The Earth observation market is set for significant growth, according to the 17th edition of the Earth Observation Data and Services Market report by Novaspace.
Currently valued at $7.9 billion (US$5 billion), the EO market is projected to exceed $12.6 billion (US$8 billion) by 2033, with the services segment growing from $4.9 billion (US$3.1 billion) to $7.7 billion (US$4.9 billion) during the same period.
According to the report, defence contracts and advanced EO products will be the critical drivers behind the market’s sustained expansion.
Along with offering higher resolution, advanced spectral bands and 3D capabilities, EO services are increasingly leveraging cloud computing and AI for automated satellite image analysis.
These innovations enable large-scale monitoring and timely decision-making, addressing applications in the defence, sustainability and security sectors.
“Market growth isn’t just about replacing aerial geolocation systems,” said Alexis Conte, Manager at Novaspace and lead author of the report.
“It’s about scaling up EO monitoring capabilities to provide actionable insights over time. This focus on tracking and analysing activities at scale is driving both technological and market innovations.”
According to the report, North America is still the largest EO market, generating 44% of global revenues in 2023, followed by Europe at 22%.
However, the fastest growth is projected in Asian countries, which will account for 23% of the market by 2033.
