NSR’s Big Data via Satellite report, released today, finds over $580 Million in 2016 retail revenues attributed to Big Data via Satellite applications across seven key verticals, and by 2026 retail revenues will approach nearly $2.4 Billion. Achieving that growth, however, will require on-going developments by satellite players to integrate, process, and analyze an ever-increasing range of data from both Earth Observation and M2M/IoT sources.
NSR’s industry-first report charts a path for satellite players to gain a better understanding of the end-user applications, technological components, and revenue opportunities through 2026 available using big data techniques. Beyond a technology and architecture approach, the report focuses on the range of business models used in the big data market. Diving into seven critical vertical markets such as Transportation, where providing end-to-end logistics tracking and management is becoming a ‘must have’ to Government & Military that leverage the latest in Earth Observation and Big Data techniques to develop sophisticated understandings of how threats are emerging across the world. In all use-cases, satellite Big Data adds value through optimization of end-user operational practices and aids in discovering new or emerging trends.
“Unlocking revenues via Big Data applications is not a new idea, but recent technology shifts in the satellite industry are reducing data acquisition, storage, and processing costs,” states Brad Grady, Senior Analyst and report co-Author. “Combined with the increasing sources and variety of data, the climate is better than ever before for enabling satellite Big Data applications, ultimately helping companies derive more insights to their most critical operational questions,” adds Grady.
The Big Data industry is still in its emerging phase, with many different technological and business approaches. While interest in Big Data is high, the development of monetizable applications still faces barriers in some verticals. However, Big Data is expected to play a transformational role in adding value to the entire ecosystem of satellite services, and even beyond it, given strategic investment and partnerships going forward.
“The discussion today has changed from how satellites can add value to the Big Data industry to where it will add value”, stated Prateep Basu, NSR Analyst and report co-author. “The success of the ‘satellite Big Data’ industry will be when people start referring to it as simply ‘Big Data’ industry, which is a much bigger ecosystem today and closer to consumer driven applications.”
Forecasting a demand for cost-savings and improved intelligence via data analytics, NSR’s Big Data via Satellite Report leverages NSR’s other market-leading reports on Satellite Earth Observation and M2M/IoT. Big Data via Satellite grounds the speculative conversation surrounding Big Data by taking a deep dive across seven vertical markets, assessing the satellite industry’s revenue generation potential in five regions.