US: The market for commercial satellite imaging globally is predicted to reach $5,018.6 million by 2019, revealed a new market report ‘Commercial Satellite Imaging Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2013 – 2019,’ published by Transparency Market Research.
Globally, this market was valued at $2,054.5 million in 2012 and is forecast to grow at 13.9 CAGR from 2013-2019. The data collected by satellites images has commercial value across industries, including commercial enterprises, civil engineering, military, forestry & agriculture, energy sectors and insurance, among others.
North America is expected to remain largest market for commercial satellite imagery followed by Europe. North America and Europe collective had revenue share of 70.7% in 2012. Commercial satellite imagery market in North America has been world-leading, and is expected to dominate the global market during the forecast period in spite of reduction in government funding. Europe is showing slower growth due to lower economic activity and turbulent budgetary situation, due to which large finance activities have been withheld or suspended for short term.