During the past three decades after the first attempt to use satellite imagery or derived cloud products for rainfall estimation, much is known and understood concerning the scope and difficulties of satellite rainfall monitoring. After a brief general introduction this paper reviews recent progress in this field with special reference to improvement of algorithms, inter-comparison projects, integrative use of data from different sources, increasing lengths of data records and derived products, and interpretability of rainfall results. Also the paradigm of TRMM (Tropical Rainfall Measuring Mission) which is the first space mission(1997) dedicated to measuring tropical and subtropical rainfall though microwave and visible/infrared sensors, including the first spaceborne rain radar was introduced, and the potential applicability to the field of agriculture and water resources by combining satellite imagery is described.