The commercial satellite imaging market is segmented into application, end user, and region.
WILMINGTON, NEW CASTLE, DELAWARE, UNITED STATES, August 20, 2024 /EINPresswire.com/ -- The ๐๐จ๐ฆ๐ฆ๐๐ซ๐๐ข๐๐ฅ ๐๐๐ญ๐๐ฅ๐ฅ๐ข๐ญ๐ ๐๐ฆ๐๐ ๐ข๐ง๐ ๐๐๐ซ๐ค๐๐ญ report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario. 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. On the other hand, increase in usage of satellite data for development of smart cities and connected vehicles along with rise in implementation in commercial applications present new opportunities in the coming years.
๐๐๐ช๐ฎ๐๐ฌ๐ญ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ ๐๐ฌ ๐๐จ๐ฐ: https://www.alliedmarketresearch.com/request-sample/1751
For instance, the China government announced in June 2021 that four satellites will be launched into predetermined orbits for catastrophe prevention and mitigation, asteroid resource discovery, ecological environment monitoring, and other applications. Surge in demand for satellite data from various industry verticals and increase in requirement of earth observation satellites are factors expected to drive the market growth. Companies with a strong technological edge and diverse customer base are likely to gain a competitive advantage in the commercial satellite imaging market share landscape.
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.
๐๐ก๐ ๐ค๐๐ฒ ๐ฉ๐ฅ๐๐ฒ๐๐ซ๐ฌ ๐ฉ๐ซ๐จ๐๐ข๐ฅ๐๐ ๐ข๐ง ๐ญ๐ก๐ข๐ฌ ๐ซ๐๐ฉ๐จ๐ซ๐ญ ๐ข๐ง๐๐ฅ๐ฎ๐๐
IMAGESAT INTERNATIONAL N.V, EUROPEAN SPACE IMAGING, SPACEKNOW, GALILEO GROUP, INC, PLANET LABS INC, MAXAR TECHNOLOGIES INC, TELESPAZIO FRANCE, HARRIS CORPORATION, BLACKSKY GLOBAL LLC, URTHECAST CORP
๐๐ฎ๐ฒ ๐๐จ๐ฐ ๐ญ๐ก๐ ๐๐ฑ๐๐ฅ๐ฎ๐ฌ๐ข๐ฏ๐ ๐๐๐ฉ๐จ๐ซ๐ญ: https://www.alliedmarketresearch.com/checkout-final/cd22a03535d0a169d85fe5125caf529f
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 ProStarโs cloud and mobile solution to improve the management and safety of pipeline operations.
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.
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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.
๐๐๐ญ ๐๐ฎ๐ฌ๐ญ๐จ๐ฆ๐ข๐ณ๐๐ ๐๐๐ฉ๐จ๐ซ๐ญ๐ฌ ๐ฐ๐ข๐ญ๐ก ๐ฒ๐จ๐ฎโ๐ซ๐ ๐๐๐ช๐ฎ๐ข๐ซ๐๐ฆ๐๐ง๐ญ๐ฌ: https://www.alliedmarketresearch.com/request-for-customization/1751
The commercial satellite imaging market size is segmented into application, end user, and region. By application, the market is categorized into geospatial data acquisition & mapping, urban planning & development, disaster management, energy & natural resource management, surveillance & security, defense & intelligence, and others. By end user, it is segregated into government, military & defense, forestry & agriculture, energy, civil engineering & archaeology, transportation & logistics, and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa.
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By application, the geospatial data acquisition and mapping segment is anticipated to dominate the market in the coming future.
By end user, the government segment is anticipated to lead the market.
By region, Asia-Pacific is anticipated to register the highest CAGR during the forecast period.
๐๐ก๐๐๐ค ๐จ๐ฎ๐ญ ๐ฆ๐จ๐ซ๐ ๐ซ๐๐ฅ๐๐ญ๐๐ ๐ฌ๐ญ๐ฎ๐๐ข๐๐ฌ ๐ฉ๐ฎ๐๐ฅ๐ข๐ฌ๐ก๐๐ ๐๐ฒ ๐๐๐ ๐๐๐ฌ๐๐๐ซ๐๐ก:
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David Correa
Allied Market Research
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