Global Custom Earth Observation Value-Added Service Solutions Market Overview and Forecast 2023-2031

Global Custom Earth Observation Value-Added Service Solutions Market Overview and Forecast 2023-2031

According to Euroconsult, the commercial market for Earth observation VAS was $2.8b in 2021 and is forecasted to top $5.2b by 2031, a compound annual growth rate of 6%.

In 2022, ESA reported, the cost of the Earth observation segment was $1.08b with a budget of $1.7b. ESA continues its investment and development into scientific research projects with the goal to diversify earth observation capabilities.

In 2022, Maxar Technologies reported the demand for advanced analytic tools had increased. In 2022, Maxar’s revenue in the Earth Intelligence segment (incl. VAS) was $722m and $356m from the US federal government & agencies, and commercial clients respectively. Maxar's main customers were the USA and U.S.-allied nations.

Also, according to Euroconsult and TerraMetric’s 2020 report, several external factors, such as the expansion of automated analytics and the emergence of broadband constellations in low earth orbit (LEO), are expected to catalyze significant growth in the reach and efficiency of existing precision farming capabilities due to improved connectivity. Their study predicts that with the previously mentioned trends and new technological developments, the total available market for precision farming will be just over $4b by 2029.