Global Remote Sensing Services Market is Segmented By Service (Data Acquisition/Processing, Consulti....
Global remote sensing services market size is estimated to be valued at US$ 17.13 Bn in 2023 and is expected to reach US$ 37.82 Bn by 2030, exhibit a compound annual growth rate (CAGR) of 11.8% from 2023 to 2030. Remote sensing services involve acquiring and analyzing data about an object or phenomenon through devices that are not in physical contact with the object. This includes technologies like aerial photography, satellites, radars, lidar, and others. Remote sensing provides several advantages such as wide coverage, real time data, and cost effectiveness as compared to ground surveys. The market growth is driven by rising need for improved monitoring and surveillance across industries, increasing adoption of location-based services, growing applications in military intelligence, and defense sectors.
Global remote sensing services market is segmented by service, end use industry, technology, application, and region. By service, the market is segmented into data acquisition/data processing, consulting services, managed services and value-added services. Data acquisition/data processing accounted for the largest share, due to the increasing need for geospatial data and maps across various industries.
Global Remote Sensing Services Market Drivers:
Global Remote Sensing Services Market Opportunities:
Global Remote Sensing Services Market Restraints:
Analyst’s View:
The global remote sensing services market has tremendous growth opportunities in the coming years. The increasing use of geospatial data across various industries such as defense, agriculture, energy & power is a major driver for market growth. Additionally, the rise in urbanization and infrastructure development projects worldwide will augment the demand for remote sensing solutions. However, the lack of skilled workforce and high costs associated with satellite imagery and data processing are some challenges impeding the market expansion. Data privacy and security concerns also act as a restraint while collecting and sharing geospatial data.
That said, the increasing integration of AI, IoT, and blockchain technologies with remote sensing platforms is expected to unlock new revenue streams. Adoption of remote sensing as a service or SaaS model would help lower the entry barriers for small organizations. Moreover, the development of small satellite constellations for Earth observation by private space companies would make space-based imaging more accessible and affordable.
The Asia Pacific region, with emerging economies like China and India investing heavily in infrastructure and urban development, is projected to dominate the global market in the long run. North America will likely continue holding the second position owing to strong defense budgets and the presence of leading tech companies offering commercial remote sensing. Overall, the demand for precision agriculture, environmental monitoring, and defense modernization worldwide will drive sustained growth in the remote sensing services industry.
Market Size in USD Bn
CAGR11.8%
Study Period | 2023 - 2030 |
Base Year of Estimation | 2022 |
CAGR | 11.8% |
Fastest Growing Market | Asia Pacific |
Larget Market | North America |
Market Concentration | High |
Major Players | Airbus, Planet Labs, Maxar Technologies, ICEYE, BlackSky and Among Others |
Figure 1. Global Remote Sensing Services Market Share (%), By Region, 2023
Airbus, Planet Labs, Maxar Technologies, ICEYE, BlackSky, Satellogic, UrtheCast Corp., Deimos Imaging, and GeoOptics
Global Remote Sensing Services Market
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Suraj Bhanudas Jagtap is a seasoned Senior Management Consultant with over 7 years of experience. He has served Fortune 500 companies and startups, helping clients with cross broader expansion and market entry access strategies. He has played significant role in offering strategic viewpoints and actionable insights for various client’s projects including demand analysis, and competitive analysis, identifying right channel partner among others.
What are the key factors hampering growth of the global remote sensing services market?
Limitations in spatial and spectral resolution, complexities in data integration and analytics, and high costs of services and data acquisition are the key factors hampering growth of the global remote sensing services market.
What are the major factors driving the global remote sensing services market growth?
Increasing need for improved monitoring and surveillance, rising adoption of location-based intelligent systems, increasing applications in the military and defense sector, advancements in sensor technologies and imaging capabilities are the major factors driving the global remote sensing services market growth.
Which is the leading service segment in the global remote sensing services market?
The leading service segment in the global remote sensing services market is data acquisition and data processing services.
Which are the major players operating in the global remote sensing services market?
The major players operating in the global remote sensing services market are Airbus, Planet Labs, Maxar Technologies, ICEYE, BlackSky, Satellogic, UrtheCast Corp., Deimos Imaging, and GeoOptics.
What will be the CAGR of global remote sensing services market?
The CAGR of the global remote sensing services market is 11.8%.