Technavio has been monitoring the satellite-based, Earth Observation (EO) market and reports the firm believes this market segment is poised to grow by $4.51 billion during the 2020 to 2024 timeframe.
The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
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The market is concentrated, and the degree of concentration will decelerate during the forecast period. Airbus SE, GeoOptics, Inc., Hispasat, ImageSat International NV, L3Harris Technologies, Inc., Maxar Technologies Inc., Planets Labs Inc., PlanetiQ, Thales Group, and UrtheCast Corp. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
Demand for smallsats has been instrumental in driving the growth of the market.
Technavio’s custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct and indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.