Press release
Australia Earth Observation Market Size, Trends, Shares, Revenue, Share Estimation, Challenges, Business Opportunities, Forecast 2022-2027 | Surrey Satellite Technology Ltd., Lockheed Martin Corporation, BAE System,
The global Australia earth observation Market size was US$ 50.58 million in 2021. The global Australia earth observation Market is forecast to grow to US$ 71.36 million by 2030 by registering a compound annual growth rate (CAGR) of 3.5% during the forecast period from 2022 to 2030.
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Factors Affecting the Market
Technology is maintaining a vital place across all industrial verticals, including healthcare, automotive, construction, etc. Companies leverage cloud and service-based services to propel innovation and bring significant revolution. Thus, it will drive the growth of the global australia earth observation market during the forecast period.
Growing investments in this market are expected to boost the growth of the overall market. For instance, the US Federal Government set aside $58.4 billion budget for IT at civilian Federal agencies in 2022, which is an increase of 2.4 percent from 2021.
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COVID-19 Impact Analysis
The COVID-19 outbreak forced many organizations to adapt to digital methods, which rapidly accelerated digital transformation. Work environments changed abruptly as remote work became the new normal among organizations. As a result, it is forecast to strengthen the potential scope of the australia earth observation market in the coming years. This report by Astute Analytica covers all the factors depicting the impact of the pandemic.
Segmentation Overview
The following are the various segments of the Australia Earth Observation (EO) Market:
By Product Type segment of the Australia Earth Observation (EO) Market is sub-segmented into:
EO Data
Value-added Services [VAS]
Remote sensing services
Satellite monitoring services
By Technology segment of the Australia Earth Observation (EO) Market is sub-segmented into:
Synthetic Aperture Radar (SAR)
Optical
Others (Non-Imagery, Infrared, RF Monitoring)
By Sector segment of the Australia Earth Observation (EO) Market is sub-segmented into:
Agriculture & Forestry management
Insurance and Finance
Fisheries and aquaculture
Defence and Intelligence
Energy and natural resources
Industrial
Weather monitoring
Disaster management
Others
Regional Analysis
North America is forecast to emerge as the largest shareholder in the global australia earth observation market in terms of revenue. The growth of the market is attributable to various factors, including early adoption of advanced technology, growing investments in the sector, and rising infrastructural development. Furthermore, the Asia-Pacific market for australia earth observation will also grow steadily due to growing spending by government bodies. Additionally, increasing initiatives to improve infrastructure will also drive the market forward.
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About Astute Analytica:
Astute Analytica is a global analytics and advisory company that has built a solid reputation in a short period, thanks to the tangible outcomes we have delivered to our clients. We pride ourselves in generating unparalleled, in-depth, and uncannily accurate estimates and projections for our very demanding clients spread across different verticals. We have a long list of satisfied and repeat clients from a wide spectrum including technology, healthcare, chemicals, semiconductors, FMCG, and many more. These happy customers come to us from all across the globe.
They are able to make well-calibrated decisions and leverage highly lucrative opportunities while surmounting the fierce challenges all because we analyze for them the complex business environment, segment-wise existing and emerging possibilities, technology formations, growth estimates, and even the strategic choices available. In short, a complete package. All this is possible because we have a highly qualified, competent, and experienced team of professionals comprising business analysts, economists, consultants, and technology experts. In our list of priorities, you-our patron-come at the top. You can be sure of the best cost-effective, value-added package from us, should you decide to engage with us.
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