Commercial Earth Observation (CEO) Market Size - By Component (Satellite, Software, Services), By Application, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Global Forecast, 2023 – 2032

Commercial Earth Observation (CEO) Market Size

Commercial Earth Observation Market size was valued at USD 4.2 billion in 2022 and is anticipated to grow at a CAGR of over 8% by 2032 due to the increased collaboration between governments and private companies for satellite deployment & data sharing. Furthermore, the integration of Earth observation data with Artificial Intelligence (AI) and Machine Learning (ML) technologies is enhancing data analysis capabilities, opening up new opportunities in various applications. The increasing need for accurate geospatial data for urban planning, disaster management, and environmental protection. Also, technological advancements, such as the development of high-resolution satellites and AI-powered data analytics
 

Commercial earth observation refers to the use of satellite technology, software, and related services to collect, process & analyze data about the Earth's surface, atmosphere, and oceans. This data is used for various applications including mapping & surveying, agriculture, environmental monitoring, natural resource exploration, security & intelligence, and more.

The high cost of satellite development, launch, and maintenance can limit the accessibility of Earth observation data for some organizations. The industry is highly competitive with numerous satellite operators vying for business share, leading to pricing pressures. Data privacy concerns and regulatory issues related to satellite imagery are other major factors that can impede industry gains.
 

COVID-19 Impact

The COVID-19 pandemic had substantial impacts on the industry. Lockdowns and restrictions disrupted supply chains and reduced the workforce, affecting satellite deployment & data collection. However, the pandemic also highlighted the importance of Earth observation data for monitoring environmental changes and responding to crises. It accelerated the adoption of remote sensing technologies and increased the demand for data related to agriculture, climate change & disaster management.
 

Commercial Earth Observation Market Trends

The development of small satellites including CubeSats is making space more accessible for startups and research institutions. Data analytics platforms that process and interpret Earth observation data are becoming increasingly sophisticated. Increasing global concerns for environmental issues including climate change and deforestation have driven the use of Earth observation for sustainability and conservation efforts. Organizations leverage satellite data to track deforestation, monitor emissions, and assess the impact of climate change.
 

Commercial Earth Observation Market Analysis

Based on application, the commercial earth observation (CEO) market is segmented into mapping & surveying, agriculture, environmental monitoring, natural resource exploration, security & intelligence, and others. The agriculture segment generated around USD 1 billion in revenue in 2022. Agriculture is witnessing a surge in the use of Earth observation data. Farmers and agribusinesses leverage this data for precision agriculture, crop monitoring, yield prediction, and sustainable land management. The ability to optimize resource allocation and enhance crop productivity is accelerating segment progress. Earth observation enables precision farming practices including variable rate irrigation, soil nutrient management, and pest control. This reduces resource wastage and environmental impacts.
 

Based on component, the commercial earth observation market is divided into satellite, software, and services. The satellite segment held over 40% market share in 2022 and is expected to reach over USD 4 billion in revenue by 2032. The development of high-resolution imaging satellites including those with sub-meter and even sub-30-centimeter capabilities, has created new possibilities for detailed Earth observation. These satellites are used for applications such as urban planning, infrastructure monitoring, and disaster response. Also, the trend of launching small satellites including CubeSats and nanosatellites has democratized access to Earth observation data. These cost-effective satellites are being used by startups and research institutions for various applications.
 

North America held a significant share of over 35% in the commercial earth observation market in 2022. North America, particularly the U.S., has a thriving commercial space industry with numerous satellite operators and launch providers. This industry's evolution has led to an increase in the availability and affordability of CEO data. The presence of major space agencies, a robust commercial space sector, and a growing demand for Earth observation data in agriculture & disaster management. The region hosts many companies and startups focused on developing & utilizing advanced satellite technology, sensors, and data analytics.
 

Commercial Earth Observation (CEO) Market Share

The Commercial Earth Observation CEO market is highly competitive owing to the presence of key players such as

• Airbus S.A.S.
• The Boeing Company
• Thales Group

Commercial Earth Observation (CEO) Industry News

• In March 2023, Satellogic partnered with SkyFi, an EO data provider. SkyFi offers an app that allows individual users to operate satellites from their devices to acquire the precise location they are interested in. The partnership with Satellogic will allow SkyFi users to directly access Satellogic’s thirty-strong satellite constellation.
   

The CEO market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Billion) from 2018 to 2032, for the following segments:

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By Component, 2018 – 2032

• Satellite
• Software
• Services

By Application, 2018 – 2032

• Mapping & surveying
• Agriculture
• Environmental monitoring
• Natural resource exploration
• Security & intelligence
• Others

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • ANZ
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• MEA
  • GCC
  • South Africa
  • Rest of MEA