Commercial Satellite Imaging Market Scope
Commercial Satellite Imaging is basically the collection of the information in the form of image with the help of the satellite which are operated either by government or related companies. These satellites images are useful for government in defense sector and also for other business sectors where mapping is becoming essential now-a-days. Moreover, location based application and services are gaining popularity in the market and also increasing convenience of the audience. Government are taking initiatives and providing extra funds for such satellite launch as these mapping solutions are useful for government in plenty of sectors.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Billion) |
Key Companies Profiled | Digital Globe, Inc. (United States), Galileo Group, Inc. (United States), Planet Labs, Inc. (United States), Spaceknow, Inc. (United States), SkyLab Analytics (United Kingdom), Harris Corporation (United States), BlackSky Global LLC (United States), ImageSat Inernational N.V (Israel), European Space Imaging (EUSI) GmbH (Germany) and UrtheCast Corp. (Canada) |
CAGR | 4.3% |
"According to AMA, the Global Commercial Satellite Imaging market is expected to see growth rate of 4.3% and may see market size of USD5.2 Billion by 2030."The demand for Commercial Satellite Imaging is increasing with each passing day. The businesses in this industry facing major competition from leading players in the market. Many international as well as regional providers are also participants in the industry and directly compete with leaders. It has been identified that market-leading players are investing heavily in growth strategies such as technological development, and resource utilization to enhance their market position. The market leaders such as Digital Globe, Inc, Galileo Group, Inc., SkyLab Analytics, and Harris Corporation demonstrate a market-defining vision of how Commercial Satellite Imaging can help top-line business executives achieve their business objectives. Leaders have the ability to execute against that vision through both products and services. They have demonstrated solid business results in the form of revenue and earnings. Research Analyst at AMA estimates that United States Manufacturers will contribute to the maximum growth of Global Commercial Satellite Imaging market throughout the predicted period.
Digital Globe, Inc. (United States), Galileo Group, Inc. (United States), Planet Labs, Inc. (United States), Spaceknow, Inc. (United States), SkyLab Analytics (United Kingdom), Harris Corporation (United States), BlackSky Global LLC (United States), ImageSat Inernational N.V (Israel), European Space Imaging (EUSI) GmbH (Germany) and UrtheCast Corp. (Canada) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research are Elecnor SA. (Spain), Vricon, Inc (United States), Rocket Lab (United States) and Surrey Satellite Technology Ltd (United Kingdom).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Commercial Satellite Imaging market by Type , by Application (Surveillance & security, Disaster management, Geospatial data acquisition and mapping, Urban planning & development, Energy & natural resource management, Media and Entertainment and Defense and Intelligence) and Region with country level break-up.
On the basis of geography, the market of Commercial Satellite Imaging has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2023.
Market Leaders and their expansionary development strategies
In November 2021-Planet, a major provider of daily Earth data and insights announced the acquisition of VanderSat, a leading provider of advanced earth data and analytics. Vandersat's cutting-edge technologies assist customers in major markets in better evaluating and understanding water management and crop health. Planet plans to use VanderSat's technologies and products to help enterprises, non-profits, and governments all across the world bring next-generation solutions to market that combine the best of commercial and public satellite data to give clear and actionable information.
In February 2020 - The Air Force Life Cycle Management Centre partnered with L3Harris Technologies for a multimillion-dollar contract to develop a software platform, which may make it easier for analysts to use artificial intelligence (AI) to identify objects in large data sets, thus, addressing urgent defense need for automation to analyze large geospatial data sets.
Influencing Trend:
Increasing investments for making extra technological advancements and Increment in number of mobile applications and games that are based on location of the individual
Market Growth Drivers:
Increasing applicability in various sectors and Favorable Government initiatives and funding
Restraints:
High initial cost of satellite setup and Complexity in offering high resolution
Opportunities:
Continuously growing trend of location based services and Growing attraction for low priced mapping solutions
Key Target Audience
Manufacturers, Subsystem Manufacturers, Technology Support Providers, Ministry of Defense, Scientific Research Centers and Software/Hardware/Service and Solution Providers