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Technavio’s market research analyst predicts the satellite-based EO market in the US to grow at a CAGR of more than 9% between by 2020. EO satellites are used to access data and satellite images about civil construction, weather forecast, climate, disasters, agriculture, and biodiversity. It is expected that more than 350 EO satellites will be positioned in the orbit between by 2022 due to the increasing applications of these satellites across various sectors. The growing requirements of EO satellites in remote sensing and meteorology across diverse industries such as mining, oil and gas, defense and intelligence, agriculture, and forestry will result in the augmented demand for these satellites during the forecast period.
The increasing use of nanosatellites and microsatellites is the key driver for the growth of this market. The rising demand for hyperspectral imaging systems and improved computational and communication systems has propelled several satellite providers such as Planet Labs and Terra Bella to launch nanosatellites and microsatellites into space. These small satellites are used in navigation and mapping applications for precise tracking and spotting. Owing to their small size, low costs, and better imaging coverage, many countries are launching these satellites, which will bolster their demand in the coming years.
The defense sector is the largest revenue contributing segment in the market and occupied around 36% of the overall market revenue in 2015. Much of this segment’s growth comes from the increase in the US’ government spending on space programs and surging demand for EO imagery. The rise in demand for data and value-added service (VAS) from the emerging economies will aid to this segment’s growth during the predicted period.
It is a moderately competitive market with the presence of very few suppliers. Most EO applications are dominated by government agencies such as NASA, who prefer to have a long-term partnership with the vendors. Competition in this market is expected to intensify during the forecast period because of the growing demand for satellite-based data and VAS. Also, the market will witness several players entering into the data and VAS segments.
Key vendors in the market are -
The other prominent vendors in the satellite-based EO market in the US are BlackBridge Group (Planet Labs), BlackSky Global, GeoOptics, Geosys, PlanetiQ, Satellogic, and Spire Global.
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Satellites transmit information and data in the form of images, which are then collected for further analysis. This information can be used to monitor and predict weather changes, oil and mineral deposits, disasters and natural calamities, availability of water sources, and climatic patterns. Satellite-based earth observation includes the process of gathering vital information pertaining to the Earth's system through remote sensing satellites. It is extensively utilized across verticals like defense and intelligence, weather, agriculture, natural resources, engineering and construction, media and entertainment, and tourism.
The satellite-based EO market in the US is a part of Technavio’s ICT research portfolio. This portfolio provides a comprehensive market analysis along with the market share, market sizing, and market segmentations covering areas such as automatic identification system, cloud computing, data center, enterprise application, IT security, ITO and BPO, and product lifecycle management. These market research reports provide a perspective on the various market opportunities and market threats along with the key trends that would influence the market growth during the forecast period. It presents insights into the changing competitive landscape and a detailed profiling and market analysis of the vendors. Also covered in the research are the key regions or countries that would have an impact on the market during the assessment years.
PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by vertical
PART 07: Market drivers
PART 08: Impact of drivers
PART 09: Market challenges
PART 10: Impact of drivers and challenges
PART 11: Market trends
PART 12: Vendor landscape
PART 13: Appendix
PART 14: Explore Technavio
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