Press Release / Technology / Commercial Satellite Imaging Market is Growing Phenomenally By 2023 With A Whooping CAGR

Commercial Satellite Imaging Market is Growing Phenomenally By 2023 With A Whooping CAGR

Market Highlights

Satellite imaging creates a raw image data with the assistance of optical recognizing enabled satellite. When comparing satellite imaging with that of aeronautical satellite, aeronautical satellite provides a higher resolution of image because it is close to the image. Imaging satellite also provides a widespread coverage of the globe, which makes it an effective alternative in imaging solution. With the growing technology, end-users can now easily access the imaging information with the help of satellite imaging. The factors that are responsible for the growth of commercial satellite imaging market are increase in demand for high resolution satellite images for protection and increased use of satellite imaging in various sector. Other factors that are responsible for the growth of this market are advancements in technology and the increased availability of broadband technology.

North America is expected to dominate the commercial satellite imaging market during the forecast period because the Government of North America has provided higher funding for space program and provided strong technology base for the development of satellite imaging. Europe is expected to be the second largest region for the commercial satellite imaging market. In Asia-Pacific, countries such as India, China and Japan is also expected to grow due to the growth in Location-Based Service (LBS) technology. The global commercial satellite imaging market is expected to grow at a CAGR of 11.6 % during the forecast period.

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The major player operating in the market of global commercial satellite imaging are DigitalGlobe International, Inc (Singapore), Galileo Group (U.S.), SpaceKnow, Inc (U.S.), Airbus Defence and Space (France), Harris Corporation (U.S.), Planet Labs, Inc (U.S.), Exelis Inc.,(U.S.), Blacksky Global (U.S.), European Space Imaging GmbH (Germany) and UrtheCast (Canada)

The commercial satellite imaging market is expected to have a market size of USD 6.5 billion by the end of forecast period with CAGR of 11.6 %.

The demand for Commercial Satellite Imaging Market is expected to witness significant growth due to the advancements in satellite imagery technologies such as high-resolution image capturing, low cost sensors, and the development of geospatial information analytics capabilities, across the globe. A robust technological base and high funding by the governments, have gained the commercial satellite imaging market a stronger foothold. Additionally, the government sector utilizes satellite imagery for various purposes such as land mapping, homeland security, environmental research, and mapping transportation network.

The report has been analyzed based on applications, end use industries and by regions of North America, Europe, APAC and Rest of the World. On the basis of applications the market segments are Government, Commercial Enterprises, Military, Forest, Agriculture and others. The defense and intelligence segment accounted for the highest market share in the forecast period. On the basis of end user industries, the segmented as Energy, Geospatial Technology, Construction and Development, Defense and Intelligence and Others. The defense and intelligence segment accounted for the highest market share in the forecast period. In regions, North America is dominating the global commercial satellite imaging market, with the Asia-Pacific region being projected to grow during the forecast period.

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Scope of the Report

This study provides an overview of the global commercial satellite imaging market, tracking two market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global commercial satellite imaging market by its end-use industry, by application, and by region.

By End-Use Industry

Government
Commercial Enterprise
Military
Forest
Agriculture
Others
By Application

Energy
Geospatial Technology
Construction & Development
Defence & Intelligent
Others
By Region

North America
Europe
Asia Pacific
Rest of the World
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