Commercial Satellite Imaging - Global Market Outlook (2019-2027)
発行: Stratistics Market Research Consulting
ページ情報: 英文 133 Pages
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
According to Stratistics MRC, the Global Commercial Satellite Imaging Market is accounted for $2,528.96 million in 2019 and is expected to reach $6,675.65 million by 2027 growing at a CAGR of 12.9% during the forecast period. Increase in security concerns and introduction of new technologies such as GPS satellites, advanced remote sensing technology, high-resolution cameras, light detection & ranging (LIDAR) technology, and electric propulsion technology are some of the factors propelling the growth of the market. However, the availability of aerial imaging services is hindering the growth of the market.
Satellite images are majorly 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. The amalgamation of high-end technologies in commercial satellite imaging has encouraged various industries to deploy the technology to increase their reach. The 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 environmental protection has augmented the adoption of commercial satellite imaging.
Based on the end-user, the military & defense segment is going to have a lucrative growth during the forecast period owing to the security and surveillance applications, which are the core functionalities of any defense organization. In most cases, governments have their satellites orbiting the Earth, performing several operations. Growing defense and military budgets in most of the countries, to develop security programs, are expected to contribute to the growth of the market.
By geography, North America is anticipated to hold considerable market share during the forecast period due to growth in funding in different space programs and an increase in research to achieve a strong base of the technology. The market in the region is expected to expand significantly led by advancements in research and development projects. Due to strong support from the federal government regarding grants to academic institutions and companies, to develop highly advanced satellite imaging devices, the market studied is estimated to expand further in the region.
Some of the key players profiled in the Commercial Satellite Imaging Market include Galileo Group Inc., Blacksky Global, Planet Labs Inc, Telespazio, DigitalGlobe Inc., Exelis Inc., Trimble Navigation Ltd., SkyLab Analytics, and Spaceknow Inc.
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