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Satellite-Based Earth Observation Market| Global Opportunity Analysis and Industry Forecast, 2020–2027
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COVID-19 Scenario analysis:
• Due to COVID-19 situation, the production of new satellites across the globe, has been hampered due to complete lockdowns of industries and government restrictions on travelling.
• The research & development in earth observation satellites (remote sensing technology) has been adversely affected due to declared lockdowns and travel restrictions due to COIVD-19.
• Business development possibility of satellite-based earth observation companies has been adversely affected due to overall shortage in demand of services of earth observation satellites due to COVID-19 pandemic.
• Demand in satellite-based earth observation market may rise in future as worldwide governments has started to loosen up the restrictions.
• Backlogs of several space projects have been created due to COVID-19. Such projects are expected to get into shape post COVID-19 situation, which will contribute to considerable rise in demand of satellite-based earth observation market.
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Top impacting factors: market scenario analysis, trends, drivers and impact analysis
Increase in use of satellites for advanced environment monitoring and technological improvements in satellite imagery are the factors that drive the satellite-based earth observation market. However, presence of open data from major countries, such as EOSDIS from USA & Copernicus from Europe is hampering the market growth. Growth in demand for small satellites is anticipated to contribute in the growth of satellite-based earth observation market.
Increase in use of satellites for advanced environment monitoring
Satellites are being used extensively for monitoring the environment due to its capability to monitor macroscopic environment and forecasting short-term & long-term weather events which cannot be effectively forecasted from ground-based observations. Moreover, earth observation satellites are being used to tackle 21st century challenges such as climate change, resource management, and disaster mitigation. Due to such wide application of earth observation satellites, their use has been increased; thereby, fueling the growth of the satellite-based earth observation market.
Technological improvements in satellite imagery
Satellite-based earth observation satellites are equipped with high resolution cameras & advanced remote sensing technology, which has improved quality of satellite-based earth observation images. Such high-quality images & related data has a vast demand in various sectors such as science, research & development, and defence. Hence, technological improvements have raised demand of satellite data and thereby, boosting the growth of the global satellite-based earth observation market.
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Key benefits of the report:
• This study presents the analytical depiction of the satellite-based earth observation industry along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global satellite-based earth observation market share.
• The current market is quantitatively analyzed from 2020 to 2027 to highlight the global satellite-based earth observation market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
• The report provides a detailed global satellite-based earth observation market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in the global satellite-based earth observation market research report:
• Which are the leading market players active in the global satellite-based earth observation market?
• What are the current trends that will influence the market in the next few years?
• What are the driving factors, restraints, and opportunities in the market?
• What are the projections for the future that would help in taking further strategic steps?
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