PRAGUE, Czech Republic (EUSPA PR) — To help you better appreciate and reap the full benefits of space technology, EUSPA experts compiled the “EUSPA EO and GNSS Market Report“. The 216-page long release is the ultimate guide to anyone who seeks to make the EU Space technologies part of their business plan, develop new space downstream applications and see a tangible return on investment.
More than ever society relies on innovative solutions to deal with the big data paradigm, respond to and mitigate climate change, natural and man-made disasters, curb the spread of diseases and strengthen a global supply chain that underpins our daily lives. Earth Observation (EO) and Global Navigation Satellite System (GNSS) data is becoming increasingly important to these innovative solutions through dozens of applications that are emerging or already in use by citizens, businesses, governments, industry, international organizations, NGOs, and researchers around the world. In 2021, GNSS and EO downstream market generated over 200 billion euros revenues and are set to reach almost half a trillion over the next decade.
The report provides analytical information on the dynamic GNSS and EO markets. It also offers in-depth analyses of the latest global trends and developments through illustrated examples and use cases. Using advanced econometric models, it also offers market evolution forecasts of GNSS shipments or EO revenues spanning to 2031.
Who is it for?
Practically, the report is useful to anyone who seeks to include GNSS or EO data in their operations to bring added value to their business. It is meant for businesses, entrepreneurs, innovators, academia, chipset manufacturers, researchers, and more. If you are looking to break through into the space downstream industry, this report is the ultimate guide, offering great insights on market trends as well as future forecasts.
Eyes on Sustainability
Accelerating Europe’s engagement in space is pivotal to enable our green transition and reach climate neutrality by 2050. EUSPA is committed to helping the Union deliver on the Green Deal agenda, and the fight against climate change starting with embedding space data and services into our professional activities.
The report emphasises how the user of EO & GNSS contribute to compliance, monitoring, and efficiency of green investments, benefitting companies, regulators, and society as a whole. It focuses on concrete examples across the 17 identified market segments. For instance, in the area of green energy, EU Space plays a role too! Copernicus helps optimize the performance of tidal power generators, by offering data on the rise and fall tides through tidal currents prediction systems. Galileo can provide smart power grids with robust timing and synchronization down to a nanosecond level and therefore improve their performance.
Key Report findings:
- Global GNSS and EO enabled revenues crossed 200 billion in 2021 set to reach almost 500 billion over the next decade;
- The global installed base of GNSS devices in use will reach more than 10 bn units in 2031;
- The market for Earth Observation applications is boosted by a large pool of value-added services (i.e. 85% of global revenue);
- The European EO industry is dominated by SMEs and start-ups, from a supply perspective, European companies hold over 41% of the global EO market.
- The downstream space application market accompanied by the EU Space Programme will continue growing and thereby effectively contributing to European (e.g. European Green Deal, EU’s Digital Decade), as well as Global policies (e.g. United Nation’s Sustainable Development Goals and the Paris Agreement) in combination with other technologies.
You can download the 2022 Market Report here.