Global microsatellite marked to reach $2.5B

The global nanosatellite and microsatellite market will reach $2.5 billion by 2020, according to a forecast by market research firm Research and Markets. This reflects a compound annual growth rate of 23.2 percent from $889.8 million in 2015.

The strongest growth will be in Earth observation and remote sensing. North America will be the largest market.

Demand will also be driven by the "low cost of design, increasing demand for miniature satellites, and huge investment from Silicon Valley," the report said.

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