Remote sensing technology market to grow 11% in 2022: reportNews
September 16, 2022
DUBLIN, Ireland. The global remote sensing technology market will grow from $13.76 billion to $15.22 billion between 2021 and 2022 for a compound annual growth rate (CAGR) of 10.6%, a new report predicts.
The report, from Research and Markets, additionally states that the market will increase to $23 billion by 2026, with the farming industry largely driving the growth but the military and intelligence sector also contributing.
"Technological advancement is a key trend that is gaining popularity in the remote sensing technology market," the report states. "[C]ompanies are implementing next-generation remote sensing technology into their devices, such as active sensors, LiDAR, InSAR, PSInSAR, SAR, SRT, SqueeSAR, passive sensors, UAV, and others."