Published: Apr, 2018

The global market for commercial satellite imaging market is expected to witness robust growth over the coming years, as reported by Transparency Market Research (TMR). Currently the market is characterized by intense yet healthy competition among vendors. It is also witnessing entry of new players every now and then. Prominent names in the global commercial satellite imaging market are Exelis Inc., Galileo Group Inc., SkyLab Analytics, and SkyLab Analytics. Some noteworthy new players in the market are Dauria Aerospace, Planet Labs Inc. and PlanetiQ.

TMR’s estimated the global commercial satellite imaging market to be around US$2.5 bn in 2014. With a solid 11.4% CAGR over the forecast duration from 2015 to 2023, the market is envisaged to reach US$6.5 bn by 2023.

commercial-satellite-imaging-market

Regionally, North America is expected to emerge as the leading segment, as it held nearly 45% of the global revenue in 2014.

The commercial satellite imaging market renders geospatial data which is used by various sectors, including the defense, government, agriculture, engineering, energy, archaeology, insurance and real estate. Among these end uses, the defense sector is likely to emerge as one of the most significant on account of its varied applications such as monitoring illegal activities across borders, mapping border areas, and carrying out rescue operations. This is one of the most prominent end-use sectors propelling the global market for commercial satellite imaging.

Research Activities and Commercial Space Economy Boosts Market Opportunity

Initially, satellite imagery was not accessible to the masses. With the emergence of technology such as Google Earth, the increased proliferation of consumer electronics and the internet, consumers are now have greater access to data imaging. While Google map services are not paid for by users, they do account for a substantial percentage of the company’s revenue received from advertising. The commercialization of satellite imaging is a crucial  part of location based services (LBS), and is proving to be extremely useful in cases of emergency such as natural disasters and life-threatening events.

The on-going advancements in technology with the growing investments in the area are also contributing to product innovation and overall growth of the market. While currently only a few companies own satellites equipped for imaging, an increasing number of enterprises offer software or software as a service (SaaS) solutions – all of which are providing bountiful growth opportunities for the satellite imaging market over the globe.

Agriculture Sector to Present New Growth Avenues

The advances in agriculture management technologies is resulting in the rapid uptake of precision agriculture techniques. Thereby, the data regarding in-field crop yield, and its variability is gaining traction, further fuelling the global satellite imaging market.

Moreover, decrease in price of satellite imaging solutions and technological advancements such as launch of GPS satellites, cloud service, remote sensing technology, and high-resolution cameras are expected to create numerous opportunities for the growth of the commercial satellite imaging market.

This review is based TMR’s report titled, “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 2015 - 2023.”

The market is segmented along the following lines:

Commercial Satellite Imaging Market ,By End-use Industry

  • Government
  • Commercial Enterprises
  • Civil Engineering Industry
  • Military
  • Forest
  • Agriculture
  • Energy Sectors
  • Insurance

Commercial Satellite Imaging Market, By Applications

  • Energy
  • Geospatial Technology
  • Natural Resources Management
  • Construction and Development
  • Disaster Response Management
  • Defense and Intelligence
  • Conservation and Research
  • Media and Entertainment

Commercial Satellite Imaging Market, By Region

  • North America (NA)
  • Europe (EU)
  • Asia Pacific (APAC)
  • Middle East & Africa (MEA)
  • Latin America (LATAM)

About Us

Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.

Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through adhoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.

TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision.

U.S. Office Contact

90 State Street, Suite 700

Albany, NY 12207

Tel: +1-518-618-1030

USA - Canada Toll Free: 866-552-3453

Email: sales@transparencymarketresearch.com

Website: https://www.transparencymarketresearch.com