Satellite-based Earth Observation Market by Type, Application, and Geography - Forecast and Analysis 2020-2024
- Published: Apr 2020
- Pages: 120
- SKU: IRTNTR40651
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The satellite-based earth observation (EO) market size has the potential to grow by $ 4.51 billion during 2020-2024, and the market’s growth momentum will decelerate during the forecast period because of the steady increase in the year-over-year growth.
This satellite-based earth observation market research report analyzes the market’s competitive landscape and offers information on several market vendors, including Airbus SE, GeoOptics, Inc., Hispasat, ImageSat International NV, L3Harris Technologies, Inc., Maxar Technologies Inc., Planets Labs Inc., PlanetiQ, Thales Group, and UrtheCast Corp. Also, the report provides a detailed analysis of the market by type (VAS, and data), application (defense, weather, LBS, energy, and other applications), and geography (APAC, Europe, MEA, North America, and South America).
Statistical Analysis of Satellite-Based Earth Observation Market
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Market Competitive Analysis
The satellite-based earth observation market is concentrated. Market vendors are increasingly focusing on M&A activities and expanding their EO satellite and services portfolio. Maxar Technologies Inc., Planets Labs Inc., PlanetiQ, Thales Group, and UrtheCast Corp. are some of the major market participants.
Factors such as the use of satellites for advanced environment monitoring will offer immense growth opportunities. However, challenges such as the high cost of satellite infrastructure will impede the growth of the market participants. To boost the satellite-based earth observation market demand vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
This satellite-based earth observation market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies which will help clients improve their market position. The report also covers details on the market’s competitive landscape and provides information on the products offered by various companies. Moreover, this report includes information on the upcoming satellite-based earth observation market trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.
This satellite-based earth observation market analysis report provides information on the production, sustainability, and prospects of several leading companies, including:
- Airbus SE
- GeoOptics, Inc.
- ImageSat International NV
- L3Harris Technologies, Inc.
- Maxar Technologies Inc.
- Planets Labs Inc.
- Thales Group
- UrtheCast Corp.
Satellite-Based Earth Observation Market: Segmentation by Region
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APAC will offer several growth opportunities to market vendors during the forecast period. The increasing adoption of EO data and services in several applications and industries and the growing use of location-based VAS are some of the significant factors that will influence satellite-based earth observation market growth in this region.
Almost 32% of the market’s growth will originate from APAC during the forecast period. China and Russian Federation are the critical markets for satellite-based earth observation in APAC. Market growth in this region will be faster than the growth of the market in Europe, North America, and South America.
Satellite-Based Earth Observation Market: Segmentation by Type
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Satellite-based EO VAS is generally used by government agencies and the defense sector for city planning, weather forecasting, forestry mapping, and pollution monitoring. The growing adoption of VAS by private companies and organizations will fuel the growth of the satellite-based earth observation market in this segment.
Market growth in this segment will be faster than the growth of the market in the data segment. This report provides an accurate prediction of the contribution of all the satellite-based earth observation market segmentation.
Satellite-based Earth Observation Market Dynamics
The use of satellites for advanced environmental monitoring will be a significant factor driving the growth of the satellite-based EO market. The use of observation satellites for environmental monitoring is increasing because of its ability to provide real-time, round-the-clock information on atmospheric features and occurrences that are vital for accurate weather forecasting, including temperature, wind, and weather patterns. Satellites are also being used for the monitoring and observation of greenhouse gas emissions, changes in polar ice, deforestation, wildfires, and coral bleaching. Moreover, technological advancements in sensing and imaging fields have enabled the development of superior observation satellites for environmental monitoring that can capture higher resolution images and measure several metrics. Hence, with the rising need for advanced environment monitoring, the demand for satellite-based earth observation will also increase.
- The low cost and low capital investment have boosted the demand for small satellites for various applications.
- The lower cost of small satellites allows a higher number of satellites within a constellation and simultaneous measurement and collection of real-time data which makes it ideal for scientific explorations and Earth observations.
- Small satellites can accommodate an array of scientific measurement and communication instruments.
- Government organizations, private corporations, and scientific foundations use small satellites for specific applications, including weather observations and mineral exploration.
- The growing demand for small satellites, which is one of the critical satellite-based earth observation market trends, will positively influence the market growth during the next five years.
- Although the growth momentum will decelerate, the satellite-based earth observation market will continue to register a CAGR of over 13% during the forecast period.
Key Highlights of the Satellite-Based Earth Observation Market Report for 2020-2024
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will drive satellite-based earth observation market growth during the next five years
- Precise estimation of the satellite-based earth observation market size and its contribution to the parent market
- Satellite-based earth observation market facts & figures and accurate predictions on upcoming trends and changes in consumer behavior
- Estimation of potential opportunity for satellite-based earth observation market by type, application, and geographic segments
- Identification of key countries across APAC, Europe, MEA, North America, and South America
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of satellite-based earth observation vendors
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Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape
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Frequently Asked Questions?
- Russian Federation
- Use of satellites for advanced environment monitoring
- Growing demand for small satellites
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