Nov 09, 2013

Satellite-Based Earth Observation Market to Grow 9.49 Percent by 2016

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[Via Satellite 11-08-13] Research and Markets has added a new report that analyzes the global Earth observation market. According to the “Global Satellite-based Earth Observation Market 2013 Report,” this market is expected to grow at a CAGR of 9.49 percent from 2012 to 2016.

Commenting on the report, an analyst from Research and Markets’ telecom team said one of the major trends in the market is the formation of the Global Earth Observation System of Systems (GEOSS), an Internet-based platform that allows users of Earth observation data to access, search, and use the data, information, tools, and services for their needs developed by the Group on Earth Observations (GEO), a voluntary partnership of governments and international organizations, to utilize the growing potential of Earth observations.

According to the report, one of the main drivers in this market is the technological advancement in satellite development and imagery. Advanced image-enhancing technology, high-resolution cameras, and advanced remote-sensing technology have improved the quality of satellite-based Earth observation images. As for challenges, the report highlights the requirement for high initial investment as the main roadblock the market must face.