Competition Intensifies as Earth Observation Market Evolves
Frost & Sullivan's recent analysis, Global Earth Observation Market, reveals that heightened demand for enhanced intelligence, entry of cheaper imagery products from small-satellite operators and the development of integration platforms leveraging artificial intelligence and big-data capabilities are key trends transforming the earth observation industry. While surveillance and analytics solutions are being derived from massive data mines delivering diverse solutions across markets, multiple start-ups are poised to deliver specialized intelligence-as-a-service to diverse customer groups such as autonomous vehicles, smart cities and governments.
"New geospatial solutions covering diverse data sets are set to enter the market, bringing in fresh competition along with new customer groups and business models," said Arun Kumar Sampathkumar, Senior Research Analyst, Space, Frost & Sullivan. "Pay-per-image pricing and subscription-based business models will rise as the burden of data storage, distribution, and processing will be upheld by solution providers."
For further information on this analysis, please visit: http://frost.ly/3xy
To tap into future growth opportunities, players should focus on establishing the following strategies:
- Developing full solutions delivering actionable insights for diverse stakeholder groups so end users can access the solution in a device-agnostic delivery scheme from a web-based front end without further processing required.
- Capitalizing on cheaper satellite imagery products from small-satellite operators and establishing a working relationship with entrants specializing in new intelligence solutions so that existing capabilities are enhanced while customers gain access to value generated in the market.
- Investing in voice-of-customer research to better understand the unmet needs of new customer groups.
- Investigating evolving opportunities with respect to the impact of internet of things and artificial intelligence and applying them to enhance products, services, and business models to avoid potential obsolescence risks.
"Although the market offers tremendous opportunities, there are still significant challenges, such as research and development of data-agnostic integrated platforms and automating the overlay process to enable actionable insights, that can be monetized as a large portion of these activities are still manual or diagnostic in nature," noted Sampathkumar.
Frost & Sullivan's recent analysis, Global Earth Observation Market, Forecast to 2029,explores the factors, trends and technologies that have shaped the global earth observation landscape, the challenges that lie ahead, and the opportunities that can be tapped. Specific action points such as demand for small-satellite launch based on operators' maturity, mass classes, and user segments are discussed with forecasts for the number of small satellites, payload mass, and launch revenue based on defined scenarios provided. Upstream and downstream segments have also been included.
About Frost & Sullivan
For over five decades, Frost & Sullivan has become world-renowned for its role in helping investors, corporate leaders and governments navigate economic changes and identify disruptive technologies, Mega Trends, new business models and companies to action, resulting in a continuous flow of growth opportunities to drive future success. Contact us: Start the discussion
Global Earth Observation Market, Forecast to 2029
Corporate Communications Consultant
Download The Devdiscourse News App for Latest News.