Commercial Satellite Imaging Market to Grow at 13.9% CAGR from 2013 to 2019 : Transparency Market Research

According to a research report on the global commercial satellite imaging market published by Transparency Market Research (TMR), the commercial satellite imaging market is expected to attain market value worth US$ 5,018.6 million by 2019. This market valued nearly US$2,054.5 million in 2012, and is forecast to grow at a CAGR of 13.9% from 2013-2019. TMR analysts state that the market is currently benefitting from growing demand from the fields of oil and gas and natural resource management. Rising demands from commercial applications such as city planning, fleet management, real estate and insurance could also benefit the global satellite imaging market in the long-run, states the report.

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Commercial satellite imaging has many applications in a variety of high-end industries such as energy, military, forestry and agriculture, civil engineering, etc. High quality satellite images taken from strategically positioned satellites greatly influence decision making in many business and socioeconomic activities. From being limited to traditional applications in the defence and government intelligence sectors, the technology behind commercial satellite imaging has now moved on to acquire many applications these days, leading to a blooming global commercial satellite imaging market.

The report primarily focuses on the global commercial satellite imaging market based on the chief application areas and the end-user industries wherein the technology is applied. Apart from this, the report also focuses on important regional markets for the global satellite imaging market.

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The chief application areas discussed by the report include defence and intelligence, disaster response management, natural resources management, conservation and research, media & entertainment, construction and development, geospatial technology, and energy commercial. Amongst these, the three application areas geospatial technology, natural resource management, and energy together accounted for nearly 41.8% share of the total revenues generated by the global commercial satellite imaging market in 2012.

Apart from these three promising applications areas, the global market of commercial satellite imaging is also expected to benefit from rising demands from the global defence and intelligence sectors. Country governments purchase commercial satellite imaging equipments for climate change research, weather prediction, national security reconnaissance and land management activities, which grant significant revenues to the overall commercial satellite imaging market.

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Amongst the various end-user industries with which the global commercial satellite imaging market deals, the military sector helped it generate the highest share of revenues, an estimated 29.2%, in the year 2012.

North American and European regional markets collectively acquired nearly 70.7% shares of revenues in 2012. North American regional market is expected to maintain its leading position during the forecast period as well despite reduced government funding on commercial satellite imaging techniques.

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Companies such as GeoEye Inc., Digital Globe Inc., ImageSat International N.V., BlackBridge (RapidEye), Skybox Imaging, Inc., and Astrium Geo operate in the market amid stiff competition due to dominance of only a few. Two companies, DigitalGlobe and GeoEye held nearly 65.1% shares of the overall commercial satellite imagery market in 2012.

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