Remote Sensing Services Market Insights
The remote sensing services market is expected to grow at a CAGR of approximately 15% from 2017 to 2025. The increasing use of remote sensing services in defense & commercial applications, growth in the cloud computing market, and rising demand in homeland security operations are the most significant factors likely to drive the growth of the remote sensing services. Factors such as interoperability issues and huge initial investments act as restraints to the growth of the remote sensing services market.
Remote Sensing Services Market: Platform Insights
The remote sensing services market based on platform is segregated into satellites, UAVs, manned aircraft and ground. The satellites segment is projected to dominate the remote sensing services market during the forecast period. Earth observation satellites are used widely to obtain important information for mineral exploration, mapping, resource management, land-use planning, and other activities.
The UAVs segment is estimated to be the fastest growing segment during 2017 and 2025. UAVs are the most preferred remote sensing platform. UAV remote sensing services are used for RT assessment, large-scale mapping, precision farming, 3D terrain model construction, geo-hazard mapping, damage assessment, and mineral exploration.
Remote Sensing Services Market: End-user Insights
Based on the end user, the remote sensing services market is segmented into military and commercial users. The commercial segment is projected to lead the remote sensing services market during the period of forecast. Remote sensing data collection and analytics services are increasingly being utilized in various sectors, such as agriculture, energy & power, and weather forecasting. Thus, the rising applications of remote sensing services in the commercial sector are likely to drive the market in the commercial segment
Remote Sensing Services Market: Resolution Insights
Based on the resolution, the spatial segment is expected to lead the remote sensing services market during the forecast period, due to the increasing demand for high-resolution systems and critical measurements. High spatial resolution images allow users to differentiate between two objects within close proximity to each other, which is further expected to drive the demand for spatial resolution data in commercial and defence applications.
Remote Sensing Services Market: Regional Insights
North America is expected to dominate the remote sensing services sector during the period of forecast, owing to the increasing demand for remote sensing services in various sectors, such as energy & power, earth observation, search & rescue, weather forecasting, scientific research, forest industry, oil & gas, mineral exploration, agriculture, and oceanography. The market in the Asia Pacific region is estimated to grow at the highest CAGR from 2018 to 2025, due to the high demand for remote sensing services in various applications.
The end-use landscape entails a list of current and prospective consumers prevailing across the regions. This section provides company addresses, contact details, products, and regional presence of companies who are purchasing or are likely to purchase Remote Sensing Services over the coming years. Some leading consumers of this market are Chevron, Gazprom, and Exxon Mobil among others.
Remote Sensing Services Market: Vendor Landscape
The report contains a chapter dedicated to vendors operating in the market, covering raw material manufactures, equipment developers, manufacturers, and distributors. The report provides these insights on a regional level. This section of the report entails contact details, experience, products manufactured/supplied, and geographical presence of companies.
Remote Sensing Services Market Share & Competitor Analysis
Key players operating in the remote sensing services market include Satellite Imaging Corporation, Spectir,Antrix Corporation, DigitalGlobe, EKOFASTBA, Geo Sense, Mallon Technology, Remote Sensing Solutions, and Satellite Imaging Corporation, among others.
Please note: This is not an exhaustive list of companies profiled in the report.
In 2016, DigitalGlobe and signed an agreement to form a joint venture with TAQNIA and KACST for the development of more than six sub-meter resolution imaging satellites. These satellites are capable of collecting imagery with anticipated 80 cm resolution.
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The global Remote Sensing Services Market has been studied from the year 2016 till 2025. However, the CAGR provided in the report is from the year 2017 to 2025. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the Remote Sensing Services Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the company and customer analytics.