Global Commercial Satellite Imaging Market to Register CAGR of 12.00% from 2014 to 2020
Deerfield Beach, FL -- (SBWIRE) -- 09/29/2017 -- According to the report, global demand for commercial satellite imaging Market was valued at USD 2.6 Billion in 2014 and is expected to generate revenue of USD 5.3 billion by end of 2020, growing at a CAGR of 12.00% between 2015 and 2020. Zion Market Research has published a new report titled "Commercial Satellite Imaging Market For Geospatial Technology, Disaster Response Management, Defense & Intelligence, Construction & Development, Energy, Natural Resources Management, Conservation & Research Application And By End-Users Military, Forest, Government, Commercial Enterprises, Civil Engineering Industry, Agriculture, Energy, And Insurance: Global Industry Perspective, Comprehensive Analysis And Forecast, 2014 – 2020."
Commercial satellite imaging is the process of collecting data in the form of images through the use of a rotating satellite around the earth. Commercial satellite imaging is generally used in agriculture, energy sector, intelligence, conservation, government, commercial enterprises, construction & development, defense and others application. Imaging satellites are operated by governments and few companies around the globe. Satellite imaging company sell images under license and these images are licensed to governments and businesses like Google Maps. Oceanography, fishing, biodiversity, forestry, geology, cartography, regional planning, education, intelligence, and warfare are other key applications of commercial satellite imaging.
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Global satellite imaging market is mainly driven by increasing commercial space economy. Rising demand for high-resolution satellite imagery by the national development organization, services, environmental protection and emergency services is expected to be another key driving factor for commercial satellite imaging market. Stringent government regulations imposed on satellite imaging are expected to hinder market growth in the near future.
Commercial satellite imaging market can be segmented based on application into defense and intelligence, geospatial technology, construction and development, energy, natural resources management and other. Commercial satellite imaging is dominated by defense and intelligence segment in terms of revenue. It accounted for over 30.0% share of the total market in 2014.
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Military, forest, government, commercial enterprises, agriculture, energy, and other are key application of commercial satellite imaging market. In 2014, the government segment dominated the global commercial satellite imaging market and accounted for more than 32% share of the total market. Increasing number of commercial satellites launched by different agencies such as NASA is expected to drive the government application segment.
Based on regional segmentation, North America dominated the global commercial satellite imaging market and accounted for over 42% share of the total market in 2014. North America is expected to grow at a rapid pace due to increasing government financial support in the region. Europe is also expected to experience significant growth of commercial satellite imaging market in the years to come.
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Some of the key players of global commercial satellite imaging market include GeoEye Inc., BlackBridge (RapidEye), Planet Labs, Inc., Space know, Inc., Skybox Imaging, Inc., Trimble Navigation Limited, Digital Globe, Inc., Image Sat International N.V., Astrium Geo, SkyLab Analytics, Telespazio, Google Inc., and Galileo Group.
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