Global Satellite-based Earth Observation Market by Product Types (VAS and Data), Applications (Defense, Weather, Lbs., Energy, and Other Applications), and Regions (Asia Pacific, Europe, North America, the Middle East & Africa, and Latin America)
The Global Satellite-based Earth Observation Market is expanding at a substantial CAGR of around 13% during the forecast period, 2020 – 2026.
Satellite observations play a vital role as they help in the identification of environmental changes, weather forecasts, map making etc. with the help of satellites orbiting around the planet. The satellite-based earth observation technology stores and captures information from satellite based on biological, physical, and chemical compositions of earth for surveillance, monitoring, and decision making in numerous verticals including natural resource management, defense and intelligence, energy and power, infrastructure and engineering, and disaster management.
Market Drivers, Restraints, Opportunities, and Trends:
Recent technological breakthroughs in data collection and storage is boosting the growth and expanding the satellite-based earth observation market.
In terms of variety and quality of resolution, there is a rapid hike in the availability of high-quality earth observation data.
Earth Observation (EO) is now recognized as an integral tool to tackle important challenges of 21st century such as resources management, climate change, or disaster mitigation.
EO helps in providing crucial information regarding industrial activities and societal challenges in various industries including agriculture, meteorology, change detection etc.
Rising frequency of the launch of satellites every year and massive amount of data provided by them are helping in providing lucrative opportunities in this sector.
Presence of open data such as EOSDIS from the US, Copernicus from Europe, etc. are likely to restrain the advantages offered through data collection and value-added services from observation.
Scope of the Report
The report on the global satellite-based earth observation market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Attributes Details
Base Year 2019
Historic Data 2015–2018
Forecast Period 2020–2026
Regional Scope Asia Pacific, Europe, North America, the Middle East & Africa, and Latin America
Report Coverage Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Global Satellite-based Earth Observation Market Report Segment Insights:
Based on product types, the global satellite-based earth observation market is divided into VAS and data. Satellite-base EO VAS is expected to have a significant growth in the forecasted period. VAS is generally used by government agencies and defense sector for weather forecasting, city planning, pollution monitoring, and forestry mapping. The increasing adoption of VAP by private organizations is propelling the growth of this segment. Presence of open data such as EOSDIS from the US, Copernicus from Europe, etc. are likely to restrain the advantages offered through data collection and value-added services from observation. However, new technological advancements are set to overcome this problem.
In terms of applications, the market is fragmented into defense, weather, Lbs., energy, and other applications. Rising frequency of the launch of satellites every year and massive amount of data provided by them are helping in providing lucrative opportunities in this sector. Weather forecasting and energy are the widely observed applications in the segments. Defense segment is likely to have a rapid growth due to the availability of data which is to be used in research and confidential purposes with the advancements in technology.
On the basis of regions, the Global Satellite-based Earth Observation Market is segmented into Asia Pacific, Europe, North America, the Middle East & Africa, and Latin America. Asia Pacific region is expected to have a substantial growth in this particular segment due to the increasing adoption of EO data and services in numerous applications. Rising usage of location-based VAS is set to propel the market growth in this segment. Approximately 32% of the total market share will be from the APAC region with China and Russia being the critical markets. North America is also set to have a steady growth due to governments investments and funding policies.
Competitive Landscape:
Major companies in the global satellite-based earth observation market include Airbus SE, GeoOptics, Hispasat, ImageSat International NV, L3Harris Technologies, Maxar Technologies Inc, Planets Labs Inc, PlanetiQ, Thales Group, and UrtheCast Corp. The market position is at the center of being either fragmented or consolidated depending on the technological advancements taking place in the forecasted period.
In October 2018, Jiuquan Satellite Launch Center in China launched two remote sensing satellites which are the part of Yaogan-32 family. After entering their planned orbits, they may be used for electromagnetic environmental surveys and other technological tests.
In April 2019, the transmission of EO data was tested by German Aerospace center and University of Stuttgart by using laser communication technology. German aerospace center developed optical space infrared downlink system (OSIRIS) laser communications terminal which is responsible for carrying out transmission tests.
The global satellite-based earth observation market has been segmented on the basis of
Product Types
VAS
Data
Applications
Defense, Weather
Energy
Other Applications
Regions
Asia Pacific
Europe
North America
Middle East & Africa
Latin America