Satellite-based Earth Observation data market worth $1.6 billion

Satellite-based Earth Observation data market worth $1.6 billion

It’s latest report covers eight regions and across nine vertical markets.

The headline figures include the commercial market for EO data standing at $1.6 billion, in 2020, which represents a growth at a 5-year Compound Annual Growth Rate (CAGR) of 5%. It is expected to top $2.5 billion by 2030 at 4% CAGR throughout the decade, says Euroconsiult.

Satellite-based Earth Observation data market worth $1.6 billionThe defence sector maintains its place as the most significant market for commercial data, with $1.8 billion in 2020, or around 45% of the total market.

The Value-Added Services market is expected to see accelerated growth, driven by constellation supply, topping $5 billion by 2030 with 7% CAGR through the decade.

Promising applications in this field are identified as location-based services and insurance, which are expected to lead the growth due to the increasing role of big data.

Euroconsult notes a new record in EO satellites launched, with rideshares enabling constellation deployments and renewals to get faster.

It also covers revenues for multispectral imagery:

“A shift in supply disrupts the 0.5-1m resolution market, as well as coarser resolutions with a wide range of constellation projects. Conversely, EODSM 2021 is still observing a race to the most resolute, now commercially reaching less than 30cm, with Airbus and Maxar leading the optical scene and ICEYE, Capella, and Umbra in the Synthetic Aperture Radar (SAR) scene, all targeting the defense market.”

The research is featured in a new edition of its Earth Observation: Data & Services Market report.

Described as “a 360¬į view of demand and supply related to Earth observation data & services market” you can download it here.

For example, it features data demand categorised by user types (U.S. defense, non-U.S. defense, non-defense markets) and sensor types (optical resolutions i.e., VVHR (<0.5m), VHR (from 0.5m to 1m) and High-medium resolution above 1 meter, and SAR).

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