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Global Earth Observation System (EOS) Market Outlook, Size, Share and Forecast 2022 to 2030
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Market Synopsis: Global Earth Observation System (EOS) Market
The primary work of earth observation system is to gather information related to geographical aspect of the earth. Earth observation systems have many applications across a wide variety of industries, includes location-based services, environment & natural resource monitoring, defence, power & energy, and other complement market. The rising growth of infrastructure and location-based services activities, increases the need of advanced image-enhancing equipment in results, increases the demand for earth observation system across the globe. The uncertain situation due to the coronavirus may affect the trend of the global earth observation system market in the next few years. The Global Earth Observation System (EOS) Market is expected to register steady growth during the forecast period, 2022-2030.
Impact of Covid-19 pandemic on market
COVID-19 crisis impacted manufacturers involved in various industries and obstructed the entire supply chain, from raw materials to end product delivery. Moreover, government and policymakers are mostly engaged in handling and controlling the medical crisis to meet a healthy and safe environment for the nation's population. The lack of understanding to manage economic risks and the business sector is expected to put the economic and industrial growth towards vulnerability. The report will include the impact of COVID-19 on the target market in detail.
Market Dynamics: Global Earth Observation System (EOS) Market
The earth observation industry is continually developing, anticipating integration of new technologies, unconventional data sources, and sensing modalities. As increasing the demand for earth observation data explodes to identify climate change, natural disaster, global population challenge, the need of earth observation data on small scale as well as large scale, increases, thereby it likely to drive the growth of the global earth observation system market overt the forecast period.
Moreover the high initial investment cost is expected to hinder the growth of the global earth observation system market. Also, the coordination among different databases, customization, and reusability are some other reason which might hamper the market growth.
Advancement and adoption of new technology along with use of reusable rockets have brought many opportunities for the aerospace. Also, mass production of satellites has become a trend in the aerospace domain as a result the satellite launching cost is reduced significantly, so the Earth observing system manufacturers are expected to come across a great opportunities over the forecast period.
Market Segmentation: Global Earth Observation System (EOS) Market
The Global Earth Observation System (EOS) Market is segmented by solution, application, and regions.
The Global Earth Observation System (EOS) Market is segmented based on the basis of solution as Commercial data and Value-added services. The commercial data segment holds major market share as several companies are operational in commercial verticals in entertainment and disaster management.
Based on the application, the Global Earth Observation System (EOS) Market is segmented into Infrastructure, Location-based Services, energy & power, disaster management, and other application. Among the segmented applications, the Infrastructure application segment is estimated to hold the largest market share of more than 50%. The demand from the Infrastructure industry is supported by the continuous infrastructural development of highways, airports, skyscrapers, and others propelling the necessity of earth observation system over the forecast period.
Regional Overview: Global Earth Observation System (EOS) Market
In the region, the global earth observation system (EOS) Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America’s earth observation market is projected to endure its dominance due to advancement of space technologies includes reuse rocket. In addition, the strong support of government, in the form of grants to academic institutions and companies, to develop advanced imaging devices.
The Asia Pacific segment has been evolved as a potential market attributing increase in adoption of advanced technologies for improving the infrastructure of developing countries. In addition several companies are operational in commercial verticals in media and entertainment and disaster management, with the help of earth observation system.
Competitive Landscape: Global Earth Observation System (EOS) Market
The key players operating in the Global Earth Observation System (EOS) Market include Airbus group, Boring, BAE Systems, Harris Corporation, Lockheed Martin Corp., UrtheCast Corp., OHB Group, Thales Group, Raytheon Intelligence & Space, Northrop Grumman Corporation, Planet Labs Inc., Maxar, MDA Corp., Harris Corporation and other players.
Investment in new product categories with a differentiated pricing strategy enables the manufacturer to lure new customers and gain prominent market share in the various product category. Moreover, the industrial giants are building a strong distribution network to penetrate the potential market.
Detailed Segmentation: Global Earth Observation System (EOS) Market
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Attribute |
Details |
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The base year for estimation |
2020 |
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Forecast period |
2021 – 2028 |
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Market representation |
Revenue in USD Million & CAGR from 2021 – 2028 |
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Market Segmentation |
By Solution – Commercial data, Value-added services By Application – Infrastructure, Location-based Services, Energy & Power, Disaster Management, and Other Application |
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Regional Scope |
North America - U.S., Canada Europe - Germany, UK, Spain, France, Italy, Russia, Rest of Europe Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific Latin America - Brazil, Mexico, Argentina, Rest of Latin America Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa |
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Report coverage |
Revenue forecast, company share, competitive landscape, growth factors, and trends |
Segments Covered in the Report:
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2021 to 2028. For the purpose of this study, analyst has segmented the global Earth Observation System (EOS) Market report based on the solution, application, and region.
Global Earth Observation System (EOS) Market, By Solution:
Global Earth Observation System (EOS) Market, By Application:
Global Earth Observation System (EOS) Market, By Region:
Company Profile:
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