Commercial Satellite Imaging Market
Commercial Satellite Imaging Market (End User - Government, Commercial Enterprises, Civil Engineering Industry, Military, Forest, Agriculture, Energy Sectors, and Insurance; Applications - Energy, Geospatial Technology, Natural Resources Management, Construction and Development, Disaster Response Management, Defense and Intelligence, Conservation and Research, and Media and Entertainment) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2019 - 2027
Press Release :
Global Commercial Satellite Imaging Market: Snapshot
Satellite images are collected by special imaging satellites operated by commercial businesses and governments across the globe. Companies operating in the commercial satellite imaging market sell images to businesses such as Google Maps and Apple Maps, and governments through licensing agreements. The usage of satellite imagery for commercial purposes such as agriculture, defense, energy, and insurance is known as commercial satellite imaging. Amalgamation of high-end technologies in commercial satellite imaging has encouraged various industries to deploy the technology in order to increase their reach the world. Rise in demand for high resolution and advanced satellite imagery in the field of national development administration, emergency services, national defense organizations, homeland security agencies, and environment protection has augmented the adoption of commercial satellite imaging.
The global market commercial satellite imaging market is expected to expand at a CAGR of 11.61% from 2019 to 2027. The commercial satellite imaging market was valued at US$ 3.82 Bn in 2018 and is expected to reach US$ 10.23 Bn by the end of 2027.
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Defense and Intelligence End-user Segment to Lead Global Commercial Satellite Imaging Market
Media & entertainment, conservation & research, disaster response management, defense & intelligence, construction & development, geospatial technology, natural resources, and energy are the core applications of commercial satellite imaging. Defense & intelligence was the leading segment of the commercial satellite imaging market in 2018. This trend is anticipated to continue during the forecast period.
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Rise in deployment of commercial satellite imaging in defense sector can be ascribed to the rise in need for advanced imaging services for staying ahead and increase in need to employ advanced technology for military research purposes.
North America to Dominate Global Commercial Satellite Imaging Market
Based on region, the global commercial satellite imaging market has been segmented into Middle East & Africa, Europe, North America, Latin America, and Asia Pacific. North America was the leading region in terms of adoption of commercial satellite imaging technology with more than 45% share in 2018. The growth of the commercial satellite imaging market in the region can be ascribed to the growth in funding in different space programs and increase in research to achieve strong base of the technology. The market in the region is expected to expand significantly in the near future, led by advancements in research and development projects. Latin America is estimated to offer lucrative opportunities to the global commercial satellite imaging market during the forecast period. Vendors in the region are keen on capitalizing on these lucrative opportunities. The commercial satellite imaging market in Latin America is estimated to expand owing to the rise in application of the technology in industrial and agricultural sectors.
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Leading players operating in the global commercial satellite imaging market are
- Galileo Group Inc.
- Blacksky Global
- Planet Labs Inc
- DigitalGlobe Inc.
- Exelis Inc.
- Trimble Navigation Ltd.
- SkyLab Analytics
- Spaceknow Inc.
Technological Advancement and Concern for Security to Boost Commercial Satellite Imaging Market
With its extensive world coverage and rapid transmission of visual information, satellite imaging has exceeded the use of terrestrial and aerial imagery by eliminating the constraint of geographical scope. The relevance of satellite imaging has motivated governmental organizations to encourage its growth. By funding in satellite imaging technology, several governments have assisted the companies analyzed in the market. The Australian government has spent in satellite technology and invested USD 260 million on satellite technology employment creation in Australia. With the rising significance of this technology, the global commercial satellite imaging market is likely to observe growth in the near future.
In most countries, rising military and defense expenditures for the implementation of security policies are predicted to support the growth of the global commercial satellite imaging market. Given the increasing security issues, several countries, with the assistance of technological advancement, have been deploying satellites to reinforce their defense activities. The growth of this market is therefore anticipated to be stimulated by a spike in the number of satellite launches across several countries. For geospatial imaging, the defense industry often employs commercial satellite imaging, which is likely to add fillip to the market in the near future.
Augmented Demand for Use in Defense and Military Proposes to Trigger Growth of the Market
The military and defense uses of commercial satellite imaging have become the main end-user segment. Security and surveillance applications, which are the main functionalities of every defense organization, can be attributed to the growth of this segment in the global commercial satellite imaging market. Authorities have their satellites orbiting earth in several situations, executing many tasks. However, for the safety of many other countries, they typically have restricted access to global airspace. Governments may practice shutter control policies in some extreme circumstances, which could involve international satellites to shut down satellite imaging equipment in territorial airspace.
Global Industrial Automation Market: Overview
Commercial satellite imaging has grown extensively in recent times due to constant innovation and development. The wide use of stately images has grown the commercial satellite market largely in past recent years. The increasing efficiency of commercial satellite imaging now possess high resolution satellite imagery that includes national defense organizations, various commercial sectors including food and pharmaceutical, environmental protection and national development organizations, and hyper spectral imaging from homeland security agencies.
The constant efforts made for technological advancements in the aerospace sector has fuelled the commercial satellite imaging market. The government sending has increased significantly for several space programs to advance work in the aerospace sector mainly with technological developments. Further, inflating demand from the private sector have boosted the commercial satellite imaging market globally. The decreasing price of satellite imaging with technological advancements that has enhanced the capacity of GPS satellite, remote sensing technology, cloud services, and high-resolution services are estimated to boost the market for commercial satellite imaging market in coming years.
Global Commercial Satellite Imaging Market: Trends
The wide use of the commercial satellite is seen in defense and intelligence, natural resource management, conservation and research, geospatial technology, construction and development, energy, disaster response management, and media and entertainment sector. The above-mentioned areas are key applications for the commercial satellite imaging market globally. The growing usability for commercial satellite imaging has a wide scope in the military, agriculture, commercial enterprise, civil engineering industry, forest, energy sector, government, and insurance. These industries have made the best end user base for the commercial imaging satellite to grow profoundly on the global platform.
Global Industrial Automation Market: Geography
As per the geography, the regions covered in the report for commercial satellite imaging market are North America, Europe, Latin America, Asia Pacific, and the Middle East and Africa. Among these, North America is the leading and is estimated to dominate the market in the coming years, due to technological advancements and constant efforts made in research and development. Contribution by NASA and SpaceX in the US, have intensified the space programs. They have also improved and grown the demand for communication, navigation, and spying satellites. Asia Pacific stands at the second position after North America in the global commercial satellite imaging market in the coming years. The increasing need for high investment for research in emerging countries may deter the market to grow and compete at the global level. However, by tailoring the vast untapped opportunity in emerging economies will lead the market to perform in an outstanding manner.
Global Industrial Automation Market: Competition
The global market for commercial satellite imaging has few players dominating in the global market. They are making deliberate measure to strengthen their position in the market by establishing strong distribution channel in the global platform for numerous industries. The prominent players are SkyLab Analytics, Galileo Group Inc., Spaceknow Inc., Planet Labs Inc., Blacksky Global, Telespazio, DigitalGlobe Inc., Trimble Navigation Ltd., and Exelis Inc.
The global Industrial Automation Market has been segmented as follows:
Global Industrial Automation Market, by End-use Industry
- Commercial Enterprises
- Civil Engineering Industry
- Energy Sectors
Global Industrial Automation Market, by Industry
- Geospatial Technology
- Natural Resources Management
- Construction and Development
- Disaster Response Management
- Defense and Intelligence
- Conservation and Research
- Media and Entertainment
Global Industrial Automation Market, by Region
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East and Africa (MEA)
- Saudi Arabia
- South Africa
- Rest of MEA
- Latin America
- Rest of Latin America