Satellite imagery advancements to drive Europe’s EO market: Report

Satellite imagery advancements to drive Europe’s EO market: Report

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UK: A group of analysts from Technavio have brought out report on satellite-based Earth Observation (EO) market. The report forecast the EO market in Europe to grow at 15.65% CAGR by 2020.

To calculate the market size, the report considers revenue generated from Data and value-added services (VAS), including image and data processing and information products; EO services and applications related to defence and intelligence, government authorities, energy and natural resources, navigation and location-based services, and living resources; and EO applications in the insurance, manufacturing, and agriculture industries.

The analysts highlight technological advances in satellite imagery; increased government spending on space programs; strong coordination of public sector EO initiatives; and association between ESA and other major EO organizations factors that are contributing to the growth of the satellite-based Earth observation market in Europe.

Taking one by one, on technological advances in satellite imagery, the report talks about the technology used to capture satellite images has seen a marked improvement over the years. As a result, the expectations of end-users have risen.

On increased government spending on space programs, it says, government spending on space programs have reduced considerably in recent years. It adds that global economic recession and the 2010 debt crisis of Europe are some of the factors that affected space programs.

As far as strong coordination of public sector EO initiatives are concerned, Rakesh Kumar Panda, a lead analyst at Technavio for M2M and connected devices explains, “At the national level, some of the European GEO members such as Germany, Greece, and Spain have developed or are intending to establish national management structures to coordinate GEO contributions, EO investments, strategies, activities, and programs,”.

For association between ESA and other major EO organizations, it says ESA plays an important role as a stakeholder in the Copernicus program as well as in the implementation of GEOSS. It is responsible for delivering and managing the portal of GEOSS, and offering satellite-based EO assets for many GEO societal challenges (including disasters and climate change) and GEO initiatives (including AfriGEOSS and GFOI).

Source: Technavio