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Global Commercial Satellite Imaging Market is estimated to witness a CAGR of more than 12% during the forecast period 2018-2023.Market Overview:
The major trends witnessed in the global commercial satellite imaging market include hyper-spectral image processing for automatic target identification purposes. Most of the military applications involve detecting objects, such as tracking movement of vehicles, with the help of hyper-spectral image processing. Moreover, hyper-spectral image sensors provide image data encompassing both spatial and spectral information. In addition, it can be used to detect various activities, including military activities. Moreover, development in high resolution satellite imagery, for applications in data related sectors such as agriculture and natural resource managing, is also a factor supporting the growth of global commercial satellite imaging market.
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Geospatial information acquisition & mapping has been the largest commercial satellite imaging market across the globe. In addition, commercial enterprise has been the major end-user of commercial satellite imaging market. In addition, it includes providers of map related services such as Apple Maps and Google Maps.
Global commercial satellite imaging market is driven by factors such as technological development in satellite imaging in addition, application of satellite imagery in various sectors and growing demand of location-based services (LBS) sector. Satellite imaging is used in LBS for different applications, such as navigation, local search, consumer tracking, enterprise services, location-based business intelligence (BI), location-specific health information, etc.
The global commercial satellite imaging market is growing with the rapid pace. According to a recent study report published by the Market Research Future, the global market of commercial satellite imaging market will grow at a rapid pace over the forecast period. The market is forecasted to witness slow but steady growth by 2024, which will be a surplus growth at a moderate CAGR during the projected period (2018 -2024).
The intensity of rivalry in the global commercial satellite imaging market is at lesser as compared to last couple of years. Majority of the vendors in the global commercial satellite imagery market are aggressively focusing on their business growth by implementing organic and inorganic growth strategies. Presently, the global market is heading towards merging by witnessing major partnership, and acquirements among major companies. For example, Digital Globe lately announced its partnership with Esri and Harris Corporation, the providers of advance geospatial information.
Segmentation:
The global commercial satellite imaging market is segmented in to 4 key dynamics for the convenience of the report and enhanced understanding;
• Segmentation by Application: Geospatial Data Acquisition & Mapping, Defence & Intelligence, Energy, Construction & Development, Surveillance & Security, Disaster Management and others.
• Segmentation by End-Users: Commercial and Defence
• Segmentation by Type: Small (Nano, Pico, Micro), Middle, and Large.
• Segmentation by Regions: Comprises Geographical regions - North America, Europe, Asia-Pacific, Middle East & Africa and South America.
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Key Players:
• DigitalGlobe
• Galileo Group Inc
• SpaceKnow
• Airbus
• Harris Corporation
• Planet Labs, Inc
• Exelis Inc
• Blacksky
• European Space Imaging
• UrtheCast
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