Global Commercial Satellite Imaging Market Will Reach to USD 8.27 Billion By 2025: Zion Market Research

According to the report, the global commercial satellite imaging market was around USD 3.96 billion in 2018 and is expected to reach approximately USD 8.27 billion by 2025, at a CAGR of slightly above 11.29% between 2019 and 2025.

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New York, NY, Aug. 07, 2019 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Commercial Satellite Imaging Market By End-User (Government, Defense, Forestry & Agriculture, Energy, Civil Engineering & Archaeology, Commercial Enterprises, and Others) and By Application (Geospatial Data Acquisition & Mapping, Urban Planning & Development, Disaster Management, Energy & Natural Resource Management, Surveillance & Security, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025’’. According to the report, the global commercial satellite imaging market was around USD 3.96 billion in 2018 and is expected to reach approximately USD 8.27 billion by 2025, at a CAGR of slightly above 11.29% between 2019 and 2025.

Commercial satellite imaging is a method that helps in obtaining real-time images by scanning Earth or other planets via a satellite. The global commercial satellite imaging market is gaining traction owing to rising commercial satellite imaging adoption in numerous applications, such as meteorology, fishing, forestry, agriculture, and warfare. Commercial satellite imaging is becoming a necessity to gather critical information and study the market for effective and efficient resource management.

Browse through 37 Tables & 27 Figures spread over 126 Pages and in-depth TOC on “Global Commercial Satellite Imaging Market Size 2018: Industry Share, Growth, Applications, Analysis and Forecast, 2025”.

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The rising adoption of location-based services (LBS) in defense and intelligence, energy, e-retailing, manufacturing, transportation, and telecommunication sectors is driving the commercial satellite imaging market growth. Moreover, the introduction of Google Earth, increasing the use of consumer electronics, and substantial technological advancements are other factors supporting the commercial satellite imaging market globally. However, aerial imaging captures high-resolution images as compared to satellite imaging, which may hamper the commercial satellite imaging market.

The global commercial satellite imaging market is fragmented on the basis of end-user and application. The end-user segment includes government, forestry and agriculture, commercial enterprises, civil engineering and archaeology, energy, defense, and others. The defense segment is anticipated to grow rapidly in the years ahead, owing to the rising security and surveillance needs to protect countries from disasters. The changing government rules and regulations are further likely to increase the demand for satellite imaging by the defense segment. The images obtained by satellite are used to plan, analyze, and study the operations in various aspects. Furthermore, the forestry and agriculture segment is anticipated to grow substantially, owing to rapid climate changes globally. Forest officials use satellite images to monitor soil conditions, ecosystems, water resources, deforestation, and species diversity. On the basis of application, the disaster management segment is anticipated to grow in the future owing to the rising prevalence of natural disasters like floods, cyclones, terrorist attacks, etc.

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The North American commercial satellite imaging market is expected to witness noticeable growth in the upcoming years, owing to the rising adoption of satellite imaging by the U.S. government. These satellites are used by the military and defense sector to track terrorist activities along with being used in disaster management, to monitor and avoid disastrous incidents. The U.S. is projected to dominate this region, owing to the rising focus of the country’s government’s on equipment and owning state-of-the-art technology to analyze geographic information environmental studies, urban and rural planning, and real estate evaluation. Computer-aided mass appraisal (CAMA) is a satellite imaging process that compares a user’s requirements with the available data and displays appropriate matches. All these benefits and developments are contributing to the commercial satellite imaging market in North America.

The UK government has taken the initiative to provide satellite imaging data to the public sector to monitor plastic pollution and support the electric vehicle market. Moreover, the automotive sector is one of the leading sectors in Germany and it utilizes commercial satellite imaging in different applications, such as traffic flow management, noise pollution, road planning, and estimation of air pollution. Thus, rapid innovations and strong public services in European countries are expected to accelerate the commercial satellite imaging market in Europe.

Browse the full “Commercial Satellite Imaging Market By End-User (Government, Defense, Forestry & Agriculture, Energy, Civil Engineering & Archaeology, Commercial Enterprises, and Others) and By Application (Geospatial Data Acquisition & Mapping, Urban Planning & Development, Disaster Management, Energy & Natural Resource Management, Surveillance & Security, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025” Report at https://www.zionmarketresearch.com/report/commercial-satellite-imaging-market

The Asia Pacific commercial satellite imaging market is anticipated to grow considerably, owing to rapid technological advancements, the presence of growing economies, increasing number of internet users, and rising adoption of satellite imagery by the regional governments. Additionally, satellite imaging is used in oil and gas production in Japan, as it leads to accurate tracking and obtaining a highly detailed product image. This technology uses high-resolution images for detecting oil spills or gas pipelines leaks.

Space Imaging Middle East (SIME) is the leading geospatial and GIS solution provider in the entire Middle East. The major breakthrough for SIME was when it used this technology to monitor the regional production of illicit crops. Moreover, in South Africa, commercial satellite imaging is used to monitor crop production. Constant soil inspection, tracking moisture level, soil texture, and nutrients are key applications of satellite imaging in crop monitoring. These factors are estimated to propel the commercial satellite imaging market in the Middle East and Africa.

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Some noticeable players of the global commercial satellite imaging market are DigitalGlobe, Planet Labs, Spaceknow, Harris Corporation, BlackSky Global, Galileo Group, ImageSat International, UrtheCast, European Space Imaging, and SkyLab Analytics.

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This report segments the global commercial satellite imaging market into:

Global Commercial Satellite Imaging Market: By End-User

  • Government
  • Defense
  • Forestry and Agriculture
  • Energy
  • Civil Engineering and Archaeology
  • Commercial Enterprises
  • Others

Global Commercial Satellite Imaging Market: By Application

  • Geospatial Data Acquisition and Mapping
  • Urban Planning and Development
  • Disaster Management
  • Energy and Natural Resource Management
  • Surveillance and Security
  • Others

Global Commercial Satellite Imaging Market: By Region

  • North America
    • The U.S.
  • Europe
    • UK
    • France
    • Germany
  • Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
  • The Middle East and Africa

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