Posted by 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 entails the utilization of satellites equipped with diverse sensors and instruments to gather data and imagery of Earth’s surface, atmosphere, and oceans. This information is utilized for monitoring, analysis, and decision-making purposes. The satellites can capture data across a range of wavelengths, including visible, infrared, and microwave, providing a comprehensive view. This technology facilitates regular and frequent data collection, enabling monitoring of remote and inaccessible areas. Its applications include detecting illegal fishing, tracking shipping routes, and ensuring adherence to environmental regulations. Additionally, it plays a crucial role in forest conservation, estimation of carbon sequestration, and sustainable timber management, contributing to efforts in mitigating climate change. Furthermore, it is widely employed for locating and assessing valuable natural resources like minerals, oil, and gas reserves.
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Global Satellite-Based Earth Observation Market Trends and Drivers:
The increasing environmental concerns and the heightened emphasis on sustainable resource management are key drivers behind the demand for accurate, real-time data. Satellite-based solutions play a crucial role in providing valuable insights into climate change, deforestation, and monitoring natural resources, enabling governments and organizations to make informed decisions. The proliferation of small satellites is also contributing to improved access to space-based Earth observation. These cost-effective, compact satellites are lowering entry barriers for emerging space companies and startups, fostering innovation and competition in the market.
Furthermore, the growing demand for location-based services across various industries, including transportation, logistics, and mobile applications, is exerting a positive influence on the market. Ongoing advancements in satellite technology, such as higher-resolution imaging, enhanced spectral capabilities, and improved data processing, are broadening the scope of applications for Earth observation. The integration of artificial intelligence (AI) and machine learning is facilitating the extraction of meaningful insights from the vast amount of data collected by satellites, thereby fueling market growth. These technologies enable automated analysis, anomaly detection, and predictive modeling.
Collaborations between public and private entities are also contributing to market growth, with government agencies partnering with commercial satellite operators to enhance data-sharing initiatives and create a more extensive and accessible data ecosystem. Additionally, several countries are implementing regulations and frameworks for satellite operations and data dissemination to encourage industry participation and innovation.
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:
- Data
- Value Added Services
Breakup by End User:
- Defense and Intelligence
- Infrastructure and Engineering
- Agriculture
- Energy and Power
- Others
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- 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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