Commercial Satellite Imaging Market Size To Worth USD 9.6 Billion By 2032 CAGR Of 11.5%

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Commercial Satellite Imaging Market

The commercial satellite imaging market is segmented into application, end user, and region.

WILMINGTON, NEW CASTLE, DELAWARE, UNITED STATES, June 11, 2024 /EINPresswire / -- Rise in utilization of satellite imagery in government and defense sectors drive the growth of the global Commercial Satellite Imaging Market . The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario. 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.

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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.

The key players profiled in this report include

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

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.

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They are gaining immense popularity and are massively adopted in the government sector, defense & intelligence, transportation, telecommunication, manufacturing, e-retailing, energy, and natural resource management industries. This is attributed to high-resolution imagery to produce updated, highly accurate, and real-time maps by LBSs. Therefore, growth in adoption of LBSs is expected to drive the growth of the commercial satellite imaging industry. The global commercial satellite imaging market size has been steadily increasing due to the growing demand for geospatial data across various sectors.

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.

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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 share . However, the civil engineering and archaeology segment is expected to register the largest CAGR of 13.2% during the forecast period.

KEY FINDINGS OF THE STUDY

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.

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David Correa
Allied Market Research
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