$36.4 Billion Worldwide Remote Sensing Services Industry to 2027 - Impact of COVID-19 on the Market

DUBLIN, Aug. 5, 2020 /PRNewswire/ -- The "Remote Sensing Services - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.

The publisher brings years of research experience to the 7th edition of this report. The 178-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.

Global Remote Sensing Services Market to Reach $36.4 Billion by 2027

Amid the COVID-19 crisis, the global market for Remote Sensing Services estimated at US$14.1 Billion in the year 2020, is projected to reach a revised size of US$36.4 Billion by 2027, growing at a CAGR of 14.5% over the analysis period 2020-2027.

Satellites, one of the segments analyzed in the report, is projected to record a 14% CAGR and reach US$20.4 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the UAVs segment is readjusted to a revised 16.4% CAGR for the next 7-year period.

The U.S. Market is Estimated at $4.2 Billion, While China is Forecast to Grow at 14% CAGR

The Remote Sensing Services market in the U.S. is estimated at US$4.2 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$6.3 Billion by the year 2027 trailing a CAGR of 14% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 13.1% and 12.4% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 10.6% CAGR.

Other Platforms Segment to Record 13% CAGR

In the global Other Platforms segment, USA, Canada, Japan, China and Europe will drive the 12.8% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$1.8 Billion in the year 2020 will reach a projected size of US$4.2 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$4.4 Billion by the year 2027.

Competitors identified in this market include, among others:

• Antrix Corporation Ltd.
• Cyberswift LLC
• DigitalGlobe
• Ekofastba S.L
• Geo Sense Sdn. Bhd.
• Mallon Technology
• Remote Sensing Solutions.
• Satellite Imaging Corporation (SIC)
• SpecTIR LLC.
• Terra Remote Sensing Inc.
• The Airborne Sensing Corporation
• The Sanborn Map Company, Inc.
  

Key Topics Covered:

I. INTRODUCTION, METHODOLOGY & REPORT SCOPE

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

• Global Competitor Market Shares
• Remote Sensing Services Competitor Market Share Scenario Worldwide (in %): 2019 & 2025
• Impact of Covid-19 and a Looming Global Recession

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

IV. COMPETITION

Total Companies Profiled: 46

For more information about this report visit https://www.researchandmarkets.com/r/jvdyi7

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SOURCE Research and Markets