The satellite-based earth observation market share in Europe will post an incremental growth of USD 308.60 million, progressing at a CAGR of 7.38% during the forecast period. The growing use of satellites for environmental monitoring will offer immense growth opportunities to market vendors. The satellite-based earth observation market in Europe is concentrated, and the vendors are deploying growth strategies such as low-pricing strategies and strengthening the local customer base to compete in the market.
Technavio’s report on “Satellite-based Earth Observation Market in Europe by Type, Application, and Geography - Forecast and Analysis 2022-2026" provides a detailed analysis of the prevalent market forces, trends, and challenges likely to impact the market in focus.
The satellite-based earth observation market in Europe is segmented by type (VAS and data), application (urban development and cultural heritage, energy and raw materials, climate, Agriculture, and others), and geography (Russian Federation, UK, and Rest of Europe).
The growth of the satellite-based earth observation market size in Europe by the VAS segment will be significant during the forecast period. The growth of the segment is attributed to the increasing adoption of VAS among private companies and organizations.
The growing use of satellites for environmental monitoring will directly influence the satellite-based earth observation market in Europe. In addition, the growing demand for small satellites is the major satellite-based earth observation market trend in Europe that will positively impact the market growth. However, factors such as the competition from alternative technologies will hamper the satellite-based earth observation market growth in Europe.
The market is fragmented due to the presence of several players. Some of the major satellite-based earth observation market vendors in Europe are ACRI-ST, Airbus SE, Assimila Ltd., BMT Group Ltd., CGI Inc., cloudeo AG, EarthDaily Analytics, ImageSat International, Maxar Technologies Inc., and Thales Group
To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions.
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Precise market size estimation during the forecast period 2022-2026.
CAGR of the satellite-based earth observation market in Europe forecast during 2022-2026.
Market-level data on units, average selling prices, and values of the satellite-based earth observation market share in Europe.
Prediction of the upcoming trends, drivers, and factors that challenge the growth of the satellite-based earth observation market in Europe.
Satellite-based earth observation industry growth across Europe