Earth Observation Satellite Data and Service Market to Eyewitness Massive Growth

Posted by BIS RSRCH on November 19th, 2020

Earth observation data and service is utilized by government and defense, forestry and fishery, energy and natural resources, archeology and civil infrastructure, agriculture, and others end user. In 2017, the market was dominated by government and defense end user, due to high utilization of data and service in addressing surveillance, environmental, and sustainability issues. However, other (enterprises, insurance and financial service, travel, media and entertainment, retail and e-commerce) end user is expected to witness highest growth during the forecast period, driven by technological advances in earth observation data and service that can cater customized requirement of these industries.

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Earth Observation (EO) satellites are designed for applications like disaster monitoring, agriculture, cartography, and natural resources surveys among others. These satellites carry instruments which allow them to operate at lower altitudes only and are placed either in Low Earth Orbit (LEO) or Sun- Synchronous Orbit (SSO). These satellites are of 2 types, named, Synthetic Aperture Radar (SAR) and optical satellites. SAR is useful in broad area imaging at high resolution and in imaging after sunset or during inclement weather. Whereas, optical satellites have sensors which use near infrared radiation and visible light to gather data. These satellites can be used only during daytime and cloud-free conditions.

Earth observation data and service is utilized in data acquisition and mapping, sustainable development and environment management, disaster management, security and surveillance, and location-based service (LBS) application. In 2017, the market was dominated by sustainable development and environment management application, due to high utilization of data and service in addressing environmental and sustainability issues. However, LBS application is expected to witness the highest growth during the forecast period, 2018-2023, driven by integration of computing technologies and wireless communication with positioning technology and spatial data.

The North America region includes two countries, the U.S. and Canada. Currently, the U.S. is the dominant country in North America and is anticipated to remain the same till 2023. Whereas, Canada, which is a leading player with SAR satellite constellation, will grow further as it is advancing the development of earth observation data and service technology. Most of the satellite-based earth observation service providers, are based in this region. Motivated by an intrinsic desire to explore space, major operators in the region along with government agencies, are extensively investing in developing latest technologies aimed at fundamentally improving space access.

The commercial earth observation satellite market is experiencing a boom in the space technology, not only in terms of investment, but also regarding the technical breakthrough in data storage and data analytics. Google Map, an application of earth observation, has increased the horizon of earth observation application significantly from industrial and defense to everyday utilization.

Development of unprecedented high resolution and multispectral cameras and sensors have enabled capturing high quality images with very short time difference. These high-profile satellites visit the earth repeatedly and capture terabytes of data every day. Moreover, the data generated is of heterogenous semantics, varying measurements and formats, asynchronous resolution, and various other modalities. This created an immediate requirement of cost-effective solutions that can enable advanced data synchronization, predictive data processing analytics, and various other models to allow data management, asset management, data dissemination, technical processes, and data distribution.

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Conventional data bases and data processing technologies are not competitive enough to handle the volume and veracity of data, therefore, technologies like big data, artificial intelligence, machine learning, and cloud computation are the analytics techniques gaining huge traction in the market currently. Big data and cloud computation analytics are in use from past five years, however, inclusion of artificial intelligence and machine learning is a big trend in the market which is expected to boost the growth in the global commercial earth observation market. 

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BIS RSRCH

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BIS RSRCH
Joined: March 5th, 2020
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