Global Satellite Remote Sensing Market Report 2021-2024 - Market Leaders Sense Brewing Competition from New Breed of Micro Satellite Companies
DUBLIN, March 11, 2021 /PRNewswire/ -- The "Satellite Remote Sensing - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
The global market for Satellite Remote Sensing Services is projected to reach US$ 7 billion by 2024, driven by the successful exploitation of satellite image data in a wide range of fields such as business, mining, disaster mitigation planning and recovery, weather forecasting and environmental protection, among others.
Commercial satellite remote sensing services, which involve sales of satellite images to commercial establishments, are also benefiting from the increased emphasis on earth observation. Imaging the physical, biological, and chemical attributes of the Earth is growing in significance in a multitude of end-use scenarios, including land-use planning, forest development, national security and homeland defense, monitoring urban sprawl and urban planning, observing changes in agricultural land and assessing strain on natural resources such as water, among others.
The market also stands poised to benefit from the proliferation of micro satellites offering earth observation services at lower cost. The United States represents the largest market worldwide.
Asia-Pacific ranks as the fastest growing market with a CAGR of 20.4% over the analysis period driven by growing R&D investments in remote sensing research and increased interest in satellite remote sensing for assessment of atmospheric pollution and air quality in heavily polluted Southeast Asian countries such as China, Taiwan, India and South Korea.
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
For more information about this report visit https://www.researchandmarkets.com/r/u820o1
Research and Markets
View original content:http://www.prnewswire.com/news-releases/global-satellite-remote-sensing-market-report-2021-2024---market-leaders-sense-brewing-competition-from-new-breed-of-micro-satellite-companies-301245680.html
SOURCE Research and Markets