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.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Industry Definition and Application:
Remote sensing software refers to an application used for examining and processing data sensed from a distance to withdraw geographic information through satellite sensor intelligence and airborne sensor data. It is widely utilized in natural hazard study, resource exploration, environment study, land-use mapping and weather forecasting. This software functions by collecting data over vast spatial areas and monitoring the persistent changes occurring in that particular space to ease the process of decision making.
Global Remote Sensing Software Market Trends and Drivers:
One of the key factors driving the market is the extensive adoption of remote sensing software to interpret instant data and forecast natural hazards, in industries such as, defense, military and healthcare. In confluence with this, the increasing need for remote sensing geographic imaging and global positioning system (GPS) satellites for working on excessive geospatial data is catalyzing the market growth. Additionally, the launch of web-based management applications for solving various constraints related to the installation of image processing software packages and geographic information systems (GIs) is escalating the product demand. Besides, the rising application of remote sensing software in the agricultural sector to help farmers with data related to crop health, quality and climatic variables is inducing the market growth. Furthermore, the significant investments and fundings in intelligent surveillance and reconnaissance (ISR) play loads and satellite communication, along with advanced remote sensing technology offered by manufacturers and the extensive research and development (R&D) activities creating a positive market outlook.
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|Remote Sensing Software Market Report Scope|
|Market size value in 2021||US$ 1.46 Billion|
|Market forecast in 2027||US$ 2.92 Billion|
|Growth Rate||CAGR of 11.80% from 2022 to 2027|
|Base year for estimation||2021|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Segments covered||Component, Deployment Mode, Application, End User and Region|
|Regional scope||North America, Europe, Asia-Pacific, Latin America, Middle East and Africa|
|Key companies profiled||BAE Systems plc, EOS Data Analytics Inc., Esri, Hexagon AB, L3Harris Technologies Inc., Merrick & Company, PCI Geomatics, Textron Systems (Textron Inc.) and Trimble Inc.|
|Market Dynamics||Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,|
|Customization preview||If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.|
The report has been segmented the market into following categories:
Breakup by Component:
Breakup by Deployment Mode:
Breakup by Application:
Breakup by End User:
- North America
- United States
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
List of Major Key Players:
The major players in the market are BAE Systems plc, EOS Data Analytics Inc., Esri, Hexagon AB, L3Harris Technologies Inc., Merrick & Company, PCI Geomatics, Textron Systems (Textron Inc.) and Trimble Inc.
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