Published: June 2018 | Report Code: IM10101 | Available Format: PDF | Pages: 127
Commercial Satellite Imaging Market Overview
The global commercial satellite imaging market was valued at $2,411.8 million in 2017 and is expected to witness a CAGR of 14.2% during 2018–2023. Technological advancement in satellite imaging, growing adoption of location-based services (LBS) by various end users, and surge in the application of satellite imagery in various sectors are the key factors supporting the growth of the market across the globe.
On the basis of application, the commercial satellite imaging market is categorized into defense, natural resources, energy, infrastructure, LBS, maritime, disaster management, and others. Among these, the defense category held the largest market share in 2017. This is attributed to the increasing focus of governments toward the advancement of their defense capabilities and rising terrorism threats across the globe.
GLOBAL COMMERCIAL SATELLITE IMAGING MARKET, BY TECHNOLOGY, $M (2013 - 2023)
On the basis of region, North America held the largest share in the commercial satellite imaging market in 2017, wherein the U.S. was the more significant contributor. The growing adoption of commercial satellite imaging by the defense sector of the U.S. to track terrorism activities across the globe is fueling the demand for it in the country. Also, the high expenditure on the natural resources sector, coupled with the growing geospatial research in the U.S., is expected to drive the growth of the North American market during the forecast period.
Commercial Satellite Imaging Market Dynamics
The surge in the application of satellite imagery in various sectors is one of the key factors driving the growth of the commercial satellite imaging market globally. Satellite imagery is widely being used in various applications, including geospatial data acquisition & mapping, defense & intelligence, energy, construction & infrastructure development, natural resource management, conservation & research, media & entertainment, surveillance & security, and disaster management. Additionally, earth imagery is vital in various applications, including infrastructure planning & construction, exploitation of new energy sources, disaster management, green mapping, traffic management, and topographical mapping. Moreover, with the increasing demand for high-resolution satellite imagery in emergency services, homeland security, defense, and environmental protection, for crime mapping, crop forecasting, and data evaluation, commercial satellite imaging is anticipated to witness a boost in demand during the forecast period.
Alternative technologies to commercial satellite imaging, such as aerial imaging services, are likely to hinder the growth of the market, globally. Aerial imaging services offer various advantages, including better clarity and resolution of images, frequent flying capacity, and the capability to work in severe weather conditions, over commercial satellite imaging. Additionally, digital aerial cameras can capture images with better resolution as compared to satellite imaging.
Innovative developments in technologies are offering immense growth opportunities for the players in the commercial satellite imaging market, worldwide. For instance, next-generation GPS satellites, high-resolution cameras, light detection and ranging (LIDAR) technology, and remote sensing technologies help observe, record, and perceive objects or events from remote locations. In addition, remote sensors gather critical information by measuring the electromagnetic radiation, which is reflected, emitted, and absorbed by objects in various spectral regions. This helps in studying the environment from a distance using techniques, such as satellite imaging, aerial photography, and radar.
Commercial Satellite Imaging Market Competitive Landscape
The intensity of rivalry in the commercial satellite imaging market is moderate. Key market players are focusing on mergers & acquisitions, partnerships, and service launches to expand their market foothold. In the recent past, partnerships and acquisitions have been the major activities in the market across the globe. For instance, in April 2018, Esri announced its agreement with Alibaba Cloud, which will enable both organizations to address the needs of customers regarding location intelligence in cloud infrastructure. With the interoperability of the two organizations, applications requiring scalable computing, storage, and networking capabilities will be assisted.
Furthermore, in February 2017, Planet Labs Inc., a provider of earth imaging, announced plans to acquire Terra Bella, a business of Google which provides commercial high-resolution earth observation satellite imagery.. The acquisition aimed at serving new customers and achieving substantial growth in the commercial satellite imaging market, globally.
Some of the key players operating in the global commercial satellite imaging market are DigitalGlobe Inc., Galileo Group Inc., Spaceknow Inc., Environmental Systems Research Institute, and Airbus Defence and Space.
Key Questions Addressed/Answered in the Report
Our dedication to providing the most-accurate market information has earned us verification by Dun & Bradstreet (D&B). We strive for quality checking of the highest level to enable data-driven decision making for you
Our insights into the minutest levels of the markets, including the latest trends and competitive landscape, give you all the answers you need to take your business to new heights
With 24/7 research support, we ensure that the wheels of your business never stop turning. Don’t let time stand in your way. Get all your queries answered with a simple phone call or email, as and when required
We take a cautious approach to protecting your personal and confidential information. Trust is the strongest bond that connects us and our clients, and trust we build by complying with all international and domestic data protection and privacy laws