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COVID-19 Impact On Commercial Satellite Imaging Market : Which technology is expected to trend higher?

07-30-2020 06:21 PM CET | Media & Telecommunications

Press release from: Allied Market Research

Commercial Satellite Imaging Market

Commercial Satellite Imaging Market

The global commercial satellite imaging market is expected to witness significant growth during the forecast period, owing to increase in security concerns; rise in satellite launches by several countries; deployment of technologies such as remote sensors, LIDAR, and others in satellite imagery. North America is expected to serve as the largest market for commercial satellite imaging by the end of forecast period, due to technologically advanced infrastructure of the region and heavy investment in the defense sector. Key Players | Surrey Satellite Technology, Airbus Defence, Space. The global commercial satellite imaging market is expected to reach $5,256.4 million by 2026, registering a CAGR of 11.2% from 2019 to 2026.

Get detailed COVID-19 impact analysis on the commercial satellite imaging: https://www.alliedmarketresearch.com/request-for-customization/2168?reqfor=covid

The global commercial satellite imaging market was estimated at $2.24 billion in 2018 and is expected to reach $5.25 billion by 2026, growing at a CAGR of 11.2% from 2019-2026. The report offers a detailed analysis of the drivers & opportunities, top investment pockets, top winning strategies, market size & estimations, competitive scenario, and wavering market trends.

Increasing adoption of location-based service (LBS) and rising application of satellite imagery in various sectors fuel the growth of the global commercial satellite imaging market. On the other hand, high resolution of aerial imaging services and various disadvantages of satellite imaging restrain the growth to some extent.

However, decreasing the prices of satellite imaging solutions and high-end technological advancements are expected to create lucrative opportunities in the near future.

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The government segment to dominate by 2026

Based on end-use, the government segment accounted for nearly one-fourth of the total market revenue in 2018 and is expected to dominate throughout the forecast period. The civil engineering and archaeology segment, on the other hand, is projected to showcase the fastest CAGR of 11.7% during the estimated period.

Based on application, the geospatial data acquisition and mapping segment contributed to one-fourth of the total market share in 2018 and is anticipated to lead the trail during 2019-2026. Simultaneously, the surveillance & security segment would cite the fastest CAGR of 11.8% by 2026.

North America to retain its dominance in terms of revenue

Based on geography, North America garnered the lion’s share in 2018, holding two-fifths of the total market. Simultaneously, the Asia-Pacific region would showcase the fastest CAGR of 11.8% throughout the forecast period.

Front runners in the industry The spatial data acquisition and mapping segment to rule the roost

The key players analyzed in the report include European Space Imaging, Galileo Group, Inc., BlackSky Global LLC, Telespazio France, Maxar Technologies Inc., Planet Labs Inc., UrtheCast Corp, Harris Corporation, ImageSat International N.V., and others. These players have incorporated different strategies including expansions, mergers & acquisitions, partnerships, joint ventures, collaborations, and others to brace their stand in the market.

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Driving factors for the market
1. Vital applications in government and defense services
2. Growth in dependence on location-based services

Market Restraints and Opportunities:
1. Availability of aerial imaging services
2. Increase in incorporation of new technologies

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About Us
Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services, and insights on markets across 11 industry verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market domains. We are equipped with skilled analysts and experts, and have a wide experience of working with many Fortune 500 companies and small & medium enterprises.

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