image credit: Pexels

Satellite-based Earth Observation data market worth $1.6 billion

Its latest report covers eight regions and across nine vertical markets.

The headline figures include the commercial market for EO data standing at $1.6 billion, in 2020, which represents a growth at a 5-year Compound Annual Growth Rate (CAGR) of 5%. It is expected to top $2.5 billion by 2030 at 4% CAGR throughout the decade, says Euroconsiult.

The defence sector maintains its place as the most significant market for commercial data, with $1.8 billion in 2020, or around 45% of the total market.

Read More on Electronics Weekly