Remote Sensing Technology Market Size Worth $29.61 Billion By 2027

The global remote sensing technology market size is expected to reach USD 29.61 billion by 2027, expanding at a CAGR of 11.6% from 2020 to 2027, according to a study conducted by Grand View Research, Inc. Remote sensing technology is used to detect and monitor land and weather characteristics by measuring the reflected sunlight and emitted radiation from a satellite or an aircraft. Cameras fitted on the satellite and the aircraft to collect the remotely sensed images, which help organizations observe and analyze the land and forecast weather accordingly. The market is primarily driven by rising investments in earth observation projects. For instance, in August 2020, Indian earth observation startup Pixxel announced it raised investments worth USD 5 million for a constellation of Earth observation satellites.

The growing adoption of precision farming is expected to augment the market growth over the forecast period. The technology is used to identify crop conditions, determine the soil content such as moisture, and estimate the crop production. The health of crops is determined using remote sensing technology to reduce fertilizer usage, which reduces additional costs incurred by farmers. Moreover, the COVID-19 pandemic outbreak has led to the demand for remote sensing technology to monitor and curb the spread of the virus. The technology also helps to keep track of population concentration, determine mobility patterns, and document environmental changes.

The market comprises a high degree of competition due to the presence of numerous companies operating at the global level. These companies are focusing on enhancing their product portfolio to maintain and increase their market share. For instance, in October 2019, Hexagon AB announced the launch of its Power Portfolio which includes the latest version of remote sensing, Geographic Information System (GIS), and cartography products. The new versions have machine learning capabilities that help users address big data management issues.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/remote-sensing-technologies-market

Further key findings from the report suggest:

The passive remote sensing segment is anticipated to expand at the fastest CAGR exceeding 8% over the forecast period owing to the rising adoption of passive sensor technology in earth observation satellites
The military and intelligence segment held the largest market share of 32.25% in 2019. This share is attributed to the increasing usage of remote sensing technology for surveillance applications
The aerial systems segment is projected to expand at the fastest CAGR of over 8% during the forecast period due to the growing usage of UAVs for research and exploration applications
North America held the highest market share of 38.12% in 2019. This share is due to the increasing adoption of remote sensing technology in the U.S. for precision farming applications

U.S. MVNO Market Size Worth $32.19 Billion By 2025

The U.S. mobile virtual network operator (MVNO) market size is expected to reach USD 32.19 billion by 2025, according to a new report by Grand View Research, Inc., registering a 7.2% CAGR during the forecast period. Increasing demand for value-added services (VAS) over voice services has led to a rise in the adoption of MVNO in U.S.

Increasing demand for roaming MVNO model owing to rise in number of travelers in the country has greatly propelled the U.S. MVNO market over the forecast period. Additionally, MVNO operators have been offering service sets at lower costs, which is expected to considerably aid market growth.

Soaring demand for smartphones and mobile broadband, along with technological advancements and development of compact, lightweight, and multifunctional devices, is anticipated to significantly drive the U.S. market. Expansion of communication technologies such as LTE 4G and 5G as well as expansion of Wi-Fi offer growth opportunities for players.

A key trend that has been observed in the U.S. market is that MVNOs in the country allow their users to personalize their plans for meeting text, data, and voice demands. Increasing advancements in LTE infrastructure, which provides services such as VoLTE, ViLTE, and VoWiFi, is expected to offer growth prospects to market players over the forecast period.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/us-mvno-market

Further key findings from the report suggest:

The U.S. MVNO market is expected to project a CAGR of 7.2% over the forecast period, owing to increasing number of mobile subscribers in the country
By type, the discount segment is anticipated to dominate the market, with a revenue of USD 7.73 billion in 2025. This growth can be attributed to intense competition in the market, which encourages MVNOs to offer various discounts on voice, data, and text to retain existing users and attract new ones
On the basis of operational mode, the full MVNO segment is expected to reach USD 19.35 billion by 2025, owing to low capital investment required in setting it up
By way of end use, the consumer segment emerged dominant and is anticipated to register a CAGR of 7.0% over the forecast period. This growth can be attributed to growing advancements in high-speed mobile broadband and availability of low-cost smartphones in the market
Key industry participants include 7-Eleven Speak Out Wireless, AirVoice Wireless, Asahi Net, Boost Mobile LLC, CJ HelloVision Co. Ltd, and Cyfrowy Polsat SA.

Field Service Management Market Size Worth $4.1 Billion By 2025

The global field service management market size is expected to reach USD 4.16 billion by 2025, according to a new report conducted by Grand View Research, Inc. Various other factors such as improper management of inventory, increased inventory cycle time, increased holding cost, increased ordering cost and incorrect information about the stock further increase the cost of business operations. FSM software helps to fortify the functionality of the service industry while improving overall profitability.

The main forces which are driving the market include the increase in number of field operations across manufacturing, oil & gas and construction sector., increase in the use of smartphone devices, and rising demand for better organizational efficiency and reduced cost of operations. The advancement of cloud services, supports the integration of cloud to the FSM software. This is expected to surge the FSM market growth over the next nine years. Over the forecast period, most of the end use industries are expected to deploy the FSM software on the cloud rather than on the premise.

The global field service management market is anticipated to witness a high growth over the forecast period. The high presence of smartphones and tablets are playing an important role in the overall growth of the FSM industry globally. FSM solutions are also compatible with next generation smartphone operating systems, further boosting their importance across the competitive landscape.

Click the link below:
http://www.grandviewresearch.com/industry-analysis/field-service-management-market

Further key findings from the report suggest:

The mobile field execution solution provided by the FSM software is the most preferred solution by the end use industries which helps in execution and maintenance of field work by technicians, reporting status, receiving alerts, gain visibility to individual performance.
Most of the end use industries such as utilities, healthcare, IT among others are moving from on-premise deployment to cloud deployment of the FSM software as it enables faster deployment speeds and reduces upfront costs.
As compared to the small and medium enterprises, the large enterprises are increasingly adopting the FSM software for the management of large on field technicians and employees who work on field.
The FSM software is being increasingly adopted across the construction industry due to the rapid industrialization and increasing population particularly in developing countries such as China and India.
The FSM market is in the developing stage in the regions of Asia-Pacific, Middle East & Africa, and Latin America due to their increase in investment in IT sector and increased focus on digital workplace transformation initiatives.
The key purveyors in this industry comprise Accenture, Cisco Systems, Astea International, Inc., Comarch, ClickSoftware Technologies, Klugo, Infor, SAP, ServiceMax, Trimble Navigation Limited, among others.