The adoption of Industrial IoT (IIoT) continues to drive the digitization and automation of the commercial transportation sector, whether it is land, maritime or air transport.
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The question is, [are you willing to] to invest 12 months of building [ an AI ] system? Sending satellites into space, gathering data from Earth, and applying machine learning to turn the resulting data into actionable intelligence isn’t as outlandish as it sounds. In fact, it’s a business that’s booming, driven by increased demand.
NSR’s Big Data Analytics via Satellite, 3rd Edition (BDvS3) report, published today, finds continued growth for downstream Big Data applications through the next decade, driven by applications built on Earth Observation and M2M/IoT satcom data across multiple market verticals. Big Data analytics via satellite will generate close to $17.7 billion in cumulative revenues by 2028,.
Revenue generated from applications deriving value from EO imagery data are expected to grow at 30% CAGR from 2018 to 2028. “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,”.
Satellite Big Data analytics will reach close to a $3.1 billion revenue opportunity by 2028, with 56% from EO applications & the rest, driven by M2M/IoT satcom applications.