India Satellite Imagery Services Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 0.28 Billion |
| Market Size (2029) | USD 0.63 Billion |
| CAGR (2024 - 2029) | 17.43 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
India Satellite Imagery Services Market Analysis
The India Satellite Imagery Services Market size is estimated at USD 0.28 billion in 2024, and is expected to reach USD 0.63 billion by 2029, growing at a CAGR of 17.43% during the forecast period (2024-2029).
The deployment of high-resolution imaging satellites and technological developments in satellite technology, such as the availability of sophisticated data processing and analysis tools, contribute to expanding India's satellite imagery services industry. These developments may improve the accuracy and usability of satellite imaging data, offering up new application possibilities and boosting demand for satellite imagery services.
- The Indian satellite imagery services market has witnessed significant growth in recent years, driven by various factors such as infrastructure development, government initiatives, agriculture, disaster management, environmental monitoring, and urban planning. Satellite imagery services provide valuable geospatial data and insights that support decision-making, planning, monitoring, and analysis across various sectors in India.
- Infrastructure development is crucial in driving India's demand for satellite imagery services. The nation is investing significantly in large-scale infrastructure projects, including smart cities, trains, highways, ports, and airports. Services for satellite images could support site selection, feasibility analyses, and project monitoring, empowering stakeholders to make informed decisions and streamline the building process. Successful project execution and infrastructure planning depend on the precise and current geographic data offered by satellite imaging services.
- Government initiatives have also contributed to the growth of the Indian satellite imagery services market. Programs such as Digital India, Smart Cities Mission, and PMGSY emphasize using technology, including satellite imagery, to enhance governance, planning, and implementation of government projects. These initiatives provide a conducive environment for adopting satellite imagery services across various sectors and encourage their integration into policy and decision-making processes.
- In India, disaster management and mitigation are important issues because of the nation's susceptibility to natural calamities. For instance, According to the India Meteorological Department's Annual Statement on Climate of India - 2022, there were 2,227 fatalities in India year 2022 due to extreme weather occurrences. Satellite imagery services are crucial in monitoring, assessing, and responding to disaster-affected areas. Real-time and historical satellite imagery data help governments, disaster management agencies, and relief organizations coordinate and execute effective disaster response strategies.
- However, cost and accessibility are vital challenges for India's widespread adoption of satellite imagery services. Many businesses and organizations still find getting high-resolution images and sophisticated analytical tools expensive, although satellite imaging data is now more widely available. The market's growth may be restricted by affordability issues, especially in resource-constrained industries and small and medium-sized businesses (SMEs).
India Satellite Imagery Services Market Trends
Government Initiatives to Foster the Growth of Satellite Imagery Services in India
- The Indian government launched several key initiatives emphasizing technology and satellite imagery to drive development across various sectors. One such initiative is Digital India, which aims to transform India into a digitally empowered society and knowledge economy. Under this program, satellite imagery services are leveraged for effective governance, infrastructure planning, and monitoring.
- The Smart Cities Mission is another significant initiative focusing on developing 100 smart cities nationwide. Satellite imagery services play a crucial role in urban planning, infrastructure development, and monitoring of these smart cities.
- In addition, satellite imaging services are used for project monitoring, site selection, and feasibility assessments as part of the Pradhan Mantri Gram Sadak Yojana (PMGSY) program, which aims to connect rural regions with all-weather roads. These programs, along with others like Atal Mission for Rejuvenation and Urban Transformation (AMRUT), the Swachh Bharat Abhiyan (Clean India Mission), etc., would have significantly promoted considerable developments in technology and information-driven decisions in governance, infrastructure, and urban planning, which in turn supports the growth of satellite imagery services in India.
- Further, the Department of Space (DoS), which continues to be the core element of the nation's space program and carries out several significant initiatives, received INR 125.44 billion (USD 1.53 billion) from the Union Budget for 2023-2024 (FY 23). The 2023-24 Union Budget reduced the Department of Space's spending by 8%, bringing it from the previous Budget forecast of INR 137 billion (USD 1.67 billion) to INR 125.44 billion (USD 1.53 billion).
- However, this is 19% more than the updated forecast from the last fiscal year. The reported data highlights that, despite a minor decrease from the initial prediction, the Department of Space still has a sizable budget allocation. The increased budgetary allotment over the prior fiscal year demonstrates that space-related activities and programs continue to get support.
Forestry and Agriculture End-user to Hold Significant Market Share
- In India, satellite imagery services have become essential tools for precision agriculture, crop monitoring, and forest management. In agriculture, satellite imagery services may provide essential data for assessing crop health, monitoring vegetation indices, and optimizing resource allocation. As a result, farmers could make informed decisions regarding fertilization, and pest management, improving agricultural productivity and sustainability.
- Further, in the forestry sector, satellite imagery services could aid in identifying deforestation, monitoring forest cover, and assessing the health and biodiversity of forested areas. These services may support forest management practices, thereby enabling the prior detection of forest fires and contributing to the conservation and preservation of forest ecosystems.
- The adoption of satellite imagery services in India's forestry and agriculture sectors is driven by the need for accurate and timely information, increased efficiency, and sustainable practices. The availability of high-resolution satellite imagery and advanced analytics tools further enhances the value and application of satellite imagery services in these sectors.
- Further, according to the Agricultural and Processed Food Products Export Development Authority (APEDA), India's total organic area increased from roughly five million hectares in fiscal year 2012 to nearly 10.17 million hectares in fiscal year 2023. By leveraging satellite imagery services, the agriculture sector can benefit from valuable insights and data to support organic farming practices.
India Satellite Imagery Services Industry Overview
The India satellite imagery services market is expected to be fragmented, with multiple players operating in the industry. While a few key players and government organizations have a significant presence, a diverse range of smaller companies and startups also offer satellite imagery services in India. Prominent players operating in the market include Airbus SE, Genesys International Corporation Ltd, Antrix Corporation Limited, Hexagon AB, RMSI Private Limited, etc.
In September 2022, A Memorandum of Understanding (MoU) was signed between the Synthetic Aperture Radar (SAR) and optical sensor-equipped imaging satellite operator GalaxEye, which was founded at the Indian Institute of Technology-Madras (IIT-M). The business believes that its collaboration would assist GalaxEye's satellite in accomplishing its mission and delivering superior satellite images to its clients.
In June 2022, MapmyIndia, a local navigation company, announced that the firm had collaborated with ISRO to improve the quality of its 3D maps. RealView, which the business is introducing to the market, is created from the sky or space using satellite imagery from ISRO, using drones and road-based vehicles to create fully three-dimensional high-definition and 360-degree data.
India Satellite Imagery Services Market Leaders
-
Airbus SE
-
Genesys International Corporation Ltd
-
Antrix Corporation Limited
-
Hexagon AB
-
RMSI Private Limited
*Disclaimer: Major Players sorted in no particular order
India Satellite Imagery Services Market News
- January 2023: The Indian Space Research Organization's National Remote Sensing Center released satellite images of Joshimath, a town in Uttarakhand that is slowly sinking due to land subsidence, and the images show that a rapid subsidence of 5.4 cm was observed in a span of twelve days between December last week and January first week.
- June 2022: Pataa Navigations, an India-based software firm, and Indian National Space Promotion and Authorisation Centre (IN-SPACe) signed an MoU to enable access to ISRO's Geospatial Services and APIs for the creation of an addressing system during the opening of the In-Space headquarters. The company would launch an addressing revolution in India by providing access to satellite image-based digital addresses. Through this MoU, the partnership would be for the ISRO portals Bhuvan, VEDAS, and MOSDAC services.
India Satellite Imagery Services Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Attractiveness - Porter's Five Forces Analysis
4.2.1 Bargaining Power of Buyers
4.2.2 Bargaining Power of Suppliers
4.2.3 Threat of New Entrants
4.2.4 Threat of Substitutes
4.2.5 Intensity of Competitive Rivalry
4.3 Industry Value Chain Analysis
4.4 Assessment of the Impact of COVID-19 on the Market
5. MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Government Initiatives to Foster the Growth of Satellite Imagery Services in India
5.1.2 Increasing Importance on Disaster Management and Mitigation Efforts
5.2 Market Restraints
5.2.1 Affordability and Accessibility might restrain the Market Growth
5.2.2 Limited Standardization and Interoperability
6. MARKET SEGMENTATION
6.1 By Application
6.1.1 Geospatial Data Acquisition and Mapping
6.1.2 Natural Resource Management
6.1.3 Surveillance and Security
6.1.4 Conservation and Research
6.1.5 Disaster Management
6.1.6 Intelligence
6.2 By End-User
6.2.1 Government
6.2.2 Construction
6.2.3 Transportation and Logistics
6.2.4 Military and Defense
6.2.5 Forestry and Agriculture
6.2.6 Others
7. COMPETITIVE LANDSCAPE
7.1 Company Profiles*
7.1.1 Airbus SE
7.1.2 Genesys International Corporation Ltd
7.1.3 Antrix Corporation Limited
7.1.4 Hexagon AB
7.1.5 RMSI Private Limited
7.1.6 Maxar Technologies Holdings Inc.
7.1.7 MapmyIndia (C.E. Info Systems Ltd.)
7.1.8 Rolta Incorporated
7.1.9 Quantduo Technologies Private Limited
7.1.10 GIS Consortium India Private Limited
7.1.11 SatSure Analytics India Pvt Ltd
8. INVESTMENT ANALYSIS
9. MARKET OPPORTUNITIES AND FUTURE TRENDS
India Satellite Imagery Services Industry Segmentation
Satellite imagery refers to images of the Earth taken from satellites orbiting the planet. These satellites are equipped with various sensors for detecting visible light, infrared light, microwave radiation, and more to craft high-resolution images. These images combine to create visual representations of the Earth, providing new perspectives on climate, geography, and manmade structures.
The India satellite imagery services market is segmented by application (geospatial data acquisition and mapping, natural resource management, surveillance and security, conservation and research, disaster management, intelligence), and by end-user (government, construction, transportation and logistics, military and defense, forestry, and griculture). The market sizes and forecasts are provided in terms of value in USD for all the above segments.
| By Application | |
| Geospatial Data Acquisition and Mapping | |
| Natural Resource Management | |
| Surveillance and Security | |
| Conservation and Research | |
| Disaster Management | |
| Intelligence |
| By End-User | |
| Government | |
| Construction | |
| Transportation and Logistics | |
| Military and Defense | |
| Forestry and Agriculture | |
| Others |
India Satellite Imagery Services Market Research Faqs
How big is the India Satellite Imagery Services Market?
The India Satellite Imagery Services Market size is expected to reach USD 0.28 billion in 2024 and grow at a CAGR of 17.43% to reach USD 0.63 billion by 2029.
What is the current India Satellite Imagery Services Market size?
In 2024, the India Satellite Imagery Services Market size is expected to reach USD 0.28 billion.
Who are the key players in India Satellite Imagery Services Market?
Airbus SE, Genesys International Corporation Ltd, Antrix Corporation Limited, Hexagon AB and RMSI Private Limited are the major companies operating in the India Satellite Imagery Services Market.
What years does this India Satellite Imagery Services Market cover, and what was the market size in 2023?
In 2023, the India Satellite Imagery Services Market size was estimated at USD 0.23 billion. The report covers the India Satellite Imagery Services Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the India Satellite Imagery Services Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
India Satellite Imagery Services Industry Report
Statistics for the 2024 India Satellite Imagery Services market share, size and revenue growth rate, created by Mordor Intelligenceā¢ Industry Reports. India Satellite Imagery Services analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
