Market Trends of Spain Geospatial Imagery Analytics Industry
Cloud Segment is Expected to Hold a Significant Share of the Market
- There are various reasons and financial benefits for organizations to have their analytics on the cloud. Some of them are the 24x7 availability of the cloud environment without any infrastructure dependency, the reduction of the time taken to deploy BI (business intelligence) components, the flexibility of scaling up or scaling down the infrastructure based on the requirement, the cost-effectiveness in terms of infrastructure procurement, and the massive spending on license and the support of mobile and web-based remote access to control database access, ensure user security, and perform analytics.
- Knowing the Total Cost of Ownership (TOC) of the A&BI platform is a significant consideration. A cost comparison that examines the internal costs of infrastructure licensing and authorization compared with external hosting in the cloud must be assessed. With SaaS, the total cost of ownership is typically lower due to several factors. First, some SaaS solutions are multitenant platforms that allow several users to share the software's underlying infrastructure. Users retain private and separate information even though it could be a shared platform. Second, SaaS analytics and BI platforms can get the business's servers, hardware, or IT resources to get the software up and running.
- Because SaaS analytics platforms are automated and ready to use, they have significantly less implementation time- typically a matter of days. SaaS is accessible via standard web browsers, resulting in reduced understanding curves and higher adoption rates. Because SaaS solutions are intuitive, self-service, and approachable, they are accessible to all users. On the other hand, implementation of on-premise A&BI (artificial and business intelligence) infrastructure generally takes months and requires employees trained to extract insights. Such advantages of cloud solutions over on-premise solutions are expected to drive cloud deployment significantly.
- However, IT professionals have significant concerns about the security of cloud solutions as most vendors have more substantial resources available to invest in security than a general business and provide a much higher level of security than the business could give itself. As a vendor automatically backs up data, there is a better chance of disaster recovery. However, every enterprise is different, so it is necessary to know the risk tolerance of the vendor. On-premise platforms are typically seen as less risky, which is expected to hinder the growth of cloud solutions.
- According to the European Space Agency, In 2022, Spain will contribute over EUR 220.7 million (USD 232.7 billion) to the European Space Agency (ESA) to support the mission of ESA in space explorations. France was the largest contributor during that period, with over EUR 1.1 billion (USD 1.16 billion). Such huge spending by the Spanish space agency would push the demand for the studied market.
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Defense and Security is Expected to Hold Significant Share
- Earth observation using high-resolution satellite imagery has long been a source of information for significant and urgent national security and defense concerns. Earth observation technologies are beneficial for monitoring land and sea borders in remote and isolated areas. It is possible to analyze vast sets of historical data and devise procedures to avoid border infractions at the regional and national levels using high-resolution satellite photos, aerial photography, and drones. Furthermore, technologies can be utilized to monitor large geographical areas and offer up-to-date information regarding infrastructure, logistics, and military installations in local conflicts. It's beneficial for assessing damage quickly in local conflict zones. Such things would drive the studied market.
- With rising marine traffic, border security enforcement, and increased illicit activities and hazards at sea, it is more critical than ever to properly monitor, respond, and defend our oceans and waterways. Pleiades Neo provides law enforcement agencies with a new level of maritime intelligence. We can now offer immediate insight for effective surveillance thanks to its 30 cm resolution comprehensive imagery and multi-visit capabilities. Pleiades Neo is useful for identifying illicit activities/routes, trafficking, oil spill monitoring, and illegal fishing in maritime security and environmental applications.
- Customers in the defense and intelligence sectors work in a challenging environment and require the most reliable and precise instruments to complete their missions. Companies are providing new services in their satellite imaging portfolio to meet those demands. For example, The four identical Pleiades Neo satellites, with 30 cm resolution, best-in-class geolocation accuracy, and twice-daily revisit, open up new possibilities: improved projection preparation, the precise location of enemy positions, and better anticipation and prevention for increased responsiveness and protection.
- GOVSATCOM is part of the EU Space Programme (2021-2027), which uses space’s capabilities in satellite communications to enable and facilitate the commission of Member States or EU policies connected to citizen security. In regions with no ground infrastructure (e.g., sea, air, rural areas, the Arctic region), or if the current ground infrastructure is unstable, damaged, or destroyed, access to GOVSATCOM is essential (e.g., due to natural disasters, crises, conflicts). This would create an opportunity for the market players to develop new products to capture the market share.
- According to NATO, in 2023, Spain's defense expenditure was estimated at USD 19.18 billion, the highest expenditure since 2014. In the previous year, the expenditure was estimated at USD 14.90 billion. Military expenditure is the money spent on a country's armed forces, including peacekeeping and defense operations. Such huge expenditure towards the military would propel the satellite imagery products, driving the demand for the studied market.
