Commercial Satellite Imaging Market
Commercial Satellite Imaging Market is expected to garner $5,275 million by 2022, registering a CAGR of 11.5% during the forecast period 2016 - 2022. The commercial satellite imaging market provides geospatial data and information in the form of real-time images, which are utilized across different commercial sectors for various purposes, including environment monitoring & management, security of energy resources, surveillance of border areas, and mapping of constructional projects. Increase in adoption of location-based services (LBS) in various sectors, including defense & intelligence, transportation, telecommunication, manufacturing, e-retailing, and energy supplements the market growth. However, aerial imaging services provide higher resolution images as compared to satellite imagery, which is expected to restrict the growth of the market. Moreover, decrease in price of satellite imaging solutions and technological advancements such as launch of GPS satellites, cloud service, remote sensing technology, and high-resolution cameras are expected to create numerous opportunities for the growth of the commercial satellite imaging market.
The commercial satellite imaging market offers geospatial data which is utilized among various sectors, including government, defense, agriculture, energy, civil engineering, archaeology, real estate, and insurance. Defense sector is one of the prominent end users of the commercial satellite imaging market industry, owing to its varied applications such as mapping of border areas, inspecting rescue operations, and monitoring illegal activities through border areas. Additionally, the government sector utilizes satellite imagery for various purposes such as land mapping, homeland security, environmental research, mapping transportation network, and others. In agriculture and forestry sector, images captured through satellites are used for crop assessment, change detection, irrigated landscape mapping, soils analysis, environmental analysis, and yield determination. Moreover, satellite imagery is also used for energy loss mapping, gas pipeline monitoring, exploration of energy sources, and inspection of power plants in the energy sector.
The prominent players of the commercial satellite imaging market across the globe include DigitalGlobe, Inc., Galileo Group, Inc., Planet Labs, Inc., Spaceknow, Inc., SkyLab Analytics, Harris Corporation, BlackSky Global LLC, ImageSat Inernational N.V, European Space Imaging (EUSI) GmbH, and UrtheCast Corp.
The global commercial satellite imaging market is segmented based on end user, application, and geography. Based on the end user segment, the market is divided into government, defense, forestry & agriculture, energy, civil engineering & archaeology, and others (media & entertainment, insurance, and real estate). Various applications of the market include geospatial data acquisition & mapping, urban planning & development, disaster management, energy & natural resource management, and surveillance & security. Geographically, the market is segmented into North America, Europe, Asia-Pacific, and LAMEA.
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In the year 2015, geospatial data acquisition & mapping application dominated the global commercial satellite imaging market size due to the increase in demand of satellite imagery to collect real-time geographical information in various sectors, including defense & military, government, civil engineering, construction, and others. However, disaster management application segment is expected to grow at the fastest CAGR during the forecast period, owing to the increase in incidents of natural and man-made disasters such as flood, earthquakes, cyclones, fire, hurricanes, border disputes, terrorist attacks, and others.
Global Commercial Satellite Imaging Market: Top Impacting Factors
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Increase in trend of location-based service (LBS)
Real-time geographical data can be captured with the help of LBS through internet capable devices. Satellite imagery is used in LBS for various applications, including shopping services, navigation services, traffic information, and others. In addition, it is used in various equipment providing LBS, such as mobile phones, tracking devices, digital cameras, tablets, and fitness devices. Increase in adoption of mobile devices and LBS highly impacts the growth of commercial satellite imaging market.
Rise in application of satellite imagery in various sectors
The commercial satellite imaging services is adopted across various sectors, including civil engineering & construction, government, defense & intelligence, agriculture & forestry, transportation, real estate, and others. The earth imagery is utilized for varied applications such as topographic mapping, infrastructure planning & construction, exploitation of new energy sources, disaster management, monitoring oil & gas pipelines, green mapping, traffic management, tracking of fleet, and others. Thus, growth in utilization of commercial satellite imagery in various sectors positively impacts the growth of the market.
High-resolution aerial imaging services
Various advantages of aerial imaging over satellite imaging include frequent flying capacity, flexibility in harsh weather conditions, and better clarity & resolution of images. Satellites usually provide 50-cm resolution images, whereas digital aerial cameras can capture images with resolution up to 25mm (2.5cm).
Key Benefits of Commercial Satellite Imaging Market
- The study provides an in-depth analysis of the global commercial satellite imaging market along with current trends and future estimations to elucidate the imminent investment pockets.
- Current and future trends are outlined to determine the overall attractiveness and to single out profitable trends to gain a stronger foothold in the commercial satellite imaging market.
- The report provides information of key drivers, restraints, and opportunities along with their impact analysis of commercial satellite imaging market share across industries.
- Quantitative analysis of the current market and forecast for the period of 2014-2022 is provided to highlight the financial appetency of the commercial satellite imaging industry.
- Porters Five Forces analysis of the commercial satellite imaging industry illustrates the potency of buyers and suppliers that participate in the market.
- Value chain analysis provides a clear understanding on the roles of stakeholders.
Commercial Satellite Imaging Market Key Segments
The commercial satellite imaging market is segmented based on end user, application, and geography.
By End User
- Forestry & agriculture
- Civil engineering & archaeology
- Others (media & entertainment, and insurance)
- Geospatial data acquisition & mapping
- Urban planning & development
- Disaster management
- Energy & natural resource management
- Surveillance & security
- North America
- Rest of Europe
- Rest of Asia-Pacific
- Latin America
- Middle East
Key Market Players Profiled in the Report
- Digital Globe, Inc.
- Galileo Group, Inc.
- Planet Labs, Inc.
- Spaceknow, Inc.
- SkyLab Analytics
- Harris Corporation
- BlackSky Global LLC
- ImageSat Inernational N.V
- European Space Imaging (EUSI) GmbH
- UrtheCast Corp.
Other Market Players Mentioned in The Report
Elecnor SA., Vricon, Inc, Rocket Lab, Surrey Satellite Technology Ltd., MacDonald, Dettwiler and Associates Ltd. (MDA), Airbus Defence and Space, Lockheed Martin Corporation, Space Systems/Loral, LLC, (SSL), SpaceView Inc, Korea Space-image Technology, Ltd., ADCC International East Africa Limited, Aeroquest Mapcon Inc., Antrix Corporation Limited, Beijing Gisuni Information Co. Ltd., Terraserver, Inc., GeoEye, Inc., RapidEye, Inc., Vexcel Corp., Satshot, Inc., PlanetiQ, Inc., NovaWurks, Inc., GlobeXplorer LLC, DMC International Imaging (DMCii), Mapbox, Inc., TSM Corporation, Environmental Systems Research Institute (Esri), Exelis Inc.