The Global Market for Satellite Remote Sensing Services is Projected to Reach US$2.6 Billion by 2020

Exploitation of Satellite Image Data in an Expanding Array of Fields Drives Demand for Satellite Remote Sensing Services, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Satellite Remote Sensing market. The global market for Satellite Remote Sensing Services is projected to reach US$2.6 billion by 2020, driven by the successful exploitation of satellite image data in a wide range of fields such as business, mining, disaster mitigation planning and recovery, weather forecasting and environmental protection, among others.   

Satellite remote sensing is a space-borne remote sensing model carried out through remote sensing instruments equipped in earth observation satellites orbiting around the earth. Satellite remote sensing platforms integrating low, medium, high, and very-high resolution instruments generate imagery pertaining to weather patterns, natural resources, carbon monitoring, vegetation and land use patterns, and disaster impact assessment in the form of digital images. The recent technological developments have considerably improved the imagery capability of satellite remote sensing platforms. The global market for commercial satellite remote sensing services is benefiting from increased emphasis on earth observation, which focuses on imaging the physical, biological, and chemical attributes of Earth for use in a multitude of end-use applications and scenarios. The rising importance of geospatial data in generating vital inputs for identifying and monitoring land, oceanic, and atmospheric environments is especially widening the scope and span of satellite remote sensing services at the global level.

A key trend in the market is the proliferation of micro satellites or small satellites, which can potentially deliver access to high-quality imagery at much cheaper prices and in a more convenient manner than conventional satellites. The momentum in the micro satellites space is driven by start-up companies such as Skybox Imaging, Planet Labs, and UrtheCast, which have received market approval for their respective micro satellites. The government sector constitutes a key end-use market, given the fact that government agencies and departments rely on satellite imagery for use in record management, administration, development and conservation projects. The demand for satellite imagery in the government sector remains strong for weather predictions & forecasting, disaster management support, agricultural & land management programs, natural resources monitoring & conservation, land use & forest mapping, and rural & urban development applications. Use of satellite imagery is also gaining traction in private sector environments, especially in the oil & gas sector, mining & minerals, utilities & gas distribution, insurance sector, and farming community among others.

As stated by the new market research report on Satellite Remote Sensing, The United States represents the largest market worldwide. Asia-Pacific ranks as the fastest growing market with a CAGR of 8.6% over the analysis period. The growth in the region is driven by the growing R&D investments in remote sensing research and increased interest in satellite remote sensing for assessment of atmospheric pollution and air quality in heavily polluted Southeast Asian countries such as China, Taiwan, India and South Korea.

Major players covered in the report include AABSyS IT Pvt. Ltd., Airbus Defence and Space, Antrix Corporation Limited, Auracle Geospatial Science, DigitalGlobe, ImageSat International N.V., Planet Labs Inc., Remote Sensing Solutions Inc., Satellite Imaging Corporation (SIC), Skybox Imaging, and UrtheCast among others.

The research report titled “Satellite Remote Sensing: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities of global companies. The report provides market estimates and projections for Satellite Remote Sensing Services in US$ terms for all major geographic markets such as the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain and Rest of Europe), Asia-Pacific, Latin America and Rest of World.

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