Press release
Commercial Satellite Imaging Market Size, Share | Industry Report,2023
Led by Galileo Group Inc., Planet Labs Inc., Blacksky Global, Telespazio, Exelis Inc., DigitalGlobe Inc., SkyLab Analytics, Trimble Navigation Ltd., and Spaceknow Inc., the global market for commercial satellite imaging demonstrates a highly competitive business landscape, states Transparency Market Research (TMR) in a new research study. These players are likely to remain dominant in this market over the forthcoming years. They are likely to focus more on establishing robust distribution channels across various industries in the near future in order to strengthen their position in the global market, notes the research study.Browse Report Details: https://www.transparencymarketresearch.com/commercial-satellite-imaging-market.html
According to the research report, the overall opportunity in the global commercial satellite imaging market was US$2.5 bn in 2014. Over the period from 2015 to 2023, the market is expected to rise at a CAGR of 11.40% and reach a value of US$6.5 bn by the end of the forecast period. 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, states the research report.
North America to Continue to Dominate
Geographically, Asia Pacific North America, the Middle East and Africa, Europe, and Latin America have emerged as the main regional markets for commercial satellite imaging across the world. North America, among these has taken the leading position and is projected to remain on the top in the near future. Asia Pacific is also expected to witness steady growth in its market for commercial satellite imaging over the next few years, states the research study.
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Technological Advancements to Boost Market's Growth
"Of late, the global market for commercial satellite imaging has been observing a tremendous rise," says a TMR analyst. The emergence of a number of technologies and applications, such as Google Earth, is supporting the growth of this market, tremendously. The continual advancements in technologies is also adding to the rise of this market and is expected to drive the market in the forthcoming years too.
On the flip side, the need for high capital investments in research activities for the advancements of commercial satellite imaging production techniques may act as a restriction to the growth of the global market for commercial satellite imaging in the near future. Nonetheless, the presence of untapped opportunities in emerging economies will normalize the impact of these deterrents in the years to come, states the research report.
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Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
Each TMR syndicated research report covers a different sector - such as pharmaceuticals, chemicals, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, TMR's syndicated reports thrive to provide clients to serve their overall research requirement.
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