The global commercial satellite imaging market is anticipated to grow significantly over the forecast period. Satellite imaging entails the creation of raw image data with the help of optical sensing enabled satellite. In comparison to satellite imaging, aeronautical imaging provides higher image resolution since it is closer to the target. Terrestrial imaging offers the highest image resolution and is cost-effective; however, it suffers from geographical limitations. In addition to faster delivery of image data, satellites also offer comprehensive coverage of the globe, thus making them the preferred alternative over other imaging solutions. Furthermore, using imaging services is relatively inexpensive once the satellite is launched into space, which is expected to drive market growth over the next few years.
At the outset, satellite imagery was not accessible to the general public. With the advent of Google Earth, and the proliferation of the Internet and consumer electronics, end users can easily access imaging information. Although services offered by Google are not paid, they account for a considerable percentage of the company’s advertising revenue. Commercial satellite imaging is a crucial component of location-based services (LBS) and is extremely useful in providing emergency response in cases of life-threatening events and natural disasters.
The National Geospatial-Intelligence Agency (NGA)’s EnhancedView program is a ten-year contract worth USD 7.3 billion that involves U.S.-based GeoEye and DigitalGlobe. It is aimed at increasing imagery collection activities and recapitalizing commercial satellite imaging architecture. The majority of these companies’ revenues originate from these government contracts, which is expected to contribute to overall market revenue in the coming years.
The industry is expected to be driven by the growing use of satellite imaging for security purposes, as well as the availability of broadband services to end-users. Advancements in technology, as well as increasing investment, are expected to contribute to product innovation and overall market growth. Although only a few companies own satellites equipped for imaging, a large number of firms offer software or software as a service (SaaS) integration solutions. North America is expected to continue being the largest regional market segment, and it is estimated that high-resolution satellite imaging will contribute largely toward non-military applications. The major industry participants are Google Inc., DigitalGlobe, Inc., GeoEye, Inc., and ImageSat International N.V., etc.
By Grand View Research, this report takes a closer look at the commercial satellite imaging industry, providing a holistic perspective on market dynamics, trends, supply, and demand. The report deep-dives into the market and segments it on multiple levels and provides key insights on a macro as well as micro-level. The study aims at providing granular information, regarding estimates and forecasts for key end-use industries including geospatial imaging, enterprises, and civil engineering among others. The report also provides the same level of information for key regional markets.
This research report analyzes various factors which have been driving and inhibiting the global commercial satellite imaging market in the past. Also, the report analyzes the impact of each driver and restraint on the market growth, which forms the base for the market forecast. The report also showcases the opportunities available in the market which may act as future drivers for the market.
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