Satellite-based EO: Key market research findings
- China is the dominant shareholder in the market
- The VAS segment is expected to dominate the market during the forecast period
- Key0 vendors – Airbus Group, DMC International Imaging (DMCii), ImageSat, and MDA
Technavio’s market research analysts predict the satellite-based EO market in APAC to grow at a CAGR of almost 17% between 2016 and 2020. The market is driven by technological advancements in satellite-based imagery. Innovative image-enhancing equipment such as high-resolution cameras and advanced remote-sensing technology have enhanced the quality of satellite-based earth observation (EO) images. These images are used extensively in the defense, science, and research and development (R&D) sectors. During 2015, China dominated the satellite-based EO market in APAC with a revenue of around $326 million. The increase in investments in space programs and rise in the demand for EO data and value-added services (VAS) are likely to boost growth in the satellite-based EO market in China during the forecast period.
The new market research report from Technavio presents a breakdown and analysis of the satellite-based EO segments based on type.
“The latest trend in the market is the increasing implementation of analytics. The adoption of data analytics to provide meaning and structure large volumes of data, especially satellite imagery, is witnessing an upsurge. Companies are tackling the growing need to analyze the data generated by satellites and have initiated efforts to enter the analytics space. For instance, Skybox Imaging (which was acquired by Google in 2014) is launching its fleet of low-Earth orbit (LEO) satellites to provide a new source for big data analysis,” says Rakesh Panda, Lead Analyst, ICT, Technavio Research.
The VAS segment dominated the satellite-based EO market in APAC with a revenue of almost $287 during 2015. The majority of the demand for VAS stems from the defense and government customers. Factors such as the rise in the demand from public authorities for satellite-based data in various applications and the increase in the number of value-added contracts between government organizations and service providers are likely to contribute to the growth of VAS segment of the satellite-based EO market in APAC by 2020.
The key vendors in the satellite-based EO market in APAC include Airbus Group, DMC International Imaging (DMCii), ImageSat, and MDA. This market is moderately competitive owing to the presence of a small number of players. In this market, most EO applications are dominated by government agencies, which prefer to have long-term partnerships with the vendors. Owing to this market’s immense growth potential, many new players will enter the market to take advantage of its numerous growth opportunities.
A more detailed analysis is available in the Technavio report, Satellite-based EO Market in APAC 2016-2020.
We can customize reports by other regions and specific segments upon request.
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