Remote Sensing Technology Market Overview
With satellites' proven capability and other remote sensing data collection solutions expanding rapidly, the market is projected to witness significant traction, states Market Research Future (MRFR). The industry report lists the leading competitors and provides the insights strategic industry Analysis of the key factors influencing the market. The Remote Sensing Technology market report provides a detailed analysis of global market size, regional and country-level market size, segmentation market growth, market share, competitive Landscape, sales analysis, impact of domestic and global market players, value chain optimization, trade regulations, recent developments, opportunities analysis & expert review.
The global remote sensing technology market is expected to increase rapidly in the next few years. The rising governmental focus on developing earth observation solutions to extract information from aerial and satellite imaging systems creates a vast demand for remote sensing technology. Also, the growing emphasis on solving end-to-end remote sensing problems, using a science and engineering approach influences market dynamics.
Remote sensing technology has evolved significantly in recent years, offering impressive surveying techniques with many different advantages. This technology can survey large and inaccessible areas, and the data gathered from remote sensing can be used and analyzed in a wide range of applications multiple times.
For example, data collected by remote sensors used to survey a construction site can also be used to analyze and plan new roads. The data collected from forests to identify the risk of natural calamities, such as wildfires, could also be used to monitor biodiversity.
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Some specific uses of remote sensing imagery in the planet/earth monitoring include mapping large forest fires from the space, helping track clouds to predict the weather, and watching erupting volcanoes & dust storms, tracking the city growth & changes in farmland or forests, and discovering & mapping of the rugged topography of the ocean floor.
There are many researches ongoing currently to improve remote sensing functionality. For instance, researchers at the Resilient Infrastructure and Disaster Response (RIDER) Center of the FAMU-FSU College of Engineering are investigating better ways to predict the probable areas where road-clogging debris will be most severe after tropical cyclones. This research is especially relevant as remote sensing research improves hurricane response.
Remote sensing, IoT, and AI/ML have huge applications in agriculture, making the technology agri-specific and easy to use. Advances in new-age technologies like remote sensing, drone surveillance, and artificial intelligence (AI)-driven solutions provide unique agritech platforms to strengthen the digital infrastructure of agribusinesses.
Also, remote sensing allows agri-businesses to monitor, measure, and manage their farms, farmers, and the entire agri value chain, offering a suite of modules including farm management, remote sensing, pest management, ecommerce, etc.
Industry Trends
The remote sensing technology market witnessed a constant uptick over recent years. Industry players are also seen fostering R&D investments to advance these technologies. With the market penetration of commercial remote sensing data services for satellite data customer industries, market sales are estimated to grow constantly, remaining the most common commercial remote sensing imagery.
Commercial remote sensing data services witness augmenting demand from natural resources, surveying & mapping, and marine & environmental protection sectors, as well as emerging applications, such as digital rural development, urban security, smart agriculture, and transport. Further, the rising use of these technologies in healthcare devices would support the market growth throughout the assessment period.
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Remote Sensing Technology Market Key Players
- Raytheon Corporation (US)
- Northrop Grumman Corporation (US)
- General Dynamics Corp. (US)
- Honeywell Technology Solutions Inc. (US)
- ITT Corp. (US)
- Lockheed Martin Corporation (US)
- Lumasense Technologies Inc. (US)
- Leica Geosystems Holdings AG (Switzerland)
- Thales Group (France)
Remote Sensing Technology Market Segmentation
- By Technology
By technology, the passive remote sensing technology segment is predicted to lead the market over the forecast period. Passive remote sensing measures the reflected sunlight from the surface of the earth to monitor and analyze surface characteristics. This technology offers high-quality satellite images and thus is widely used for various earth observation applications.
- By Application
By application, the emergency management application segment will dominate the market over the forecast period for the increasing government focus towards the management of natural disasters and unforeseen accidents.
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Remote Sensing Technology Market Regional Analysis
North America to Rule Remote Sensing Technology Market
North America is predicted to rule the market over the forecast period. Maximum technological advancement, the presence of several key players in the USA, powerful defense forces for the USA US government making huge investments mostly on the military, the rising adoption of remote sensing technology in precision farming applications, and the use of specialized remote sensing services for commercial industries are adding to the global remote sensing technology market growth in the region.
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