Asia-Pacific and LAMEA Satellite Based Earth Observation Market Expected to Reach $2,218.1 Million by 2033 - Allied Market Research

According to a recent report published by Allied Market Research, titled, “Asia-Pacific and LAMEA Satellite Based Earth Observation Market by Product Type, Satellite Orbit, End-use: Regional Opportunity Analysis and Industry Forecast, 2024-2033,” The Asia-Pacific and LAMEA satellite based earth observation market size was valued at $1,399.4 million in 2023, and is projected to reach $2,218.1 million by 2033, registering a CAGR of 7.4 % from 2024 to 2033.

The Asia Pacific and LAMEA satellite based earth observation market size has experienced robust growth, driven by the increasing deployment of satellite constellations and the rising need for precise environmental data. Advancements in satellite technology, encompassing enhancements in sensors, imaging precision, and data processing capabilities, facilitate increasingly precise and detailed earth observation. These technological strides spur innovation, creating lucrative opportunities across diverse sectors. Moreover, a notable shift has been observed toward downsizing satellite payloads and embracing CubeSats—a class of nano- and microsatellites. This trend allows for the deployment. The Asia Pacific and LAMEA satellite based earth observation market share is largely held by leading companies that engage in designing innovative satellites, and improvement in the sensor technologies.

By leveraging constellations of these diminutive satellites, the frequency of revisits and broader coverage of the earth's surface increases, which, in turn, augments the market growth. In addition, the rise in demand for geospatial data spans numerous applications such as urban planning, agriculture, disaster response, and climate monitoring. The Asia Pacific and LAMEA satellite based earth observation market growth is propelled by the increasing adoption of satellite technology in various sectors, the expansion of satellite services, and the development of innovative applications for Earth observation data.

The Asia Pacific and LAMEA satellite based earth observation market opportunity is expanding, with emerging markets showing high potential for growth due to increased investments in space infrastructure and the integration of satellite data with other technologies. Satellite-based earth observation, offering comprehensive and timely data, plays a pivotal role in facilitating informed decision-making within these domains, thereby propelling the market expansion. For instance, in October 2023, Suhora Technologies, an advanced monitoring and analytical geospatial solutions provider, announced a partnership with ICEYE, a satellite technology company, to access ICEYE's high-quality satellite imagery, enhancing Suhora's ability to provide advanced monitoring and analytical geospatial solutions to its users. Prominent Asia Pacific and LAMEA satellite based earth observation market trends include the growing use of small satellite constellations, advancements in artificial intelligence for data analysis, and increased collaboration between public and private sectors to enhance satellite-based services.

Satellite-based earth observations in Asia-Pacific and LAMEA are expected to gain high traction in the coming years owing to increase in demand for high resolution earth observation data, rise in applications of earth observation data in diverse sectors such as agriculture, urban planning, and disaster management, and partnerships facilitating miniaturization of satellite sensors. As governments, organizations, and industries worldwide seek more comprehensive data and insights to understand and mitigate the impacts of climate change, there is a growing demand for earth observation capabilities tailored to monitoring greenhouse gases and environmental changes. An in-depth Asia Pacific and LAMEA satellite based earth observation market analysis highlights significant opportunities for growth, particularly in the areas of disaster management and climate monitoring, supported by technological advancements.

In September 2023, Mo Lin highlighted that the climate change is expected to be one of the key focuses of Chinese aerospace for future earth observation satellites. Philippe Pham, Senior Vice President and Head of Earth Observation and Science Programs at Airbus stated that the company partnerships would be crucial for miniaturizing satellite sensors and unlocking their potential, which could lead to exponential growth in the Earth observation market over the next five to seven years. The Asia Pacific and LAMEA satellite based earth observation market size has experienced robust growth, driven by the increasing deployment of satellite constellations and the rising need for precise environmental data.

The Asia Pacific and LAMEA Satellite Based Earth Observation Market Share is largely held by leading companies that specialize in high-resolution imaging and data analytics, catering to diverse industries such as agriculture, defense, and urban planning. Satellite imagery comprises visual depictions of earth's surface captured by sensors on satellites. These images offer detailed views of land cover, vegetation, urban & natural landscapes, and water bodies. Earth observation data encompasses geospatial details such as geographic coordinates, elevation data, and terrain characteristics. This information serves vital roles in mapping, navigation, and applications within geographic information systems (GIS). The demand for actionable insights and solutions for climate change mitigation is rising to address the increased frequency and severity of extreme weather events. For instance, CSIRO and Geoscience Australia started an initiative called the Earth Observation for Climate Smart Innovation (EOCSI).

This initiative is helpful to encourage scientist, students, and innovators from Australia, and Southeast Asia to develop marketable products and services that use earth observation technology to address impacts. Numerous companies in the industry are organizing events to spread awareness of the application of earth observation data in the Asia-Pacific region. Companies host user event for select customers and partners in the Asia-Pacific and Australia regions. This event aims to share insights and learn from each other about applying EO data effectively.

According to Ben Allard, the VP sales of Planet, an earth observation company states that the Asia-Pacific region is witnessing an explosion of EO innovation focused on sustainability. For example, a Planet partner in Thailand provides farmers with a digital solution to monitor, report, and verify land-use changes, rewarding them for sustainable practices. There is a growing interest in how satellite data and analysis can be integrated into sustainability practices.

This includes helping companies track ESG goals and governments ensure compliance, particularly with the new EU Deforestation Regulation affecting Asia-based suppliers. Therefore, the use of earth observation data for such real-time weather forecasting, tracking and achieving Environmental, Social, and Governance (ESG) goals, agriculture, and defense and intelligence is expected to propel the growth of the market.

Key Findings of The Study

• On the basis of product type, the value added services segment is anticipated to exhibit a remarkable growth during the forecast period.
• On the basis of satellite orbit, the medium earth orbit segment is anticipated to exhibit a remarkable growth during the forecast period.
• On the basis of end use, the energy and raw materials segment is anticipated to exhibit remarkable growth during the forecast period.
• On the basis of region, LAMEA is anticipated to exhibit remarkable growth during the forecast period

The key players analyzed in this report are Airbus, Satellogic, Maxar Technologies, Planet Labs, BlackSky, MDA, Spire Global Inc, SpaceWill, SATPALDA International, Bayanat AI. The companies have adopted strategies such as collaboration, contract, partnership, product development, product launch, and others to improve their market positioning.