Euroconsult projects a $ 7.5 billion market in Earth observation data and services by 2030
The Earth Observation (EO) market has seen funding changes, with operators of optical constellations going public to accelerate their deployment and develop new services. In addition, the OT market has seen a diversification of the payload with operators of emerging constellations offering new types of data (hyperspectral, infrared, etc.), thus hoping to unlock new markets and value-added services ( VAS). Leading global Euroconsult strategists provide in-depth data and services market analysis in new edition of their Earth observation: data and services market report.
The latest from Euroconsult Earth observation: data and services market (EODSM) for 2021 is available, providing a new global assessment of Earth Observation (EO) satellite commercial demand for imagery and value-added services, in 8 regions and 9 verticals. In 2020, the commercial market for OT Data was $ 1.6 billion, growing at a 5-year compound annual growth rate (CAGR) of 5%. It is expected to exceed $ 2.5 billion by 2030 at a CAGR of 4% throughout the decade. In its comprehensive overview of the OT market, EODSM 2021 observes that Defense retains its largest market place for trade data, with $ 1.8 billion in 2020, or roughly 45% of the total market.
The value-added services market is also expected to experience accelerated growth driven by supply of constellations, surpassing $ 5 billion by 2030 with a CAGR of 7% over the decade. Still fragmented, some emerging but promising applications such as LBS and insurance are expected to lead growth due to growing big data and data fusion capabilities.
The report also gives a comprehensive overview of major events that took place over the past year with unprecedented impact in the Earth observation industry, such as:
- First slowdown in EO fundraising in 2020 due to the Covid crisis which favored series B and C of the most advanced operators.
- An unprecedented rebound with billions raised during the PSPCs of the main constellation operators in 2021, which should trigger many mergers and acquisitions in the coming months.
- A new record of EO satellites launched due to the emergence of large SpaceX carpools, accelerating deployments and renewals of constellations.
- The first constellations reaching their full operational capacities, expecting to unlock new markets based on high revisit change detection services.
- A strong diversification of miniaturized payloads on board constellations with the emergence of the first hyperspectral and infrared commercial capacities.
As every year, the data and the VAS model have been refined based on interviews with the main operators. Additionally, refinement benefited from revenue releases from an increased number of publicly traded operators (Special Purpose Acquisition Company (SPAC), traditional IPO or business transfer), thus providing a more reliable estimate. fine of the OE market by resolutions.
In particular, the report examines the revenue by type of resolutions for multispectral imaging, now considering the revenue of incumbent operators and optical sensor constellations, given the maturation of the market. A change in supply is disrupting the market for 0.5-1m resolutions, as well as coarser resolutions with a wide range of constellation projects. Conversely, EODSM 2021 still observes a race to the most resolute, now commercially reaching less than 30 cm, with Airbus and Maxar leading the optical scene and ICEYE, Capella and Umbra in the synthetic aperture radar scene ( SAR), all targeting defense. Marlet.
Brand new to the 2021 edition, the report also highlights the growing influence that the development of new types of data is providing. Indeed, EODSM 2021 now offers a demand analysis by sensors that include references and a roadmap for the multispectral-VNIR, hyperspectral and multispectral-SWIR / MWIR / LWIR domains as well as the SAR domains by sectors.
Indeed, more affordable satellite constellations have created an opportunity for specialized sensors to meet the demands of a growing user base. These new sensors should exploit the open source data of the Copernicus and Landsat programs to provide a higher revisit and thus unlock new markets with new services ranging from the detection of water stress in vegetation to the anticipation of forest fires.
Premium Edition subscribers will have full access to a comprehensive market database by sensor type with details by major resolution, service market, and 9-sector breakdown for each sensor category, a comprehensive private sector Earth observation database. equity funds raised by companies from 2011 to 2020, as well as an extension of the 25-page report presenting 14 leading operators, 27 new commercial operators and a sample of pure value-added service providers specializing in the treatment of Artificial intelligence.
The 15th edition of Euroconsult’s Earth Observation: Data & Services Market is available for purchase now on their digital platform and is an essential tool for gaining a complete understanding of the current Earth observation market.