TMCnet News

Remote Sensing Software Market to Reach $2.60 Billion, Globally, by 2027 at 13.2% CAGR: Allied Market Research
[October 19, 2020]

Remote Sensing Software Market to Reach $2.60 Billion, Globally, by 2027 at 13.2% CAGR: Allied Market Research


PORTLAND, Ore., Oct. 19, 2020 /PRNewswire/ -- Allied Market Research published a report, titled, "Remote Sensing Software Market by Component (Software and Services), Deployment Model (On-Premise and Cloud), Software Type (Web-Based and Mobile), Application (Ground, Airborne, and Satellite) and End User (Government & Defense (Defense Organizations, Homeland Security Agencies, and Scientific Research,), and Commercial (Energy & Power, Agriculture, Healthcare, Weather Forecasting, Education, and Others), and Region: Global Opportunity Analysis and Industry Forecast, 2020-2027." According to the report, the global remote sensing software industry garnered $976.00 million in 2019, and is expected to generate $2.60 billion by 2027, witnessing a CAGR of 13.2% from 2020 to 2027.

Allied Market Research

Download Sample Report: https://www.alliedmarketresearch.com/request-sample/7597

Drivers, restraints, and opportunities

Advancements in remote sensing technologies, need for remote sensing data in various defense applications, adoption of environmental risk management, and investments in satellite communication and Intelligence, Surveillance, and Reconnaissance (ISR) payloads drive the growth of the global remote sensing software market. However, lack of strict regulations & extensive government policies and requirements of high initial investment hinder the market growth. On the other hand, emergence of technologies such as cloud computing, big data analytics, and internet of things (IoT) present new opportunities in the coming years.

Impact of Covid-19 on Remote Sensing Software Market:

  • The adoption of remote sensing software has increased to map the spread of the disease against different parameters including demographics, environment, and geographies to understand spread patterns & intensity.
  • Moreover, this type of software has been utilized to determine the origin of outbreaks to devise preventive and control measures. With the help of surveillance and keeping an eye on patients, it helps people in tracking nearby patients and maintaining social distancing.
  • Governments of many countries have been utilizing remote sensing technologies to make decisions on implementing different policies regarding economic loss, city reopening, and arrangement of medical resources.

Get detailed COVID-19 impact analysis on the Remote Sensing Software Market

The software segment to continue to dominate in terms of revenue by 2027

Based on component, the software segment accounted for the largest market share in 2019, holding around three-fifths of the global remote sensing software market, and is expected to continue to dominate in terms of revenue throughout the forecast period. This is due to increase in need for geographic imaging to process geospatial data and its time- and cost-saving benefits. However, the services segment is estimated to witness the highest CAGR of 15.3% from 2020 to 2027, owing to surge in need for remote sensing and mapping onsultancy along with GPS satellite surveying and positioning services in various industries.



The government & defense segment to lead throughout the forecast period

Based on end user, the government & defense segment contributed to the largest market share, holding nearly three-fifths of the total share of the global remote sensing software market in 2019, and will continue to lead throughout the forecast period. This is attributed to rise in demand for accessing accurate high-resolution imagery and the ability to provide information within rapid timelines. However, the commercial segment is projected to manifest the highest CAGR of 14.5% from 2020 to 2027, owing to the huge adoption to improve agricultural yields through measurement of soil moisture and crop growth along with locating sub-surface commodities such as natural gas & oil.


For Purchase Inquiry: https://www.alliedmarketresearch.com/purchase-enquiry/7597

North America expected to maintain its lead status during the forecast period

Based on region, North America held the highest market share with more than two-fifths of the global remote sensing software market in 2019, and is expected to maintain its lead status during the forecast period. This is attributed to increase in need to address academic and applied archaeological as well as anthropological research problems and advances in satellite-based remote sensing. However, Asia-Pacific is expected to witness the largest CAGR of 17.2% from 2020 to 2027. This is due to the need for reliable & timely information for sustainable management of natural resources as well as for environmental protection along with untapped potential in emerging countries.

Leading Market Players

  • Clark Labs
  • BAE Systems
  • Earth Observing System
  • Harris Geospatial Solutions, Inc.
  • ESRI
  • Hexagon AB
  • MERRICK & COMPANY
  • Textron Systems
  • PCI Geomatics
  • Trimble Inc.

Similar Reports:

Software-as-a-service Market: Global Opportunity Analysis and Industry Forecast, 2020-2027

Construction Management Software Market: Global Opportunity Analysis and Industry Forecast, 2020-2027

Aircraft Navigation Software Market: Global Opportunity Analysis and Industry Forecast, 2020-2027

Game Development Software Market: Global Opportunity Analysis and Industry Forecast, 2020-2027

Remote Infrastructure Management Market: Global Opportunity Analysis and Industry Forecast, 2020-2027

AVENUE- A Subscription-Based Library (Premium on-demand, subscription-based pricing model):

AMR introduces its online premium subscription-based library Avenue, designed specifically to offer cost-effective, one-stop solution for enterprises, investors, and universities. With Avenue, subscribers can avail an entire repository of reports on more than 2,000 niche industries and more than 12,000 company profiles. Moreover, users can get an online access to quantitative and qualitative data in PDF and Excel formats along with analyst support, customization, and updated versions of reports.

Get an access to the library of reports at any time from any device and anywhere. For more details, follow the link: https://www.alliedmarketresearch.com/library-access

About Allied Market Research:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:

David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free: 1-800-792-5285
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
[email protected]
Web: https://www.alliedmarketresearch.com
Follow Us on: LinkedIn Twitter

 

Cision View original content:http://www.prnewswire.com/news-releases/remote-sensing-software-market-to-reach-2-60-billion-globally-by-2027-at-13-2-cagr-allied-market-research-301154647.html

SOURCE Allied Market Research


[ Back To TMCnet.com's Homepage ]