CubeSat Market worth $375 million by 2023  Exculsive Market Report by MarketsandMarkets. - PowerPoint PPT Presentation

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CubeSat Market worth $375 million by 2023  Exculsive Market Report by MarketsandMarkets.

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It discusses industry and technology trends currently prevailing in the market, along with drivers, restraints, challenges, and opportunities in the market. The CubeSat market is projected to grow from USD 152 million in 2018 to USD 375 million by 2023 – PowerPoint PPT presentation

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Title: CubeSat Market worth $375 million by 2023  Exculsive Market Report by MarketsandMarkets.


1
CubeSat Market worth 375 million by 2023 ?
Exculsive Market Report by MarketsandMarkets.
The CubeSat market report provides an analysis
of the market from 2018 to 2023. It discusses
industry and technology trends currently
prevailing in the market, along with drivers,
restraints, challenges, and opportunities in the
market. The CubeSat market is projected to
grow from USD 152 million in 2018 to USD 375
million by 2023, at a CAGR of 19.87 from 2018
to 2023. The CubeSat market in Asia Pacific is
expected to witness substantial growth during the
forecast period due to the number of CubeSats
launched every year and new start-up companies
developing advanced technologies for CubeSats.
The growing use of CubeSats for Earth
observation services and in government military
applications are some of the factors driving the
market in the US, China, Japan, and India. The
earth observation application segment is expected
to grow at the highest CAGR during the forecast
period. There has been an increase in the rate
of investments in the space industry by
government and commercial organizations which
has caused an increase in development of CubeSat
constellations for various applications such as
science technology, and communication
navigation, among others. Planet Labs (US) is a
global leader in manufacturing and launching of
3U satellites for Earth observation. These
satellites are used to take high-resolution
pictures of the Earth that
2
can be used for agriculture monitoring, natural
disaster warnings, and rescue missions. View
detailed Table of Content here -
https//www.marketsandmarkets.com/Market-Reports/c
ubesat-market- 58068326.html The size segment
of the CubeSat Market is expected to grow at the
highest CAGR during the forecast period. 3U
CubeSats can be used for high precision and
complex space missions, such as Earth
observation, meteorology, remote sensing,
maritime transportation management, disaster
management, military intelligence, and other
academic purposes. Based on end user, the
commercial segment of the CubeSat market is
projected to grow at the highest CAGR during the
forecast period. The growth of the commercial
segment can be attributed to the increase in the
rate of investments in the space industry by gover
nment and commercial organizations resulting
in an increase in the development of CubeSat
constellations for various applications such as
science technology, and communication
navigation, among others. In terms of geographic
coverage, the CubeSat market has been segmented
into 4 regions, namely, North America, Europe,
Asia Pacific (APAC), and the Rest of The World
(which includes the Middle East, Latin America,
and South Africa). North America is estimated to
account for the largest share of the
3
CubeSat market in 2018. The increasing demand for
satellite services from satellite operators and
government agencies is influencing the growth of
the CubeSat market in North America. The CubeSat
market is also expected to witness significant
growth in the emerging economies of the Asia
Pacific region, such as China, Japan, and India.
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