According to the latest report by IMARC Group, title “Remote Sensing Software Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027“, the global remote sensing software market size reached US$ 1.46 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 2.92 Billion by 2027, exhibiting a CAGR of 11.80% during 2022-2027.

Remote sensing software is an application that monitors and detects the physical features of an area by measuring the reflected and emitted electromagnetic (EM) radiation from atmospheric, terrestrial, and aquatic ecosystems of the planet without any physical contact. It remotely senses data to acquire spatial information through satellite sensor intelligence and airborne sensor data. It also collects information on geographic areas and tracks the changes in that region to enhance the decision-making process. As a result, remote sensing software finds widespread adoption in resource exploration, weather forecasting, land-use mapping, and environment and natural hazard study.

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Remote Sensing Software Market Trends: 

The market is primarily driven by the increasing environmental awareness and the rising number of earth observation projects initiated by various space agencies. In addition, the rising adoption of remote-sensing software in several industrial verticals, including commercial, healthcare, military, and defense, that instantly interpret data and forecast natural hazards is contributing to market growth.

Apart from this, the sudden coronavirus disease (COVID-19) outbreak has escalated the demand for remote sensing technology to monitor and curb the spread of viruses and record environmental changes. Moreover, the surging requirement for remote sensing, geographic imaging, and global positioning systems (GPS) satellite to process excessive geospatial data represents another major growth-inducing factor.

Besides this, the increasing utilization of the Internet of Things (IoT) in the agricultural sector to manage drones, remote sensors, and computer imaging to monitor crops and offers data related to crop health, and quality for effective farm management, is propelling the market growth. Furthermore, the growing investments and funding in intelligent surveillance, reconnaissance (ISR) payloads and research and development (R&D) activities are creating a positive market outlook across the globe.

Key Market Segmentation:

The report has been segmented the market into following categories:

Breakup by Component:

• Software
• Services

Breakup by Deployment Mode:

• On-premises
• Cloud-based

Breakup by Application:

• Ground
• Satellite
• Airborne

Breakup by End User:

• Defense
• Commercial

Breakup by Geography:

• North America: (United States, Canada)
• Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America: (Brazil, Mexico, Others)
• Middle East and Africa

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List of Key Companies Covered in this Market Report:

The major players in the market are BAE Systems plc, EOS Data Analytics Inc., Esri, Hexagon AB, L3Harris Technologies Inc., Merrick & Company, PCI Geomatics, Textron Systems (Textron Inc.) and Trimble Inc.

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About IMARC Group:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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