Commercial Satellite Imaging Market Prognosticated To Escalate With a Staggering CAGR :
Pune, India, April, 2018/MRFR Press Release/- Market Research Future published a Half Cooked research report on “Global Commercial Satellite Imaging Market Research Report - Forecast to 2024” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2024.
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Commercial Satellite Imaging Market – Overview
The global commercial satellite imaging market is growing with the rapid pace. According to a recent study report published by the Market Research Future, The global market of commercial satellite imaging market will grow at a rapid pace over the forecast period. The market is forecasted to witness slow but steady growth by 2024, which will be a surplus growth at a moderate CAGR during the projected period (2018 -2024).
Commercial satellite imaging, well known as remote sensing, denotes the scanning of earth by satellite or high-flying aircraft to obtain geo-referenced information. The market for commercial satellite imaging is gaining attention with the growing requirement for disruptive satellite imagery data analytics by businesses throughout industries. It needs critical information and market understanding about various geospatial and environment conditions for efficient resource supervision.
Geospatial information acquisition & mapping has been the largest commercial satellite imaging market across the globe. In addition, commercial platform has been the major customer of commercial satellite imaging market. It include providers of map created services such as Apple Maps, and Google Maps.
The major trends witnessed in the global commercial satellite imaging market include hyper-spectral processing image for automatic target recognition. Most of the military applications are involve in identifying objects such as a movement of vehicle tracking with the help of hyper-spectral processing image. Moreover, the use of hyper-spectral picture sensors provide image data, encompassing both spatial and spectral information. In addition, it can be reduced to detect various activities as military activities. Moreover, development in high resolution satellite imagery for applications in data related sectors such as agriculture and natural resource managing, is also a factor considerably supporting to the growth of global commercial satellite imaging market.
Global commercial satellite imaging market is driven by factors such as technological development in satellite imaging in addition, application of satellite imagery in various sectors and growing demand of location-based services (LBS) sector. Satellite imaging is used in LBS for different applications, such as navigation, local search, consumer tracking, enterprise services, location-based business intelligence (BI), location-specific health information, etc.
The intensity of rivalry in the global commercial satellite imaging market is at lesser as compared to last couple of years. Majority of the vendors in the global commercial satellite imagery market are aggressively focusing on their business growth by implementing organic and inorganic growth strategies. Presently, the global market is heading towards merging by witnessing major partnership, and acquirements among major companies. For example, DigitalGlobe lately announced its partnership with Esri and Harris Corporation, the providers of advance geospatial information.
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Industry/ Innovation/ Related News:
October 2017 – DigitalGlobe migrated its total 100-petabyte imagery library to Amazon Web Services (AWS). The acquisition is intended at building machine learning models that extract data from satellite imagery library, in demand to provide detailed business insights to their customers.
October 2017 – DigitalGlobe was acquired by Maxar Technologies. This acquisition is aimed at leveraging Maxar’s expanded revenue base, core businesses, and enlarge opportunities for the future growth.
Commercial Satellite Imaging Market – Segmentation
The global commercial satellite imaging market is segmented in to 4 key dynamics for the convenience of the report and enhanced understanding;
Segmentation by Application : Geospatial Data Acquisition & Mapping, Defence & Intelligence, Energy, Construction & Development, Surveillance & Security, Disaster Management and others.
Segmentation by End-Users : Commercial and Defence
Segmentation by Type : Small (Nano, Pico, Micro), Middle, and Large.
Segmentation by Regions : Comprises Geographical regions - North America, Europe, Asia-Pacific, Middle East & Africa and South America.
DigitalGlobe (U.S.), Galileo Group (U.S.), SpaceKnow (U.S.), Airbus (France), Harris Corporation (U.S.), Planet Labs, Inc. (U.S.), Exelis Inc. (U.S.), Blacksky (U.S.), European Space Imaging (Germany), UrtheCast (Canada) and others are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the global commercial satellite imaging market.