Commercial Satellite Imaging Market Can Touch Approximately US$ 9.6 billion | Growth With Recent Trends & Demand

Rise in utilization of satellite imagery in government and defense sectors drive the growth of the global commercial satellite imaging market. Increase in applications of satellite imaging services such as geospatial mapping, disaster mapping, urban planning, and energy management is expected to drive the growth of the commercial satellite imaging market.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 𝐍𝐨𝐰: https://www.alliedmarketresearch.com/request-sample/1751

The global commercial satellite imaging market size was valued at $3.3 billion in 2022, and is projected to reach $9.6 billion by 2032, growing at a CAGR of 11.5% from 2023 to 2032.

Multispectral imagery offered by satellites for various applications such as wetland mapping, vegetation analysis, and examination of soil features has increased the adoption of satellite imaging in the agriculture sector. For instance, in June 2021, HEAD Aerospace signed an agreement with UP42 to enhance image data from more than 40 innovative Chinese Earth Observation satellites available on the UP42 business. In addition, imagery in 25 spectral bands crossing the visible, near infrared, and mid-infrared helping of the spectrum is ideal for regional natural resource management such as detection crop stress and development pesticide/fertilizer applications, types of mapping of forests and vegetative land cover, and protecting environmentally sensitive zones. This data can also be utilized in agriculture monitoring, mineral exploration, and water quality monitoring. A comprehensive commercial satellite imaging market analysis is essential for businesses to identify growth opportunities and develop effective strategies.

𝐓𝐡𝐞 𝐤𝐞𝐲 𝐩𝐥𝐚𝐲𝐞𝐫𝐬 𝐩𝐫𝐨𝐟𝐢𝐥𝐞𝐝 𝐢𝐧 𝐭𝐡𝐢𝐬 𝐫𝐞𝐩𝐨𝐫𝐭 𝐢𝐧𝐜𝐥𝐮𝐝𝐞

URTHECAST CORP, IMAGESAT INTERNATIONAL N.V, SPACEKNOW, BLACKSKY GLOBAL LLC, HARRIS CORPORATION, EUROPEAN SPACE IMAGING, GALILEO GROUP, INC, TELESPAZIO FRANCE, PLANET LABS INC, MAXAR TECHNOLOGIES INC

Advantages such as precise mapping for mission planning, search, and rescue operations and rise in utilization of satellite imagery in government and defense sectors drive the growth of the global commercial satellite imaging market. Moreover, the introduction of new technologies such as electric propulsion technology, high-resolution cameras, advanced remote sensing technology, and others supplements the market.

𝐁𝐮𝐲 𝐍𝐨𝐰 𝐭𝐡𝐞 𝐄𝐱𝐜𝐥𝐮𝐬𝐢𝐯𝐞 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.alliedmarketresearch.com/checkout-final/de7d7a1bfb38d8f755dedf6e3871ca95

Similarly, energy companies are also adopting commercial satellite imagery services for enhancement in productivity, which supports the market growth. For instance, in May 2022, ProStar Holdings Inc., a major company in Precision Mapping Solutions, was announced that Scout Energy Partners, signed a service-level agreement (SLA) for ProStar's cloud and mobile solution to improve the management and safety of pipeline operations.

Based on application, the geospatial data acquisition and mapping segment accounted for the highest share in 2021, contributing to more than one-fourth of the total market share, and is estimated to continue its lead position during the forecast period. However, the defense & intelligence segment is projected to manifest the highest CAGR of 13.3% from 2022 to 2031.

𝐆𝐞𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐰𝐢𝐭𝐡 𝐲𝐨𝐮'𝐫𝐞 𝐑𝐞𝐪𝐮𝐢𝐫𝐞𝐦𝐞𝐧𝐭𝐬: https://www.alliedmarketresearch.com/request-for-customization/1751

Based on end user, the government segment held the largest share in 2021, accounting for more than one-fifth of the global commercial satellite imaging market. However, the civil engineering and archaeology segment is expected to register the largest CAGR of 13.2% during the forecast period.

𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬:

Based on region, North America contributed to the highest share in 2021, holding nearly two-fifths of the total market share, and is expected to continue its dominant share by 2031. However, Asia-Pacific is projected to portray the fastest CAGR of 12.9% during the forecast period.

𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐭𝐨 𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐭𝐡𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭? 𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠: https://www.alliedmarketresearch.com/purchase-enquiry/1751

Moreover, rise in adoption of artificial intelligence (AI), machine learning (ML) and cloud computing in the space sector, rise in the use of satellite data in the development of smart cities and connected vehicles, and surge in NewSpace movement and stringent government regulation on satellite launch significantly impact the market growth.

𝐂𝐡𝐞𝐜𝐤 𝐨𝐮𝐭 𝐦𝐨𝐫𝐞 𝐫𝐞𝐥𝐚𝐭𝐞𝐝 𝐬𝐭𝐮𝐝𝐢𝐞𝐬 𝐩𝐮𝐛𝐥𝐢𝐬𝐡𝐞𝐝 𝐛𝐲 𝐀𝐌𝐑 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡:

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