The latest report by IMARC Group, titled “Remote Sensing Software Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” finds that the global remote sensing software market size reached US$ 1.46 Billion in 2021. Remote sensing software refers to an application that monitors and processes remotely sensed data to obtain geographic information through airborne sensor data and satellite sensor intelligence. It is widely available in two deployment models, including on-premises and cloud. It operates by collecting information over large spatial areas and tracking the changes in that region to improve the decision-making process. As a result, remote sensing software finds extensive applications in environment and natural hazard study, resource exploration, weather forecasting, and land-use mapping.
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.
Global Remote Sensing Software Market Trends:
The increasing applications of remote sensing software across various industries represent the primary factor driving the market growth. For instance, remote sensing software is widely used in the commercial, military, and defense sectors for interpreting data instantly and forecasting natural hazards effectively. In addition, there has been widespread product adoption in the healthcare industry for surveillance, risk assessment, monitoring, and analyzing the spread of viruses and infectious diseases. Moreover, the growing usage of remote sensing software in the agricultural sector to provide farmers information regarding climatic variables, crop health, soil quality, irrigation, and disease or pest management has augmented the product demand. Besides this, the surging need for geographic imaging, remote sensing, and global positioning system (GPS) satellite surveying for processing excessive geospatial data is another major growth-inducing factor. Furthermore, the leading players are introducing innovative web-based management applications to resolve limitations related to the installation of geographic information systems (GIS) and image processing software packages. In line with this, the development of advanced software that offers high resolution and next-generation space platforms to enhance remote sensing data has catalyzed market growth. Other factors, including the expanding military and defense sector, improvements in image processing techniques, technological advancements, and extensive investments in intelligent surveillance and reconnaissance (ISR) payloads and satellite communication, are also providing a positive thrust to the market growth. Looking forward, IMARC Group expects the market value to reach US$ 2.92 Billion by 2027, growing at a CAGR of 11.80% during 2022-2027.
- Based on the component, the market has been categorized into software and services.
- On the basis of the deployment mode, the market has been bifurcated into on-premises and cloud-based.
- The market has been divided based on the application into ground, satellite, and airborne.
- Based on the end user, the market has been classified as defense and commercial.
- Region-wise, the market has been segmented into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the market has also been analyzed, with some of the key players being BAE Systems plc, EOS Data Analytics Inc., Esri (Environmental Systems Research Institute, Inc.), Hexagon AB, L3Harris Technologies Inc., Merrick & Company, PCI Geomatics Enterprises, Inc., Textron Systems (Textron Inc.), and Trimble Inc.
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