, and quality for effective farm management, is propelling the market growth. Furthermore, the growing investments and funding in intelligent surveillance, reconnaissance (ISR) payloads and research and development (R&D) activities are creating a positive market outlook across the globe.
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Remote Sensing Software Market 2022-2027 Competitive Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Major Players Covered:
- BAE Systems plc
- EOS Data Analytics Inc.
- Esri
- Hexagon AB
- L3Harris Technologies Inc.
- Merrick & Company
- PCI Geomatics
- Textron Systems (Textron Inc.)
- Trimble Inc.
Key Market Segmentation:
The report has segmented the market on the basis of component, deployment mode, application, end user and region.
Breakup by Component:
- Software
- Services
Breakup by Deployment Mode:
- On-premises
- Cloud-based
Breakup by Application:
- Ground
- Satellite
- Airborne
Breakup by End User:
- Defense
- Commercial
Breakup by Geography:
- North America
- Asia Pacific
- Europe
- Latin America
- Middle East and Africa
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
About IMARC Group:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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