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Improvement in Satellite Imagery to Create Opportunities for Satellite-based EO Market in the US Through 2020, Reports TechnavioTechnavio analysts forecast the satellite-based Earth observation (EO) market in the US to grow at a CAGR of over 9% during the forecast period, according to their latest report. The research study covers the present scenario and growth prospects of the satellite-based EO market in the US for 2016-2020. The report also presents the vendor landscape and a corresponding detailed analysis of the key vendors in the market. In addition, it discusses the major drivers influencing the growth of the market, as well as the key trends emerging in the market. Technavio ICT analysts highlight the following three factors that are contributing to the growth of the satellite-based EO market in the US:
Widening application base of EO satellites EO satellites are used to access data and satellite images pertaining to civil construction, weather forecast, climate, disasters, agriculture, and biodiversity. Around 190 satellites were orbiting the planet as of January 2014. It is likely that more than 350 EO satellites will be placed in orbit between 2015 and 2022 due to the widening application base of EO satellites. For instance, in February 2015, NASA launched the Delta-2 EO satellite to track the quantity of water locked in the soil in low-lying regions. This would help farmers living in these areas design effective contingency plans during droughts. Increased use of satellite-based EO in disaster management Natural disasters have considerably increased i frequency. Over 4,200 natural disasters were recorded in the past decade alone. These accidents resulted in more than 1,100,000 deaths and resulted in a revenue loss of over USD1.2 trillion. This has necessitated countries to gain a proper understanding of the environment to tackle the aftermath of disasters effectively. According to Rakesh Kumar Panda, a lead analyst at Technavio for M2M and connected devices, "EO satellites transmit data in the form of images, which are analyzed by scientists and meteorologists. This data lets the concerned agencies formulate an overview, which aids the disaster relief teams in devising a better strategy for the provision of relief." This can help nations prepare for disasters effectively and would assist in mitigating risks emanating from the aftermath of a natural disaster. Improvement in satellite imagery Images provided by satellites offer valuable data and information, which is used by government organizations for sectors such as defense, oil and natural gas, mining, meteorology, and agriculture. Vendors have intensified their R&D efforts to develop advanced equipment, including superior lenses. They are also developing advanced remote sensing technologies and high-resolution cameras to improve the quality of images captured by satellites. The technology used to capture satellite images has seen a marked improvement over the years. "As a result, users have started demanding more clarity in the images captured by EO satellites so that they can use these images effectively for applications such as weather information and forecasting, farming, and forestry," says Rakesh. Browse Related Reports:
Purchase these three reports for the price of one by becoming a Technavio subscriber. Subscribing to Technavio's reports allows you to download any three reports per month for the price of one. Contact [email protected] with your requirements and a link to our subscription platform. About Technavio Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies. Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users. If you are interested in more information, please contact our media team at [email protected].
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