Big data analytics via satellite is expected to generate close to $17.7 billion in revenue by 2028.
NSR’s latest report, Big Data Analytics via Satellite, 3rd Edition (BDvS3) found that downstream big data apps continue to be driven by applications powered by Earth Observation and M2M/IoT satcom data. This growth is predicted to continue through the next decade through 2028. According the report big data analytics via satellite will generate nearly $18 billion in cumulative revenues by 2028. The increase in revenue will be due in part to increased demand from the Enterprise, Transportation and Government/Military sectors.
“Across all use cases, we expect to see a shift in usage towards data analytics applications, driven in particular by increasing adoption of satellite imagery to meet end user business cases,” stated Shivaprakash Muruganandham, NSR Analyst and report author.
M2M and IoT communications will continue to drive land/maritime transportation and government/military applications.
“This demand manifests itself in different ways, be it for fleet management solutions, financial instruments, competitive intelligence or business decision tools. Multiple players continue to focus on squeezing maximum value out of data obtained through satellites,” Muruganandham added.
The report also stated that the Enterprise Services market will lead all verticals, owning to the continuing introduction of new datasets and applications. Industry veterans will continue to move toward data application offerings while newcomers focusing on tackling niche issues will find increased importance in the ecosystem.
Big data analytics will reach nearly $3.1billion in revenue opportunities by 2028, with 56% coming from EO applications and the remainder from M2M/IoT sitcom apps. While North America will continue to be a dominating presence in the market, other regions are expected to cut into it as more companies around the world adopt big data.
For additional information on this report, including a full table of contents, list of exhibits and executive summary, please visit www.nsr.com.