Dublin, Jan. 28, 2021 (GLOBE NEWSWIRE) -- The "Remote Sensing Services Market Forecast to 2027 - COVID-19 Impact and Global Analysis By Resolution (Spectral, Spatial, Radiometric, and Temporal); Platform Type (Aircraft, UAV, Satellite, and Ground); End User (Commercial and Defense)" report has been added to ResearchAndMarkets.com's offering.
The market was valued at US$ 13,025.5 million in 2019 and is projected to reach US$ 37,650.7 million by 2027; it is expected to grow at a CAGR of 14.8% from 2020 to 2027.
APAC is estimated to grow at the highest CAGR of 17.5% in the global track geometry measurement system market, followed by Europe and North America. To track the changing percentage of land usage for agriculture, the need to collect data on the same is important that will fuel the penetration of remote sensing in Asia. Moreover, the European agriculture sector holds significant potential for the utilization of remote sensing technologies, especially for smart farming. These sensing services help improve crop health and soil quality, and reduce the costs of farming.
Moreover, the defense sector is opting for remote sensing services due to the growing technology adoption to monitor activities. France is a foremost country with a strong base of aircraft companies, which leads to multiple opportunities for companies offering remote sensing services for aircraft applications. The sensors can be mounted on satellites or aircraft.
A wide range of applications wherein remote sensing is employed include coastal applications, hazard assessment, and natural resource management. Europe has multiple remote sensing service providers that serve a wide number of verticals. For instance, RSS - Remote Sensing Solutions GmbH, Germany, provides services such as satellite image processing, thematic mapping, environmental monitoring, and spatio-temporal analyses.
The remote sensing services market players are mainly focusing on expanding their geographic presence, winning new contracts, and product and service enhancements. For instance, in 2020, Mallon Technology won the Best Service Category award of the GO Awards Northern Ireland 2020; the award marks the excellence of customer service provided by the company.
Impact of COVID-19 on Remote Sensing Services Market
The COVID-A9 pandemic has led to a temporary halt in agricultural activities, urban planning, forestry activities, and so on, since the beginning of 2020. With the imposition of lockdown across various countries in the world, the industries of respective applications have been witnessing declining.
Due to low growth in the first quarter of 2020, the remote sensing services market has witnessed slight decline; however, with the resuming businesses in several countries from second and third quarters, the market has been gradually growing.
Key Topics Covered:
2. Key Takeaways
3. Research Methodology
4. Remote Sensing Services Market Landscape
4.1 Market Overview
4.2 Porter's Five Forces Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. Remote Sensing Services Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Government Regulations in Developed Countries
5.1.2 Diverse Application Areas of Remote Sensing
5.2 Market Restraints
5.2.1 Lack of IoT Infrastructure in Underdeveloped Countries
5.3 Market Opportunity
5.3.1 Increasing Scope of Big Data
5.4 Future Trend
5.4.1 Integration of Emerging and Sophisticated Technologies
5.5 Impact Analysis of Drivers and Restraints
6. Remote Sensing Services Market - Global Market Analysis
6.1 Remote Sensing Services Market Global Overview
6.2 Remote Sensing Services Market - Revenue and Forecast to 2027 (US$ Million)
6.3 Market Positioning - Global Market Players Ranking
7. Remote Sensing Services Market Analysis - By Resolution
7.2 Remote Sensing Services Market, By Resolution (2019 and 2027)
8. Remote Sensing Services Market - By Platform Type
8.2 Remote Sensing Services Market, by Platform Type (2019 and 2027)
9. Remote Sensing Services Market Analysis - By End User
9.2 Remote Sensing Services Market, By End User (2019 and 2027)
10. Remote Sensing Services Market - Geographic Analysis
11. Impact of COVID-19 Outbreak
12. Industry Landscape
12.2 Market Initiative
13. Company Profiles
Antrix Corporation Limited
CyberSWIFT Infotech Pvt. Ltd
Geo Sense Sdn. Bhd
Satellite Imaging Corporation
Terra Remote Sensing Inc
The Airborne Sensing Corporation
The Sanborn Map Company, Inc
For more information about this report visit https://www.researchandmarkets.com/r/ht9nox
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