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Commercial Satellite Imaging Market to Grow at 13.9% CAGR till 2019 due to Growing Demand from Oil and Gas Sector : Transparency Market Research

Albany - NY, Oct. 20, 2015 (GLOBE NEWSWIRE) -- The featured report on Transparency Market Research (TMR) on the global commercial satellite imaging market gives a bird's eye view of this industry. This report is titled Commercial Satellite Imaging Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2013 - 2019".According to this report, the global commercial satellite imaging market was worth US$2,054.5 million in 2012. By 2019, the market is expected to be worth US$5,018.6 million. The global commercial satellite imaging market will demonstrate a CAGR of 13.9% during the forecast period of 2013 to 2019.

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At present, there are approximately 2,000 artificial satellites orbiting the Earth that relay analog and digital signals, carrying video, voice, and data to and from several locations around the world. By application, the global commercial satellite imaging market is segmented into media and entertainment, conservation and research, defense and intelligence, disaster response management, construction and development, natural resources management, geospatial technology, and energy commercial.The sectors of natural resource management, geospatial technology, and energy together held a 41.8% revenue share in the global commercial satellite imaging market in 2012. High quality satellite pictures are possible owing to strategically positioned satellites and they greatly influence the decision-making capabilities of several business and socioeconomic activities. Commercial satellite imaging devices are now finding application beyond the traditional defense and government intelligence sectors; they are now being used in several other sectors that will help the market grow.

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By end-use, the global commercial satellite imaging market is divided into insurance, energy sector, forestry and agriculture, military, civil engineering industry, commercial enterprises, and government commercial. The military sector among all end-use sectors dominated the global commercial satellite imaging market with a 29.2% share in 2012. Currently, the global commercial satellite imaging market is benefiting from the rising demand from fields such as natural resource management and oil and gas. Furthermore, the growing demand from commercial applications such as fleet management, city planning, insurance, and real estate could also support the growth of the global commercial satellite imaging market in the long run.By geography, the global commercial satellite imaging market is segmented into Europe, North America, Asia Pacific, and Rest of the World (RoW). North America and Europe collectively held around 70.7% of total market revenue in 2012. North America is expected to lead the global commercial satellite imaging market in spite of the reduced government funding.

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The global commercial satellite imaging market is highly competitive in nature. The key companies operating in the global commercial satellite imaging market are DigitalGlobe, RapidEye AG (BlackBridge), and ImageSat International N.V. In 2012, GeoEye and DigitalGlobe together held a 65.1% market share in 2012. Players in the market are focusing on the opportunity provided by the multi-sensor satellite imagery. Further, market opportunities will be provided by the increasing consumer demand for high-resolution satellite imagery.

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