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Precipitation estimates from reanalyses and satellite observations are routinely used in hydrologie applications, but their accuracy is seldom systematically evaluated. This study used high-resolution gauge-only daily precipitation analyses for Australia (SILO) and South and East Asia [Asian Precipitation--Highly-Resolved Observational Data Integration Towards Evaluation (APHRODITE)] to calculate the daily detection and accuracy metrics for three reanalyses [ECMWF Re-Analysis Interim (ERA-Interim), Japanese 25-yr Reanalysis (JRA-25), and NCEP-Department of Energy (DOE) Global Reanalysis 2] and three satellite-based precipitation products [Tropical Rainfall Measuring Mission (TRMM) 3B42V6, Climate Prediction Center morphing technique (CMORPH), and Precipitation Estimation from Remotely Sensed Imagery Using Artificial Neural Networks (PERSIANN)]. A depth-frequency-adjusted ensemble mean of the reanalyses and satellite products was also evaluated. Re-analyses precipitation from ERA-Interim in southern Australia (SAu) and northern Australasia (NAu) showed higher detection performance. JRA-25 had a better performance in South and East Asia (SEA) except for the monsoon period, in which satellite estimates from TRMM and CMORPH outperformed the reanalyses. In terms of accuracy metrics (correlation coefficient, root-mean-square difference, and a precipitation intensity proxy, which is the ratio of monthly precipitation amount to total days with precipitation) and over the three subdomains, the depth-frequency-adjusted ensemble mean generally outperformed or was nearly as good as any of the single members. The results of the ensemble show that additional information is captured from the different precipitation products. This finding suggests that, depending on precipitation regime and location, combining (re)analysis and satellite products can lead to better precipitation estimates and, thus, more accurate hydrological applications than selecting any single product. [ABSTRACT FROM AUTHOR]