Energy, geospatial technology, construction and development, disaster response management, defense and intelligence, and media and entertainment are some key application areas for commercial satellite imaging solutions.
The global market for commercial satellite imaging, which had an estimated value of US$2.5 bn in 2014, is expected to rise at a CAGR of 11.40% and reach a value of US$6.5 bn by 2023, according to a report titled The Global Commercial Satellite Imaging Market by Transparency Market Research (TMR).
In the report, the analyst commented that this market is dominated by and will continue to be led by Galileo Group Inc., Planet Labs Inc., Blacksky Global, Telespazio, Exelis Inc., DigitalGlobe Inc., SkyLab Analytics, Trimble Navigation Ltd., and Spaceknow Inc. The report goes on to add that these players will look to establish robust distribution channels across various industries in the near future in order to strengthen their position in the global market.
The report goes on to add that the energy, geospatial technology, natural resources management, construction and development, disaster response management, defense and intelligence, conservation and research, and media and entertainment sectors have surfaced as the key application areas for commercial satellite imaging solutions across the world.