EUSPA publishes EO and GNSS Market Report 2022 [Feb/2022]
In January 2022, the EU Agency for the Space Programme (EUSPA) published the first edition of the Earth Observation (EO) and Global Navigation Satellite System (GNSS) market report. The report presents market sizes (units) and revenues (euros) consolidated from a wide range of EO and GNSS downstream space applications across 17 market segments.
Figures provided on the EO market are based on the purchase of both EO data and value-added services (VAS). Figures related to the GNSS market include both shipments and installed base of GNSS devices as well as revenues from GNSS devices, value-added services and augmentation services.
The report aims to support space businesses in the downstream sector with detailed analyses and comprehensive information across the 17 market segments and related applications. Based on the scope outlined above, EUSPA presents a EO and GNSS global market generating over €200 billion of revenues in 2021 (with €199 billion attributed to GNSS) and predicts this number to increase to €500 billion over the upcoming ten years.
GNSS market revenues across the applications in scope are expected to grow extensively over the next decade (CAGR of 9.2%). This is mainly driven by the number of annual shipments of GNSS receivers, which is expected to increase significantly from 1.8 billion (2021) to 2.5 billion (2031). This new demand is predicted to originate from rising markets in South America & Caribbean, Non-EU27 Europe, and Middle East & Africa. As a result, over 10 billion GNSS devises are predicted be in use across the globe by 2031. 98% of these devises are expected to originate from three key market segments: Consumer solutions, Tourism & Health, and Road & Automotive.
EO market growth is primarily enabled by value added services alone (about 80% of estimated revenues in 2021 across the applications in scope). In the EO market, Europe supplies 41% of revenues, second only to the U.S. (42%). As outlined by complementary publications on the European EO sector (e.g. EARSC 2021 EO Industry Survey, which can be found here), it consists primarily of SMEs and start-ups (93%) and is driven by Europe’s Full, Free and Open policy for generated data. This allows free use of Copernicus data for value adding products.
For more information and access to the full market report by EUSPA, please click here.