Global Remote Sensing Technology Market By Application (Landscape Assessment, Air Quality, Water Quality, Floodplain Mapping and Emergency Management, Healthcare, Geology and Mineral Exploration, Oceanography, Agriculture, Others), Technology (Active Remote Sensing, Passive Remote Sensing), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) - Industry Trends and Forecast to 2026
Market Analysis: Global Remote Sensing Technology Market
Global remote sensing technology market is expected to register a healthy CAGR of 10.9% in the forecast period of 2019-2026. The report contains data from the base year of 2018 and the historic year of 2017. The rise in the market value can be attributed to integrated advancements in remote sensing technology.
Market Definition: Global Remote Sensing Technology Market
Remote sensing is the practice of several technologies for making measurements and observations to a target which is usually at a scale or distance beyond those observable to the naked eye. It is being used in fields including geography, land surveying among other earth sciences as well as in the internet of things (IoT). In dangerous or inhospitable areas remote sensing is useful for collecting of data such as evaluating the changes in the size of glaciers in the Arctic. It is one of the primary technologies for internet of things (IoT) that consist of radar, LiDAR, infrared radiation (IR), seismic, thermal, electric field sensing, sonar and GPS.
- Growing advancement in the remote sensing technology will propel the market growth
- Rising use of GIS applications in environmental risk management will drive the growth of the market
- Convenient active sensors including its ability to gather measurements 24/7 is driving the market growth
- Rising use of remote sensing data in a wide variety of defence and business applications will boost the growth of the market
- The prevailing government compliances and regulatory issues is hampering the market growth
- High initial investment incurred in technology which will act as a restraint to growth of the market
- Dearth of awareness and Interoperability concern is restraining the market growth
Segmentation: Global Remote Sensing Technology Market
- Landscape Assessment
- Air Quality
- Water Quality
- Floodplain mapping and Emergency Management
- Geology and Mineral Exploration
- Active Remote Sensing
- Passive Remote Sensing
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East and Africa
Key Developments in the Market
- In July 2019, Artificial intelligence (AI) unicorn Sensetime will set up a research center in United Arab Emirates, with strategy for the hiring of employees to focus on artificial intelligence (AI) in Europe, Middle East and Africa (EMEA). The research center will develop artificial intelligence (AI) for industries such as healthcare, education and remote sensing. The companies major aim is to provide support to governments using artificial intelligence (AI) and the regional industries
- In July 2019, The Swiss Agency for development and Cooperation (SDC) will offer non-refundable aid word 365,000 CHF for the project remote sensing-based information and insurance for crops in the rising economies – third phase (RIICE 3). These technologies will help agricultural agencies to promptly access authentic data to improve rice production efficiency and to enhance the management of natural disaster risks
Global remote sensing technology market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of remote sensing technology market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Major Market Players
Few of the major competitors currently working in global remote sensing technology market are General Dynamics Corporation, Honeywell International Inc., ITT Inc., HEXAGON, Lockheed Martin Corporation., LumaSense Technologies Inc., Northrop Grumman Corporation., Raytheon Company, Thales Group, Descartes Labs,Inc, GEOSYS, Farmers Edge Inc., Orbital Insight, Planet Labs Inc., Astro Digital US, Parrot Drones SAS., TerrAvion Inc., SlantRange, Inc., and Ceres Imaging, Inc. among others.
Research Methodology: Global Remote Sensing Technology Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key market players involved in this industry
- Detailed analysis of the market segmentation
- Competitive analysis of the key players involved