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The Latin America commercial satellite imaging market is expected to witness a considerable growth during the forecast period, due to emerging technologies in satellite imaging technology, which propel its adoption. In addition, increase in foreign investment and upsurge in adoption of satellite imaging technology are anticipated to propel the market growth.
Akshay Jadhav & Divyanshi Tewari
According to a recent report published by Allied Market Research, titled, Latin America Commercial Satellite Imaging Market by End User, Type, and Application: Opportunity Analysis and Industry Forecast, 20172025, the Latin America commercial satellite imaging market was valued at $98.2 million in 2017, and is projected to reach at $237.3 million by 2025, growing at a CAGR of 11.4% from 2018 to 2025.
Commercial satellite imaging refers to obtaining images of Earth and space with the help of satellites. Many private companies offer satellite images of Earth along with processing to analyze them for various purposes, including monitoring & detection of vegetation, habitat, oil pipelines infrastructure construction, generation of digital elevation model (DEM), and exploration of natural resources & archaeological sites.
Foreign investment coupled with government investment in the geospatial industry leads to the rapid growth of the commercial satellite imaging market in Latin America. The development of the geospatial industry in the region is the major factor that drives the growth of the commercial satellite imaging market in Latin America.
The major players operating in the Latin America Commercial satellite imaging market include DigitalGlobe, Inc., Galileo Group, Inc., Threetek, Telespazio, SkyLab Analytics, Harris Corporation, Satellogic, Trimble Navigation Ltd, Airbus, and UrtheCast Corp.
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Latin America Commercial Satellite Imaging Market by End User (Government, Defense, Forestry & Agriculture, Energy, Civil Engineering & Archaeology, and Others), Type (Shortwave Infrared and Visible RGB), and Application (Geospatial Data Acquisition & Mapping, Urban Planning & Development, Disaster Management, Energy & Natural Resource Management, and Surveillance & Security): Opportunity Analysis and Industry Forecast, 2017 - 2025
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