Research and MarketsÂ predicts that the global satellite-based Earth observation market will achieve a 13.23-percent compound annual growth rate over a five-year period ending 2019.
The company said FridayÂ the report points to the growing application base for satellite data leading to the increasing number of launches of Earth observation satellites, which is the key market driver.
According to the report, these small satellites operate as part of large constellations and are increasingly used due to their lower costs, efficiency in orbit, larger imaging coverage and configurability.
Research and Markets also noted that the use of UAV-based Earth observation services could present a challenge to the growth of the market.
The report identified the following key vendors in theÂ global satellite-based Earth observation market:
- DMC International Imaging
- MDA Information System
- Skybox Imaging (Google)
- ImageSat International