Remote Sensing Technology Market by Technologies (Active Remote Sensing and Passive Remote Sensing), Applications (Agriculture & Living Resources, Military & Intelligence, Disaster Management, Infrastructure, Weather, and Others), Platforms (Satellite and Aerial Systems), and Regions (Asia Pacific, North America, Latin America, Europe and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028
The global remote sensing technology market is projected to expand at a CAGR of 11% during the forecast period, 2021–2028. The growth of the market is attributed to increasing number of projects undertaken for earth observation activities by numerous space agencies.
Remote sensing technology enable identification and analysis of an object without any direct contact with it. The remote sensing technology uses light and infrared portion of electromagnetic spectrum. Remote sensing is the process of detecting and monitoring the physical characteristics of an area by measuring its reflected and emitted radiation at a distance. High-end cameras collect remotely sensed images, which help researchers to do a thorough analysis.
The technology is used in numerous fields such as land surveying, hydrology, ecology, meteorology, oceanography, glaciology, commercial, economic, planning, and humanitarian applications. Remote sensing technology has witnessed a healthy technology advancement in terms of radiometric, spatial and spectral resolution.
Market Trends, Drivers, Restraints, and Opportunities:
- Rising advancement in the remote sensing technology is driving the market growth.
- Increasing use of geographic information system (GIS) applications in environmental risk management is spurring the growth of the market.
- Integration of advanced active sensors is stimulating the market growth.
- Dearth of awareness and interoperability concerns can impede the growth of the market.
- Rising use of remote sensing data in a wide variety of defense and business applications is boosting the growth of the market
- The prevailing government compliances and regulatory issues is hampering the market growth
- High initial investment incurred in development of latest technology can restraint the growth of the market.
Scope of the Report
The report on the remote sensing technology market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes |
Details |
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Report Title |
Remote Sensing Technology Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
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Base Year |
2020 |
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Historic Data |
2018–2019 |
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Forecast Period |
2021–2028 |
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Segmentation |
Technologies (Active Remote Sensing and Passive Remote Sensing), Applications (Agriculture & Living Resources, Military & Intelligence, Disaster Management, Infrastructure, Weather, Others), and Platforms (Satellite and Aerial System) |
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Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
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Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
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Key Players Covered in the Report |
DigitalGlobe, Esri, General Dynamics Mission Systems, Hexagon AB, Lockheed Martin Corporation, Orbital Insight, Planet Labs Inc., Honeywell International inc., ITT Inc., LumaSense Technologies Inc., Northrop Grumman Corporation., Raytheon Company, Thales Group, Descartes Labs, Inc., GEOSYS, Farmers Edge Inc., Astro Digital , Parrot Drones SAS., TerrAvion Inc., SlantRange, Inc., and Ceres Imaging, Inc. |
Remote Sensing Technology Market Segment Insights:
Passive remote sensing segment to account a large market share
On the basis of technologies, the market is divided into active remote sensing and passive remote sensing. The passive remote sensing segment accounted for above 55% in 2020, in terms of revenue. Passive remote sensing technology provides high quality satellite images, which increases it preference for earth various observation applications. On the other hand, the active remote sensing segment is anticipated to expand at a CAGR of over 10% during forecast period. The active remote sensing technology overcomes the drawbacks of passive remote sensing, which is resulting in healthy growth rate of the segment.
Disaster management segment anticipated to exhibit a high CAGR
Based on applications, the market is divided into agriculture & living resources, military & intelligence, disaster management, infrastructure, weather, others. The military and intelligence segment held a significant market share of over 30% in 2020. Conversely, the disaster management segment is anticipated to register a CAGR of around 15% during forecast period. The availability of continuously updated data helps authorities make better decisions related to evacuations and actions to be taken post the disaster. This, in turn, is increasing the deployment of remote sensing technology during the disaster management.
Aerial system segment to account a large market share
In terms of platforms, the market is divided into satellite and aerial systems. In 2020, the aerial systems segment accounted for more than 60% in terms of revenue. Increasing usage of drones in surveying fields reduces the cost and helps researchers to gather data at a spectacular rate. The surface mapping provides high accuracy data of survey area that cannot be accessed through satellites. However, the satellite segment is projected to lead the remote sensing technology market during forecast period. Satellites provide data in spatial, temporal, and spectral resolutions to cater to various application requirements.
North America to account a significant market share
In terms of regions, the market is divided into Asia Pacific, North America, Latin America, Europe and Middle East & Africa. In 2020, North America held a market share of 30% in terms of revenue. The early adoption of remote sensing technology in precision farming applications is anticipated to fuel the market growth in the region during the forecast period. The market in Asia Pacific is projected to expand at a CAGR of around 10% during the forecast period.
2. Assumptions and Acronyms Used
3. Research Methodology
4. Remote Sensing Technology Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Remote Sensing Technology Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Remote Sensing Technology Market - Supply Chain
4.5. Global Remote Sensing Technology Market Forecast
4.5.1. Remote Sensing Technology Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Remote Sensing Technology Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Remote Sensing Technology Market Absolute $ Opportunity
5. Global Remote Sensing Technology Market Analysis and Forecast by Applications
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Applications
5.2.2. Y-o-Y Growth Projections by Applications
5.3. Remote Sensing Technology Market Size and Volume Forecast by Applications
5.3.1. Agriculture & Living Resources
5.3.2. Military & Intelligence
5.3.3. Disaster Management
5.3.4. Infrastructure
5.3.5. Weather
5.3.6. Others
5.4. Absolute $ Opportunity Assessment by Applications
5.5. Market Attractiveness/Growth Potential Analysis by Applications
6. Global Remote Sensing Technology Market Analysis and Forecast by Region
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Region
6.2.2. Y-o-Y Growth Projections by Region
6.3. Remote Sensing Technology Market Size and Volume Forecast by Region
6.3.1. North America
6.3.2. Latin America
6.3.3. Europe
6.3.4. Asia Pacific
6.3.5. Middle East and Africa (MEA)
6.4. Absolute $ Opportunity Assessment by Region
6.5. Market Attractiveness/Growth Potential Analysis by Region
6.6. Global Remote Sensing Technology Demand Share Forecast, 2019-2026
7. North America Remote Sensing Technology Market Analysis and Forecast
7.1. Introduction
7.1.1. Basis Point Share (BPS) Analysis by Country
7.1.2. Y-o-Y Growth Projections by Country
7.2. North America Remote Sensing Technology Market Size and Volume Forecast by Country
7.2.1. U.S.
7.2.2. Canada
7.3. Absolute $ Opportunity Assessment by Country
7.4. North America Remote Sensing Technology Market Size and Volume Forecast by Applications
7.4.1. Agriculture & Living Resources
7.4.2. Military & Intelligence
7.4.3. Disaster Management
7.4.4. Infrastructure
7.4.5. Weather
7.4.6. Others
7.5. Basis Point Share (BPS) Analysis by Applications
7.6. Y-o-Y Growth Projections by Applications
7.7. Market Attractiveness/Growth Potential Analysis
7.7.1. By Country
7.7.2. By Product Type
7.7.3. By Application
7.8. North America Remote Sensing Technology Demand Share Forecast, 2019-2026
8. Latin America Remote Sensing Technology Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.1.3. Latin America Average Pricing Analysis
8.2. Latin America Remote Sensing Technology Market Size and Volume Forecast by Country
8.2.1. Brazil
8.2.2. Mexico
8.2.3. Rest of Latin America
8.3. Absolute $ Opportunity Assessment by Country
8.4. Latin America Remote Sensing Technology Market Size and Volume Forecast by Applications
8.4.1. Agriculture & Living Resources
8.4.2. Military & Intelligence
8.4.3. Disaster Management
8.4.4. Infrastructure
8.4.5. Weather
8.4.6. Others
8.5. Basis Point Share (BPS) Analysis by Applications
8.6. Y-o-Y Growth Projections by Applications
8.7. Market Attractiveness/Growth Potential Analysis
8.7.1. By Country
8.7.2. By Product Type
8.7.3. By Application
8.8. Latin America Remote Sensing Technology Demand Share Forecast, 2019-2026
9. Europe Remote Sensing Technology Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Europe Average Pricing Analysis
9.2. Europe Remote Sensing Technology Market Size and Volume Forecast by Country
9.2.1. Germany
9.2.2. France
9.2.3. Italy
9.2.4. U.K.
9.2.5. Spain
9.2.6. Russia
9.2.7. Rest of Europe
9.3. Absolute $ Opportunity Assessment by Country
9.4. Europe Remote Sensing Technology Market Size and Volume Forecast by Applications
9.4.1. Agriculture & Living Resources
9.4.2. Military & Intelligence
9.4.3. Disaster Management
9.4.4. Infrastructure
9.4.5. Weather
9.4.6. Others
9.5. Basis Point Share (BPS) Analysis by Applications
9.6. Y-o-Y Growth Projections by Applications
9.7. Market Attractiveness/Growth Potential Analysis
9.7.1. By Country
9.7.2. By Product Type
9.7.3. By Application
9.8. Europe Remote Sensing Technology Demand Share Forecast, 2019-2026
10. Asia Pacific Remote Sensing Technology Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Asia Pacific Average Pricing Analysis
10.2. Asia Pacific Remote Sensing Technology Market Size and Volume Forecast by Country
10.2.1. China
10.2.2. Japan
10.2.3. South Korea
10.2.4. India
10.2.5. Australia
10.2.6. Rest of Asia Pacific (APAC)
10.3. Absolute $ Opportunity Assessment by Country
10.4. Asia Pacific Remote Sensing Technology Market Size and Volume Forecast by Applications
10.4.1. Agriculture & Living Resources
10.4.2. Military & Intelligence
10.4.3. Disaster Management
10.4.4. Infrastructure
10.4.5. Weather
10.4.6. Others
10.5. Basis Point Share (BPS) Analysis by Applications
10.6. Y-o-Y Growth Projections by Applications
10.7. Market Attractiveness/Growth Potential Analysis
10.7.1. By Country
10.7.2. By Product Type
10.7.3. By Application
10.8. Asia Pacific Remote Sensing Technology Demand Share Forecast, 2019-2026
11. Middle East & Africa Remote Sensing Technology Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Middle East & Africa Average Pricing Analysis
11.2. Middle East & Africa Remote Sensing Technology Market Size and Volume Forecast by Country
11.2.1. Saudi Arabia
11.2.2. South Africa
11.2.3. UAE
11.2.4. Rest of Middle East & Africa (MEA)
11.3. Absolute $ Opportunity Assessment by Country
11.4. Middle East & Africa Remote Sensing Technology Market Size and Volume Forecast by Applications
11.4.1. Agriculture & Living Resources
11.4.2. Military & Intelligence
11.4.3. Disaster Management
11.4.4. Infrastructure
11.4.5. Weather
11.4.6. Others
11.5. Basis Point Share (BPS) Analysis by Applications
11.6. Y-o-Y Growth Projections by Applications
11.7. Market Attractiveness/Growth Potential Analysis
11.7.1. By Country
11.7.2. By Product Type
11.7.3. By Application
11.8. Middle East & Africa Remote Sensing Technology Demand Share Forecast, 2019-2026
12. Competition Landscape
12.1. Global Remote Sensing Technology Market: Market Share Analysis
12.2. Remote Sensing Technology Distributors and Customers
12.3. Remote Sensing Technology Market: Competitive Dashboard
12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
12.4.1. DigitalGlobe
12.4.2. Esri
12.4.3. General Dynamics Mission Systems
12.4.4. Hexagon AB
12.4.5. Lockheed Martin Corporation
12.4.6. Orbital Insight
12.4.7. Planet Labs Inc.
12.4.8. Honeywell International inc.
12.4.9. ITT Inc.
12.4.10. LumaSense Technologies Inc.
The remote sensing technology market has been segmented on the basis of
Technologies
- Active Remote Sensing
- Passive Remote Sensing
- Agriculture & Living Resources
- Military & Intelligence
- Disaster Management
- Infrastructure
- Weather
- Others
- Satellite
- Aerial Systems
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
- DigitalGlobe
- Esri
- General Dynamics Mission Systems
- Hexagon AB
- Lockheed Martin Corporation
- Orbital Insight
- Planet Labs Inc.
- Honeywell International inc.
- ITT Inc.
- LumaSense Technologies Inc.
- Northrop Grumman Corporation.
- Raytheon Company
- Thales Group
- Descartes Labs, Inc.
- GEOSYS
- Farmers Edge Inc.
- Astro Digital
- Parrot Drones SAS.
- TerrAvion Inc.
- Artificial Intelligence
- SlantRange, Inc.
- Ceres Imaging, Inc.
Major players of the market are DigitalGlobe, Esri, General Dynamics Mission Systems, Hexagon AB, Lockheed Martin Corporation, Orbital Insight, Planet Labs Inc., Honeywell International inc., ITT Inc., LumaSense Technologies Inc., Northrop Grumman Corporation., Raytheon Company, Thales Group, Descartes Labs, Inc., GEOSYS, Farmers Edge Inc., Astro Digital, Parrot Drones SAS., TerrAvion Inc., Artificial Intelligence, SlantRange, Inc., and Ceres Imaging, Inc.
Companies are engaging in partnership, collaboration, and mergers. Moreover, companies are focusing on expanding their product portfolio to expand their expand share.
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