Space companies are trying to market a huge amount of data being broadcast back from satellites every day.
Big Picture: It's cheaper than ever to launch Earth observing satellites into space, making it easy to gather large amounts of orbital data.
But the market for imaging and analysis companies is still largely restricted to government customers and sophisticated high-paying consumers such as the oil and gas industry.
"There are very few industries out there that will somehow not take advantage of this kind of data … … How do we make this an efficient and effective process to make this happen? And there is no magic answer to that. but it will take a lot of different companies trying different things. "
What's Happening: The companies that collect orbital data now offer processing and analysis of them in order to expand their revenue and make it
- Planet – a company with more than 100 satellites watching Earth in orbit yes – it can take photos anywhere on Earth every day, and the company sees a future in data analytics.
- "Our goal is to make satellite images universally useful to everyone by indexing the objects in each image and developing a database not only of the images, but of the physical objects in those images," a planet spokesman told Axios via email.
- Spire also focuses on analyzing its own customer data. interested in meteorological systems, resource management and other applications.
What's next: Some companies are trying to collect satellite data from different sources and make it easily accessible to a wide variety of users.
- Hypergiant and Dynetics have partnered with each other to facilitate and more efficiently collect and analyze space data.
- "Currently, the cost of retrieving data from space is keeping the information flow relatively low. However, as we place more satellites in space and reduce the cost of obtaining this data, more companies will require it, "said Hypergiant CEO Ben Lam via email.
- The Earth Observation and Analysis Market can grow to $ 7 billion by 2028 of about $ 3 billion now, according to Northern Sky Research senior analyst Dallas Casaboski.
Yes, but: Satellite companies are generally interested in taking advantage of major government contracts and other large corporations with deep pockets to make their data accessible to the masses, at least for the time being.
- "This is one of the reasons these players are still focused on bigger fish because they know it's a multi-hundred million dollar program, they have to offset those costs over a five to 10 year period, "Casaboski told Axios.
- Creating a new market is also a slow process overall, and this part of the space industry is only at the beginning of this work, says Wilson.
bot tom line: Companies that collect and analyze Earth observation data will need more government contracts to develop a sustainable market.
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