IMARC Group’s latest report, titled “Commercial Satellite Imaging Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” finds that the global commercial satellite imaging market exhibited strong growth during 2015-2020. Commercial satellite imaging refers to a tool employed for visualizing ground conditions via high-resolution images and datasets. It offers comprehensive data and clear images that find extensive applications in engineering, infrastructure, simulation, disaster recovery, precision agriculture, telecommunications, watershed management and forestry. Moreover, it provides a base to start projects for regional studies, mapping widespread trends, and media and publication. Nowadays, leading players are launching commercial satellite imaging that can detect ground conditions at night using radar imagery to deliver reliable monitoring capabilities to civil and defense organizations across the globe.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Commercial Satellite Imaging Market Trends:
The rising concerns regarding climate change, environmental degradation and disaster monitoring represents the primary factor driving the global market. Apart from this, with the growing security concerns and geopolitical tensions between countries, governments of various nations are expanding their overall defense budget. Due to this, they are rapidly employing commercial satellite imaging to acquire information that will help strengthen defense operations and security services. Additionally, commercial satellite imaging provides critical data on the biological, physical and chemical properties of the planet that is widely used by scientists, researchers and companies to develop innovative products. Besides this, the introduction of advanced technologies, including high-resolution cameras, remote sensing, and electric propulsion, have enhanced image quality. Furthermore, commercial satellite imaging technology is integrated with rapid acquisition to deliver image data quickly and support live monitoring of events. This, in confluence with the rising usage of artificial intelligence (AI) and cloud infrastructure, is creating a positive market outlook. On account of these factors, IMARC Group expects the market to grow at a CAGR of around 12% during the forecast period (2021-2026).
- Based on technology, the market has been bifurcated into optical and radar.
- On the basis of the application, the market has been classified into geospatial data acquisition and mapping, urban planning and development, disaster management, energy and natural resource management, surveillance and security, defense and intelligence, and others.
- Based on the end user, the market has been segregated into government, military defense, forestry and agriculture, energy, civil engineering and archaeology, transportation and logistics, and others.
- Region-wise, the market has been segmented into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the market has also been analyzed, with some of the key players being Airbus S.A.S., BlackSky Technology Inc., EarthDaily Analytics (UrtheCast Corp.), European Space Imaging GmbH, Galileo Group Inc, L3Harris Technologies Inc., Maxar Technologies Inc., Planet Labs Inc., Skylab Analytics and SpaceKnow Inc.
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