Transparency Market Research Report Added "Satellite-Based Earth Observation Market" to its database.
Albany, NY -- (SBWIRE) -- 03/23/2015 -- Satellite-based Earth observation (EO) involves the use of remote-sensing technologies that accrue information on the biological, chemical, and climatic changes that occur across the world. Satellite-based Earth observation lets researchers accurately measure the geophysical parameters of the earth from orbit. The process involves heavy use of highly advanced sensors and cameras.
How Satellite-Based Earth Observation Market Will Change the Way we Work
All the information gathered by satellite-based Earth observation methods is vital in compiling data that can be used to assess and even predict climate changes and cloud movement patterns. It can also be utilized for assessing damage done by tsunamis, floods, earthquakes, and other natural disasters. As for socio-economic progress, satellite-based Earth observation allows scientists to compile data on agriculture and crop cycles, locate water reserves, and also discover hidden petroleum and mineral deposits. Satellite-based Earth observation can thus not only locate resources, but it can also help nations manage their stockpiles. This is the prime reason for the impressive growth in the global satellite-based Earth observation market, with nearly 260 new satellites expected to be launched over the coming decade.
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Technology Drives and Costs Hinder the Global Satellite-based Earth Observation Market
The greatest market driver for satellite-based Earth observation has and will remain technological development. Image-enhancing equipment, including high-res cameras and superior lens constructions, along with the relatively new and continuously advancing remote-sensing technology have all contributed vastly to the growth of the global satellite-based Earth observation market. Nearly 60% of the market is held jointly by the European SPOT Image, along with the American GeoEye and DigitalGlobe. They dominate the market in terms of commercial data sales.
There are still many challenges left for the global satellite-based Earth observation market to conquer. One such challenge is the high initial investment cost required to setup the infrastructure. The satellites often remain isolated from one another, either due to lack of technology or privacy issues. This has created a huge problem of coordination among different databases.
GEOSS to Fill in the Blanks
An organization called Group on Earth Observation Systems of Systems (GEOSS) aims to solve the issue of communication isolation by creating infrastructure that will link the existing as well as future satellites around the world to create a mesh of loophole-free observation standards. In the years to come, a comprehensive directory on the Internet will let all users gain satellite-based Earth observation data from a globally compiled database. The information will be set to flow directly to users across multiple domains.
EO Data Find Increasing Demand across Multiple Domains
A large list of users, including influential businessmen, engineers, fishing companies, mining companies, and surveyors, seek satellite-based Earth observation data in bulk quantities to either conduct research or to determine suitable areas of operation. Many companies are looking to satellite-based Earth observation for the sake of land management, tourism safety and new avenues, real estate management, insurance-related operations, and natural disaster response. Both public and private companies are looking to satellite-based Earth observation for improvements in their decision-making process. One prime consumer for satellite-based Earth observation data is Google Inc., who uses the data for compiling maps and improving their location-based services.
This has created a fruitful market for many top players in the global satellite-based Earth observation market, including Rapid Eye AG, PlanetIQ, ImageSat International, Skybox Imaging Inc., Deimos Imaging SI, and Dettwiler & Associates Ltd.
Many developing countries such as Vietnam and Malaysia are turning to satellite-based Earth observation for improving their native autonomous capabilities. Geographic information systems are also one of the clients most dependent on a regular flow of data from EO firms. The global satellite-based Earth observation market, in conclusion, is set to be a fruitful one, with technological developments paving the way for enhanced capabilities.
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