Global Satellite-Based Earth Observation Market Overview 2023-2028
IMARC Group, a leading market research company, has recently releases report titled “Satellite-Based Earth Observation Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global satellite-based earth observation market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
The global satellite-based earth observation market size reached US$ 3.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 4.7 Billion by 2028, exhibiting a growth rate (CAGR) of 5.7% during 2023-2028.
Satellite-based earth observation involves the use of satellites equipped with various sensors and instruments to collect data and imagery of the surface, atmosphere, and oceans of the Earth for monitoring, analysis, and decision-making. It can capture data across different wavelengths, including visible, infrared, and microwave. It offers regular and frequent data collection and can monitor remote and inaccessible areas. It aids in detecting illegal fishing, tracking shipping routes, and ensuring compliance with environmental regulations. It assists in forest conservation efforts, carbon sequestration estimation, and sustainable timber management, contributing to climate change mitigation. It is widely used for locating and assessing valuable natural resources such as minerals, oil, and gas reserves.
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Global Satellite-Based Earth Observation Market Trends and Drivers:
The growing environmental concerns and the rising need for sustainable resource management represent one of the primary factors catalyzing the demand for precise and real-time data. Satellite-based solutions provide invaluable insights into climate change, deforestation, and natural resource monitoring, empowering governments and organizations to make informed decisions. Additionally, the proliferation of small satellites is improving access to space-based Earth observation. These cost-effective, miniaturized satellites are minimizing the barrier to entry for emerging space companies and startups, fostering innovation and competition in the market. Along with this, the growing demand for location-based services in various industries, including transportation, logistics, and mobile applications, is positively influencing the market. Apart from this, continuous advancements in satellite technology, including higher-resolution imaging, improved spectral capabilities, and enhanced data processing, are expanding the range of applications for Earth observation. Moreover, the advent of artificial intelligence (AI) and machine learning are supporting the extraction of meaningful insights from the vast amount of data collected by satellites, which is strengthening the growth of the market. These technologies enable automated analysis, anomaly detection, and predictive modeling. Along with this, the rising collaborations between public and private entities are bolstering the market growth. Government agencies are partnering with commercial satellite operators to enhance data-sharing initiatives, thereby fostering a more extensive and accessible data ecosystem. Besides this, the governing authorities of several countries are implementing regulations and frameworks for satellite operations and data dissemination to encourage industry participation and innovation. In addition, the integration of satellite-based Earth observation with the Internet of Things (IoT) technologies is strengthening the growth of the market. IoT devices, equipped with sensors, can transmit data via satellite networks, enabling real-time monitoring of assets, infrastructure, and environmental conditions, further expanding the market reach and applications. Moreover, the escalating demand for global connectivity, including broadband internet access in remote areas, is driving the deployment of satellite constellations.
Global Satellite-Based Earth Observation Market 2023-2028 Analysis and Segmentation:
Top Key Players covered in this report are: Airbus SE, BAE Systems plc, GeoOptics Inc., ImageSat International N.V., L3Harris Technologies Inc., Lockheed Martin Corporation, Maxar Technologies Inc., Northrop Grumman Corporation, OHB System AG (OHB SE), Planet Labs PBC, Raytheon Technologies Corporation and Thales Group.
The report segmented the market on the basis of region, solution and end user.
Breakup by Solution:
- Value Added Services
Breakup by End User:
- Defense and Intelligence
- Infrastructure and Engineering
- Energy and Power
Breakup by Region:
- North America
- United States
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023- 2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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