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.

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

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.

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 consultancy along with GPS satellite surveying and positioning services in various industries.

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

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
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com
Follow Us on: LinkedIn Twitter

About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP, based in Portland, Oregon. AMR 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 in making strategic business decisions and achieving sustainable growth in their respective market domains.

AMR launched its user-based online library of reports and company profiles, Avenue. An e-access library is accessible from any device, anywhere, and at any time for entrepreneurs, stakeholders, researchers, and students at universities. With reports on more than 60,000 niche markets with data comprising of 600,000 pages along with company profiles on more than 12,000 firms, Avenue offers access to the entire repository of information through subscriptions. A hassle-free solution to clients’ requirements is complemented with analyst support and customization requests.

Leave a comment

Your email address will not be published. Required fields are marked *