The global commercial satellite imaging market was valued at around USD 3 billion in 2016 and is projected to surpass USD 5 billion by 2021, says Technavio.
Technavio has announced its latest market research report on the global commercial satellite imaging market, under its space portfolio. This market analysis enlists the major drivers and key emerging trends and offers an assessment of key vendors like DigitalGlobe, DMCii, ImageSat International, and Planet Labs.
According to Avimanyu Basu, a lead analyst for space research at Technavio, “The increasing demand for earth observation imaging systems is driving the growth in the commercial satellite imaging market. The growing use of advanced remote-sensing technology and advanced image-enhancing equipment such as high-resolution cameras is improving the quality of satellite-based EO images. Additionally, these systems are designed to provide all the users with a single internet access point to obtain EO data from both existing databases and the new up-to-date portals.”
The increasing application of this technology in the areas of insurance, tourism, land management, natural disaster response, and real estate will boost the sales of these satellites in the global market. Various leading vendors like Google are demanding for EO data for using it in mapping and location-based services. Furthermore, these data are extensively used by defense agencies, science institutions, research and development organizations, and private users.
Click here to request a free sample of this report
Advanced satellite imaging applications
The introduction of new-generation, cost-effective, and broadband interactive services devices will revolutionize the commercial satellite imaging systems market. The advanced satellite imaging technologies and rapid progress in the field of information technology are enabling leading several vendors to provide video services with satellite images. The new video service called Timelapse launched by Google Earth Engine can track the geological changes across the globe over the past 30 years.
Satellite imaging in disaster management
The governing bodies across every country use information derived from commercial satellites for disaster management services. The EO satellites transmit data in the form of images, which are analyzed by scientists and meteorologists. The data collected by these devices help the concerned agencies formulate opinions during disasters. The information from the data helps the disaster relief teams devise better strategies for the provision of relief, and help nations prepare for disasters effectively.
Ask an analyst to know more about this report
This research report incorporates an in-depth analysis and market shares and sizes of the sub-segments and geography. An analysis of the leading companies, including their market shares, business overview, key financials, etc. is provided in this study. This market study also offers a detailed analysis of key drivers, challenges, and opportunities influencing this market.
A more detailed study is obtainable in the Technavio report titled, ‘Global Commercial Satellite Imaging Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Satellite Manufacturing and Launch Market 2016-2020
- Global Satellite Ground Station Equipment Market 2016-2020
- Global Satellite-Based Augmentation Systems 2016-2020
To read more press releases – click here
