Earth Observation Market to Generate $73 Billion by 2030
The Earth Observation market presents a $73 billion opportunity by 2030, according to the recently-released Satellite-Based Earth Observation, 13th Edition (EO13) from Northern Sky Research. The report identifies multiple trends converging to achieve a longstanding industry goal, an open EO market driven by Gov/Mil customers and rapidly growing commercial demand.
“Earth Observation is seeing A LOT of market excitement, due to high visibility announcements over the last year, along with interest from the Financial and ESG sectors.”
Report Co-Author Shivaprakash Muruganandham.
“Earth Observation is seeing A LOT of market excitement, due to high visibility announcements over the last year, along with interest from the Financial and ESG sectors,” said report Co-Author Shivaprakash Muruganandham. “The industry continues to shift downstream, aided in part by a parallel move towards service-oriented models in the ground segment, further enhancing long-term revenue opportunities.”
With downstream Information Products and Big Data Analytics growing fast, new capabilities such as persistent monitoring, ground segment virtualization and cloud computing are expected to drive the market toward becoming a more consumer-friendly sector over the next decade.
As operators look toward fusion of multiple data types to provide information products and analytical insights, a lack of standardization will slow market uptake in the short term. However, improvements on the distribution of data and services will catch up, with volumes of supply coming via dozens of constellations.
“Non-Imagery data and derived products are a fast-emerging market, driven by the need for alternative data sources for niche applications such as RF monitoring and GHG emissions observation.” explains report Co-author Charlotte VanCamp. “This relatively nascent sector is expected to further boost EO market revenues in the medium to long-term.”
“With development of downstream infrastructure, investments into high volume supply and improved data quality and variety, the market is finally moving into position to consumer needs,” Muruganandham said
NSR’s Satellite-Based Earth Observation, 13th Edition (EO13) offers a comprehensive view of the upstream and downstream satellite-based Earth observation market. NSR’s EO13 details the most comprehensive analysis available for every commercially available resolution, vertical, region, and data type.
(Source: Northern Sky Research news release)