Dublin, Dec. 19, 2024 (GLOBE NEWSWIRE) -- The "Satellite Imaging Market Size, Share, Forecast, & Trends Analysis by Offering, Application, Sector, & Geography - Global Forecast to 2031" report has been added to ResearchAndMarkets.com's offering.
The satellite imaging market is projected to reach $8.6 billion by 2031, at a CAGR of 13.8% from 2024 to 2031
The growth of the global satellite imaging market is driven by the increasing demand for geospatial information, the growing use of satellite data for defense and security, the rising applications of satellite imaging in agriculture and forestry, the expanding adoption of satellite imaging in urban planning, and the heightened utilization of satellite imaging in airport mapping. However, stringent regulatory frameworks constrain the growth of the market.
Furthermore, the growing use of satellite imaging for environmental monitoring and the increasing adoption of satellite imagery in wildlife conservation & ecology applications is expected to generate growth opportunities for market players. However, data security concerns and atmospheric interference are major challenges impacting the market's growth.
In 2024, the solutions segment is expected to account for a larger share of 60.8% of the global satellite imaging market.
This segment's substantial market share can be attributed to the increasing use of satellite data to enhance agricultural productivity, the growing adoption of satellite imaging solutions across diverse industries, and the rising integration of AI technologies to improve data analysis and insights.
However, the services segment is poised to register a higher CAGR during the forecast period. This segment's growth is attributed to the increasing utilization of satellite imagery for various monitoring applications and the increasing collaborations among market stakeholders to enhance service capabilities.
In 2024, the surveillance & reconnaissance segment is expected to account for the largest share of 30.0% of the global satellite imaging market.
This segment's substantial market share is driven by the growing development of satellites for military applications and the increasing use of satellite imagery for surveillance and reconnaissance purposes.
However, the disaster response & aid planning segment is anticipated to register a higher CAGR during the forecast period. The growth of this segment is attributed to the rising adoption of satellite imaging solutions for analyzing and monitoring natural disasters such as hurricanes, tornadoes, volcanoes, and earthquakes. Additionally, there is an increasing utilization of satellite imagery by governments to deploy disaster management teams and provide targeted assistance in affected areas.
In 2024, the government & defense segment is expected to account for the largest share of 41.2% of the global satellite imaging market.
This segment's substantial market share is driven by the growing adoption of satellite imaging by government agencies to track environmental changes such as deforestation, natural disasters, and climate change. Additionally, there is an increasing use of maps and imagery for land use, infrastructure developments, and population growth in urban planning. The rising adoption of satellite imaging by defense agencies to monitor military activities, troop movements, and potential threats further contributes to this segment's growth.
However, the environment & climate segment is projected to register the highest CAGR during the forecast period. This segment's growth is driven by the increasing adoption of satellite imaging to monitor sea surface temperature, atmospheric temperature, and weather patterns. Additionally, government agencies are increasingly utilizing satellite imaging to gain insights and analyze the effects of urbanization on local climates and ecosystems.
In 2024, North America is expected to account for the largest share of 42.6% of the global satellite imaging market.
This region's substantial market share is attributed to the high adoption of data-driven methods in business operations, rising demand for high-resolution imagery services, and rapid integration of advanced analytics, AI, and machine learning. Additionally, increasing government initiatives, the presence of prominent industry players, and the growing demand for geospatial information further contribute to this segment's growth.
However, Asia-Pacific is poised to register the highest CAGR of 15.0% during the forecast period. This regional market's growth is driven by rapid advancements in satellite technology, increasing demand for satellite imaging in various applications, including urban planning and infrastructure development, and the rising need for satellite-making services in smart agriculture.
Key questions answered in the report:
- Which are the high-growth market segments based on offering, application, and sector?
- What was the historical market for satellite imaging?
- What are the market forecasts and estimates for the period from 2024 to 2031?
- What are the major drivers, restraints, and opportunities in the satellite imaging market?
- Who are the major players in the satellite imaging market?
- What is the competitive landscape like?
- What are the recent developments in the satellite imaging market?
- What are the different strategies adopted by the major players in the satellite imaging market?
- What are the key geographic trends, and which are the high-growth countries?
- Who are the emerging players in the global satellite imaging market, and how do they compete with the other players?
Some of the key companies profiled in this Satellite Imaging Market report include:
- Maxar Technologies Holdings Inc. (U.S.)
- Airbus SE (Netherlands)
- Lockheed Martin Corporation (U.S.)
- L3Harris Technologies Inc. U.S.
- BlackSky Technology Inc. (U.S.)
- SpaceKnow Inc. U.S.
- Satellite Imaging Corporation (U.S.)
- Capella Space Corp. (U.S.)
- EOS Data Analytics Inc. U.S.
- Telespazio UK Ltd (U.K.)
- Arlula Pty Ltd (Australia)
- ICEYE (Finland)
- Remote Sensing Technology Center of Japan (RESTEC) (Japan)
- Shoghi Communications Ltd. (India)
- Planet Labs PBC (U.S.)
- European Space Imaging GmbH (Germany)
- EarthDaily Analytics Corp. (Canada)
- SatSure Analytics India Pvt Ltd (India)
- RMSI Pvt. Ltd. (India)
- Trimble Inc. (U.S.)
- Satellogic Inc. (U.S.)
- Spire Global Inc. U.S.
Key Topics Covered:
1. Introduction
1.1. Market Definition & Scope
1.2. Currency & Limitations
2. Research Methodology
2.1. Research Approach
2.2. Data Collection & Validation Process
2.3. Market Sizing And Forecasting
2.4. Assumptions for the Study
3. Executive Summary
4. Market Insights
4.1. Overview
4.2. Factors Affecting Market Growth
4.2.1. Growing Demand for Geospatial Information Driving Market Growth
4.2.2. Increasing Use of Satellite Data for Defense & Security Accelerating Market Expansion
4.2.3. Rising Adoption of Satellite Imaging in Agriculture and Forestry Driving Market Growth
4.2.4. Rising Adoption of Satellite Imaging in Urban Planning Driving Market Growth
4.2.5. Increasing Utilization of Satellite Imaging for Airport Mapping Boosting Market Growth
4.2.6. Stringent Regulatory Frameworks Restraining Market Growth
4.2.7. Expanding Utilization of Satellite Imaging for Environmental Monitoring Creating Opportunities for Market Participants
4.2.8. Creasing Adoption of Satellite Imagery in Wildlife Conservation & Ecology Applications Creating Market Growth Opportunities
4.2.9. Data Security Concerns Hampering the Adoption of Satellite Technologies
4.2.10. Atmospheric Interference to Remain a Major Challenge in the Satellite Imaging Market
4.2.11. Integration of Advanced Technologies: A Key Trend in the Satellite Imaging Market
4.3. Case Studies
5. Satellite Imaging Market Assessment - by Offering
5.1. Overview
5.2. Solutions
5.3. Services
6. Satellite Imaging Market Assessment - by Application
6.1. Overview
6.2. Surveillance & Reconnaissance
6.3. Environmental Conservation & Research
6.4. Infrastructure Planning & Monitoring
6.5. Agricultural Planning
6.6. Weather Forecasting
6.7. Disaster Response & Aid Planning
6.8. Forestry Monitoring & Management
6.9. Navigation
6.10. Other Applications
7. Satellite Imaging Market Assessment - by Sector
7.1. Overview
7.2. Government & Defense
7.3. Environment & Climate
7.4. Energy & Mining
7.5. Transportation & Logistics
7.6. Agriculture, Forestry and Fisheries
7.7. Finance & Insurance
7.8. Other Sectors
8. Satellite Imaging Market Assessment - by Geography
8.1. Overview
8.2. North America
8.2.1. U.S.
8.2.2. Canada
8.3. Asia-Pacific
8.3.1. China
8.3.2. Japan
8.3.3. India
8.3.4. South Korea
8.3.5. Rest OF Asia-Pacific
8.4. Europe
8.4.1. U.K.
8.4.2. Germany
8.4.3. France
8.4.4. Italy
8.4.5. Spain
8.4.6. Rest of Europe
8.5. Middle East & Africa
8.6. Latin America
9. Competition Analysis
9.1. Overview
9.2. Key Growth Strategies
9.3. Competitive Benchmarking
9.4. Competitive Dashboard
9.4.1. Industry Leaders
9.4.2. Market Differentiators
9.4.3. Vanguards
9.4.4. Emerging Companies
9.5. Market Ranking, by the Key Players
10. Company Profiles (Company Overview, Financial Overview, Product Portfolio, and Strategic Developments)
For more information about this report visit https://www.researchandmarkets.com/r/mkgncm
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