The remote sensing technology global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Remote Sensing Technology Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The remote sensing technology market size has grown strongly in recent years. It will grow from $16.09 billion in 2023 to $17.54 billion in 2024 at a compound annual growth rate (CAGR) of 9.0%. The growth in the historic period can be attributed to environmental monitoring and climate studies, precision agriculture, natural resource management, urban planning and infrastructure development, disaster management and response..
The remote sensing technology market size is expected to see rapid growth in the next few years. It will grow to $26.16 billion in 2028 at a compound annual growth rate (CAGR) of 10.5%. The growth in the forecast period can be attributed to increasing demand for earth observation data, rapid expansion of satellite constellations, emergence of new remote sensing platforms, increasing accessibility for small and medium-sized enterprises (smes), regulatory support and standards development.. Major trends in the forecast period include development of hyperspectral imaging, rapid growth in unmanned aerial vehicles (uavs) or drones, improved spectral and spatial resolution, focus on privacy and ethical use, expansion into new industry verticals..
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Scope Of Remote Sensing Technology Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Market Drivers –
The growing adoption of precision farming technology is driving the growth of the remote sensing technology market. Due to rapid global population growth and climate change, the farming industry is undergoing massive transformations, placing an added burden on the food supply chain. Precision farming is the planning of food production through the use of technologies delivering the economic benefits of cost reduction in farming and increasing production levels and also helps in environmental benefits. For instance, in August 2020, according to a report published by McKinsey Global Institute, By 2030, approximately 70 million farmers could benefit from digital agriculture services through precision farming. This will be 1.5 times as productive as traditional large farms and 2 to 2.5 times as effective as small farms. Thus, the growing adoption of precision farming technology is driving the remote sensing technology market growth.
Market Trends –
Product innovations have emerged as the key trend gaining popularity in the 5G chipset market. The major players in the market are developing innovative products for market growth. For instance, in June 2021, Samsung Electronics, a South Korea-based electronics company, developed 3GPP Rel.16 compliant chipsets, a range of next-generation 5G chipsets that deliver cutting-edge 5G technologies. The new chipsets consist of a second-generation 5G modem System-on-Chip (SoC), a third-generation mmWave Radio Frequency Integrated Circuit (RFIC) chip, and a Digital Front End (DFE)-RFIC integrated chip. These are designed to increase power efficiency, boost performance, and reduce the size of 5G solutions.
The remote sensing technology market covered in this report is segmented –
1) By Technology: Active Remote Sensing, Passive Remote Sensing
2) By Platform: Satellite, Aerial Systems
3) By Application: Landscape Assessment, Security, Air Quality, Hydrology, Forestry, Floodplain Mapping And Emergency Management, Healthcare
4) By End User: Military And Intelligence, Weather, Disaster Management, Agriculture And Living Resources, Infrastructure
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Regional Insights –
North America was the largest region in the remote sensing technology market in 2023. The regions covered in the remote sensing technology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Key Companies –
Major companies operating in the remote sensing technology market report are Thales Group, DigitalGlobe Inc., Environmental Systems Research Institute Inc., General Dynamics Mission Systems Inc., Hexagon AB, Maxar Technologies, Planet Labs PBC, L3 Harris Technologies Inc., Airbus SE, Trimble Inc., Neteera Technologies, Centre for Process Innovation Limited, Orbital Insight Inc, Cognitive Space Inc., Alio Medical Inc., Empatica Inc., Sensera Systems Inc, Michigan Tech Research Institute, LongPath Technologies, Chloris Geospatial, Resonon Inc., Muon Space Inc., Array Labs Ic., Satyukt Analytics Pvt Ltd., Spanish Maritime Safety & Rescue Agency, Lockheed Martin Corporation, Raytheon Technologies Corporation, Teledyne Technologies Incorporated, Leidos Inc., Conduent Inc.
Table of Contents
1. Executive Summary
2. Remote Sensing Technology Market Report Structure
3. Remote Sensing Technology Market Trends And Strategies
4. Remote Sensing Technology Market – Macro Economic Scenario
5. Global Remote Sensing Technology Market Size and Growth
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31. Global Remote Sensing Technology Market Competitive Benchmarking
32. Global Remote Sensing Technology Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Remote Sensing Technology Market
34. Remote Sensing Technology Market Future Outlook and Potential Analysis
35. Appendix
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