A new market research study, titled “Commercial Satellite Imaging Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023” has been recently published by Transparency Market Research and made available on the company’s website. The research study offers a detailed analysis of the market, focusing on the key growth drivers, current trends, and opportunities. It also covers the product segmentation, major geographical segments, and competitive scenario.As per the research study, in 2014, the global commercial satellite imaging market was worth US$2.50 bn and is predicted to reach a valuation of US$6.48 bn by the end of 2023. The market is expected to log a healthy 11.40% CAGR between 2015 and 2023.
Browse the full Commercial Satellite Imaging Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023 report at http://www.transparencymarketresearch.com/commercial-satellite-imaging-market.html
Commercial satellite imaging refers to the collection of data using a rotating satellite around the Earth in the form of images. It comprises several cameras, instruments, and sensors, which are installed on different satellites orbiting the Earth. The key benefit of satellite imaging is that a satellite can be positioned anywhere in space in order to take remote images of the planet. The growing demand for high-resolution satellite imagery, thriving commercial space economy, and the wide application base of commercial satellite imaging are some of the key factors driving the commercial satellite imaging market worldwide.
By end use, the global market for commercial satellite imaging has been categorized into commercial enterprises, military, government, insurance sectors, energy, forest, civil engineering, and agriculture. In 2014, the government segment dominated the market, accounting for a 30% share in the overall market and is expected to remain in the leading position in the next few years. This segment is projected to register a 14% CAGR between 2015 and 2023. The rapid growth of this segment can be credited to the increasing number of commercial satellite launches by ISRO and NASA.
Among the major applications of commercial satellite imaging, in 2014, the defense and intelligence segment led the market, holding a 32.5% share in the global commercial satellite imaging market, owing to the rising adoption by governments for infrastructure, military, and other applications. In the same year, the geospatial technology segment accounted for the second position in the overall market and is expected to witness substantial growth in the near future. The natural resources management segment is also projected to witness rapid growth due to the rising deforestation concerns across the globe.
In 2014, North America dominated the market, accounting for a 45% share in the global market for commercial satellite imaging. The rapid development of this region can be attributed to the strong technological base and increased government funding. On the other hand, the Latin America market for commercial satellite imaging is anticipated to register a high 14.50% CAGR between 2015 and 2023. The governments in this region are encouraging and welcoming foreign investments, which is estimated to fuel the growth of geospatial industry throughout the forecast period.
In the last section, the research report covers the competitive scenario of the global market for commercial satellite imaging and offers a thorough vendor analysis for the same. Some of the leading players operating in the global market for commercial satellite imaging are Planet Labs, Inc., Exelis, Inc., Galileo Group, Inc., SkyLab Analytics, DigitalGlobe, Inc., Blacksky Global, Trimble Navigation Limited, Spaceknow, Inc., and Telespazio.
Key Segments of the Global Commercial Satellite Imaging Market:
Global Commercial Satellite Imaging Market, By End-use Industry
- Commercial Enterprises
- Civil Engineering Industry
- Energy Sectors
Global Commercial Satellite Imaging Market, By Applications
- Geospatial Technology
- Natural Resources Management
- Construction and Development
- Disaster Response Management
- Defense and Intelligence
- Conservation and Research
- Media and Entertainment
Global Commercial Satellite Imaging Market, By Geography
- North America (NA)
- Europe (EU)
- Asia Pacific (APAC)
- Middle East & Africa (MEA)
- Latin America (LATAM)
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