Big data analytics via satellite is expected to generate close to $17.7 billion in revenue by 2028.
Big data analytics via satellite will generate nearly $18 billion in cumulative revenues and $3.1 billion in revenue opportunities by 2028. Increased demand from the Enterprise, Transportation and Government/Military sectors will contribute to this revenue growth.
EO applications will add to 56% of the industry’s growth. M2M and IoT communications will continue to drive land/maritime transportation and government/military applications. While North America will continue to dominate, other regions will join the market as more global companies adopt big data.
“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,” says Shivaprakash Muruganandham, NSR Analyst.
“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 says.
The Enterprise Services market will lead all verticals, as new datasets and applications appear. Industry veterans will continue moving toward data application offerings while newcomers focusing niche issues will find increased importance in the ecosystem.
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