Analytics and other data products from satellite imagery are projected to be a $2.2 billion annual business by the end of the decade, according to NSR’s Big Data Analytics Via Satellite annual report published in November 2020. According to NSR, the services sector — which includes insurance, banking and other financial services, along with commodity.
The space industry is in a period of rapid transformation, with the largest growth rates occurring in the Satellite and Space Applications segment. The recently released, NSR Global Space Economy report forecasts significant growth within this segment, representing the highest annual growth market within the decade. Albeit much smaller on an absolute revenue basis, when.
Cloud services ranging from IaaS and edge computing to virtualization and SaaS applications are not new to the IT industry; they have been well-known for years and are traditional concepts in most sectors. Not so in the satellite sector though, where a surge in the adoption of cloud-based technologies is underway.
Satellite data applications have grown recently due to a variety of factors: the rise of small satellite platforms, the increased adoption of cloud computing, IoT, and machine learning, amongst others.
An epithet for the real estate industry, this might as well describe the satellite big data (SBD) market — with the drive for digitization spanning multiple verticals, the need for satellite-based analytics solutions will only increase in the coming years.