The
market for commercial satellite imaging globally is forecast to reach
USD 5,018.6 million by 2019. The market growth is driven by increased
demand for applications such as oil and gas (energy) sector
management and natural resource management. Insurance, real estate
and city planning and fleet management are emerging as potential
commercial applications for satellite imagery market.
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Globally,
this market was valued at USD 2,054.5 million in 2012 and is forecast
to grow at 13.9% CAGR from 2013 - 2019. The data collected by
satellites images has commercial value across industries, including
commercial enterprises, civil engineering, military, forestry &
agriculture, energy sectors and insurance, among others. Global
commercial satellite imaging market in 2012 was dominated by the
military segment, which accounted for 29.2% revenue share. It is due
to quick adoption of this technology by major countries particularly
in the defense sector, where high resolution satellite imagery is
being implemented to develop their security programs and bolster
vigilance systems.
This
technology is mainly used in the energy sector, geospatial
technology, natural resources management, construction &
development, media & entertainment disaster response management,
defense & intelligence and conservation & research among
others. Geospatial technology, energy and natural resource management
are emerging as promising applications for satellite imaging
industry. These three segments together accounted for approximately
41.8% of market revenue share in 2012. Governments purchase
commercial satellite imagery in order to support national security
reconnaissance activities, climate change research, weather
prediction, and land management activities. Growth of the commercial
satellite imagery is driven by increasing demand from defense sector,
predominantly by countries with large imagery intelligence (IMINT)
requirements. Currently, due to rising terrorism concerns, defense
and intelligence departments all over the world are seeking ways to
support their security initiatives using satellite imagery.
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Geographically,
North America is expected to remain largest market for commercial
satellite imagery followed by Europe. North America and Europe
collective had revenue share of 70.7% in 2012. Commercial satellite
imagery market in North America has been world-leading, and is
expected to dominate the global market during the forecast period in
spite of reduction in government funding. Europe is showing slower
growth due to lower economic activity and turbulent budgetary
situation, due to which large finance activities have been withheld
or suspended for short term.
Market
participants include renowned companies such as Digital Globe Inc.,
GeoEye Inc., Astrium Geo, who are currently dominating the market
space. GeoEye and DigitalGlobe represented approximately 65.1% of
commercial satellite imagery market in 2012. New participants are
expected to face stiff competition from existing players, and will
have to focus on service differentiation and quality, so as to
sustain growth in the long run. Other players in the market include
ImageSat International N.V., BlackBridge (RapidEye) and Skybox
Imaging, Inc. among others.
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This
report analyzes the global commercial satellite imaging market in
terms of revenue (USD million). The market has been segmented as
follows:
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Commercial
Satellite Imaging Market, by Industry Vertical:
Government
Commercial
enterprises
Civil
engineering industry
Military
Forestry
and agriculture
Energy
sectors
Insurance
Commercial
Satellite Imaging Market, by Application:
Energy
Geospatial
technology
Natural
resources management
Construction
and development
Disaster
response management
Defense
and intelligence
Conservation
& research
Media
and entertainment
Commercial
Satellite Imaging Market, By Geography:
North
America
Europe
Asia-Pacific
Rest
of the World (RoW)
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