Space companies are trying to build a market for the huge amounts of data that are returned daily from satellites.
The Big Picture: The launch of Earth observation satellites into space is cheaper than ever to collect large amounts of data from orbit.
However, the market for imaging and analytics companies remains largely limited to government customers and demanding, high-paid users such as the oil and gas industry.
"There are very few industries out there that would not benefit in any way from this kind of data … How can we make this an efficient and effective process to achieve this? And there is no magic answer on it, but it will take a lot of different companies trying different things. "
What happens: Companies that collect data from orbit now offer the Processing and analyzing this data in order to increase their revenues and customers mer base.
- Planet – a company with more than 100 Earth Observing satellites in orbit – can capture images all over the world every day, and the company sees a future in data analysis.
- "Our goal is to make satellite imagery universal for everyone by indexing the objects in each image and creating a database of not just the images but the physical objects in those images," said a planet spokesman Axios Per E-mail.
- Spire also focuses on analyzing its own data for customers interested in weather systems, resource management and other applications.
What Next: Some companies are trying to collect satellite data from multiple sources and make it readily available to a variety of users.
- Hypergiant and Dynetics are partnering to simplify the collection and analysis of space data and make it more efficient.
- "Currently, the cost of retrieving data from space has kept the flow of information relatively low, but if we bring more satellites into space and reduce the cost of getting that data, more companies will demand it," said Hypergiant -CEO Ben Lamm via e-mail.
- The earth observation and analysis market could grow to $ 7 billion by 2004 According to Northern Sky Research's senior analyst Dallas Kasaboski, it is currently worth about $ 3 billion in 2028.
Yes, but: Satellite companies are broadly interested in handling large government contracts and other large companies that are having difficulty completing their assignments, data that is accessible to the masses, at least for now.
- "This is one of the reasons why these players are still focusing on the bigger fish because they know it's a multi-million dollar program they need to make up for. A period of five to ten Years, "Kasaboski told Axios.
- The creation of a new market is also generally a slow process, and this part of the space industry is only at the beginning of this work, Wilson said.
offered tom line: Companies collecting and analyzing earth observation data need more than just government contracts to build a sustainable market.
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