North America Remote Sensing Services Market Share Expected to Reach $35,346.90 Million by 2031

According to a recent report published by Allied Market Research, titled, “Global North America Remote Sensing Services Market Analysis by Platform, End User, and Resolution: Global Opportunity Analysis and Industry Forecast, 2022-2031.”

The global North America remote sensing services market was valued at $8,240.0 million in 2021, and is projected to reach $35,346.90 million by 2031, growing at a CAGR of 16.0% from 2022 to 2031.

Increase in advancements in remote sensing technologies and rise in need of remote sensing data in various defense applications drive growth of the market. In addition, growth in adoption of GIS applications for environmental risk management fuels growth of the market. Furthermore, emergence of technologies such as cloud computing, big data analytics, and Internet of Things (IoT) is expected to provide remunerative opportunities for expansion of the market during the forecast period.

On the basis of platform, the ground segment dominated the North America remote sensing services market share in 2021, and is expected to continue this trend during the forecast period. The ground based remote sensing techniques are cheaper and less labor intensive than alternative options of excavation, which provide lucrative opportunities for the market growth. Moreover, satellite remote sensing provides unique opportunities in offering various components of land information by integrating with ground-based observation, further drive the market growth. However, UAVs segment is expected the highest market growth in the upcoming years. Various governments including the government of the U.S. are making policies to push tribal communities into main stream public for their social and economic growth. Sometimes it is difficult for humans to reach into dense forest of tribal areas for surveying tribal communities, their forests, and farming lands. As a result, UAVs and drones are used for hassle free tasks. Such benefits drive the market growth.

On the basis of resolution, the spatial segment dominated the growth in 2021 and is expected to continue this trend during the North America remote sensing services market forecast period. As it provides insightful information of satellite images and data captured form various spatial technologies such as global positioning system, geographic information systems (GIS), and remote sensing. In addition, organizations are integrating this solution to tackle various challenges faced by environmental and life sciences industries, majorly focusing on ecology, epidemiology, and geology. Such benefits provide lucrative opportunities for the market growth. However, temporal segment is expected to witness the highest growth in the upcoming year. This is attributed to increase in number of space missions, rise in data temporal resolution, as well as free access data policy adopted for missions such as Landsat and Sentinel, further drive the growth of the North America remote sensing services industry.

Post COVID-19, North America remote sensing services market size is estimated to grow from $9,294.90 million in 2022 and projected to reach $ 35,346.90 million by 2031, at a CAGR of 16.0%. The COVID-19 pandemic can contribute to trade changes. For instance, as coronavirus continues to sweep the region, many countries will recognize that their supply chains are dependent on others.

Supply chains that have been disrupted include hardware equipment of the remote sensing devices such as sensors, UAVs parts and satellite parts. The remote sensing service market is experiencing supply shortages or halted shipments of these hardware equipment across the region, as workforce is reduced and nonessential businesses have stopped their operations. The impact is majorly witnessed in the U.S. where majority of the hardware equipment are produced.

The current COVID-19 pandemic has highlighted the importance of geospatial imaging for forecasting weather condition the region. Connectivity has enabled companies to continue engaging with customers as well as conduct business transactions online. In addition, the combination of remote sensing technology and digitalization creates new opportunities for service providers to extend their businesses beyond connectivity into a variety of sectors ranging from public service, defense, to agriculture.

KEY FINDINGS OF THE STUDY

• On the basis of platform, the ground segment dominated the North America remote sensing services market in 2021; However, the UAVs segment is expected to witness the highest growth rate during the forecast period.
• Depending on end user, the defense sector generated the highest revenue in 2021. However, the commercial segment is expected to witness the highest growth rate in the near future.
• On the basis of resolution, the spatial segment generated the highest revenue in 2021. However, the temporal segment is expected to witness the highest growth rate in the near future.
• Country-wise, the North America remote sensing services market was dominated by U.S. in 2021. However, Canada is expected to witness significant growth in the coming years.

This report gives an in-depth profile of some key market players in the North America remote sensing services market, include Barracuda Network, Inc, Boeing Inc., Lockheed Martin Corporation., MAXAR, Radware Ltd., Satellite Imaging Corporation, SPECTIR, Terra Remote Sensing, The Airborne Sensing Corporation and The SANBORN MAP. This study includes market trends, North America remote sensing services market analysis, and future estimations to determine the imminent investment pockets.