New from NSR: the industry’s only report on big data analytics via satellite
NSR’s Big Data Analytics via Satellite, 3rd Edition 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, owing to increasing demand from end users in the Transportation, Government & Military, Energy and Enterprise sectors. 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,” stated Shivaprakash Muruganandham, NSR Analyst and report author. On the other hand, M2M and IoT communications via satellite will continue to drive the more mature markets of land/maritime transportation and government and military applications. “This demand manifests itself in different ways, be it for fleet management solutions, financial instruments, competitive intelligence or business decision tools. Multiple players continue to focus on squeezing maximum value out of data obtained through satellites,” Muruganandham adds. Growth in the Enterprise Services market is expected to outpace other verticals, as newer datasets and applications come online. Industry incumbents continue to partner and evolve their businesses towards offering data applications as part of their services, even as newer startups tackling niche problems find importance in the ecosystem. The line between EO and M2M/IoT data applications is expected to blur further in the future, as highly integrated datasets become prevalent, and becoming data-agnostic will be a key differentiator for Big Data companies. [if !supportLineBreakNewLine] [endif]Overall, satellite Big Data analytics will reach close to a $3.1 billion revenue opportunity by 2028, with 56% from EO applications and the rest, driven by M2M/IoT satcom applications. While North America’s presence as an established market continues through the decade, other regions are expected to eat into its market share as companies globally adopt Big Data solutions into their businesses.