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Global Remote Sensing Software Market to Reach About USD 2.7 Billion by 2027, Aided by the Robust Growth of the Military and Defence Industry

According to a new report by EMR titled, ‘Global Remote Sensing Software Market Report and Forecast 2022-2027’, the global market for remote sensing software attained a value of about USD 1.3 billion in 2021. The industry is further expected to grow at a CAGR of 13.36% in the forecast period of 2022-2027 to reach a value of approximately USD 2.7 billion by 2027.

The market growth can be attributed to the growing demand for remote sensing software in the military and defence sector. As accurate geospatial information is crucial in the military and defence industry, the market for remote sensing software is witnessing robust growth. In addition, the advancements in military technologies are surging the deployment of remote sensing software to predict and prevent the emergence of virtual warfare and potential threats, which is augmenting the growth of the market. The increasing investments in defence technologies by various governments to boost their military capabilities is also expected to drive the growth of the market. Moreover, the development of advanced remote sensing software that can efficiently extract anomalous targets is providing further impetus to the market growth.

Some of the leading companies in the market are Hexagon AB (OTCMKTS: HXGBF) and Merrick & Company. In May 2018, the latter announced the release of the Merrick Advanced Remote Sensing (MARS®) software suite’s Version 2018. The updated version of the software provides support for data management, LiDAR point cloud visualisation, geospatial data production, LiDAR quality control, and automated data processing. The new version also enhances application usability and LAS 1.4 data throughput while offering improved auto-filtering tools. The tools are provided through the integration of rapidlasso GmbH LAStools filters. Moreover, the new version features LAStools “Ground” filter enables users to delineate drag box bare earth filtering over small areas. Such innovative features provide the user with fast, effective, and simple point cloud auto-classification by using matured and robust filter algorithms. The development of such products is propelling the market growth.

Market Analysis by Component, Deployment Model, Type, Application, End-User, and Region:

  • The market, on the basis of component, can be divided into software and services.
  • Based on deployment model, the industry can be divided into on-premises and cloud.
  • The major types of remote sensing software include web based and mobile.
  • By application, the market is segregated into ground base, satellite, and airborne.
  • On the basis of end-user, the market is classified into defence and commercial.
  • The regional markets for remote sensing software include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The increasing use of remote sensing software to monitor crop and soil health in the agricultural sector is propelling the market growth.
  • The market is being aided by the growing deployment of remote sensing software to accurately forecast the weather while understanding data observations regarding rapid climate change.
  • The growing use of remote sensing software in remote surveillance to provide optimal healthcare is significantly contributing to the market growth.
  • The increasing deployment of remote sensing software in public health research activities is providing impetus to the growth of the industry.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for remote sensing software for the periods (2017-2021) and (2022-2027).
  • The report also offers the historical (2017-2021) and forecast (2022-2027) markets for the components, deployment models, types, applications, end-users, and major regions of remote sensing software.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global remote sensing software market are Hexagon AB, BAE Systems plc, Harris Geospatial Solutions, Inc., Merrick & Company, and Textron Systems, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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