This market research report presents a presents a detailed segmentation of the satellite-based EO market in the US by verticals (defense, weather forecast and meteorological application, LBS, energy, agriculture, mining and oil and gas, insurance, and others). This market study also provides a comprehensive analysis of key market trends, drivers, and challenges that influence market growth. Key vendors in the market include Airbus, DigitalGlobe, MDA, and Planet Labs.
Technavio’s market research analysts estimate the satellite-based earth observation (EO) market in the US to grow at a CAGR of over 9% between 2016 and 2020. The growing application base of EO data and value-added service (VAS) across different verticals is the primary driver for the market. The increased use of satellite-based EO in disaster management and the increased investments made by the government in space programs are also expected to have a positive influence on the satellite-based EO market in the US during the forecast period.
The new market research report from Technavio presents a breakdown and analysis of the satellite-based EO segments by vertical.
“Satellite providers such as Planet Labs and Terra Bella (Skybox Imaging) are launching nanosatellites and microsatellites into space due to the increase in the demand for imaging systems and enhanced computational and communication systems. The benefits in terms of navigation and mapping applications for precise tracking and spotting and the overall better image coverage are encouraging more countries to place smaller satellites as part of the constellation they send into space,” says Rakesh Panda, Lead Analyst, ICT, Technavio Research.
In 2015, the defense vertical contributed majority of the revenue to the market, with a market share of over 36%. The rise in demand for data and VAS from emerging economies is likely to cause an increase in the income generated from this vertical. The growing demand for data to support imagery intelligence and the increase in investments in space programs by the government are expected to boost the defense segment of the satellite-based EO market in the US.
The key vendors in the satellite-based EO market in the US include Airbus, DigitalGlobe, MDA, and Planet Labs. It is a moderately competitive market with the presence of very few suppliers. Most EO applications are dominated by government agencies such as NASA, who prefer to have a long-term partnership with the vendors. Competition in this market is expected to intensify during the forecast period because of the growing demand for satellite-based data and VAS. Also, the market will witness several players entering into the data and VAS segments.
A more detailed analysis is available on the Technavio report, Satellite-based EO Market in the US 2016-2020.
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