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Latin American EO market to grow to $350 million by 2024

France: Euroconsult, in its recent report — Earth Observation Requirements & Solutions in Latin America — claims that Latin America’s Earth observation market will grow with a 10% CAGR forecast over 2014-2024, leading to a $355 million commercial data market. Till 2014, $193 million had been invested in into the region’s Earth observation. This number is expected to rise considerably as more countries invest in the application. The present investing countries are also expected to expand their satellite portfolios. Moreover, the number of Earth observation satellites launched from Latin American programmes is likely to grow to more than 25 over the next 10 years, compared to just six launched in the last decade.

Source: Euroconsult