Nigeria Satellite-based Earth Observation Market Size (2024 - 2029)

Nigeria Satellite-based Earth Observation Market Analysis

The Nigeria Satellite-based Earth Observation Market size is estimated at USD 267.12 million in 2024, and is expected to reach USD 369.60 million by 2029, growing at a CAGR of 6.71% during the forecast period (2024-2029).

Nigeria's continuing economic development and infrastructure development are expected to increase the demand for satellite earth observation services. Governments, private companies, and other stakeholders might need accurate geospatial information for city planning, infrastructure development, and resource management, thereby creating potential opportunities for market growth.

• Nigeria is gradually focusing on space technology and satellite-based ground observation capabilities. The National Space Research and Development Agency (NASRDA) is the government responsible for coordinating national projects. NASRDA has been Nigeria's prominent space agency to build and deploy satellites in the country to serve various industries.
• NigeriaSat-1, the nation's first Earth observation satellite, was launched twenty years ago, marking the beginning of Nigeria's involvement in satellite technology. NASRDA and Surrey Satellite Technology Limited (SSTL), a UK-based company, worked together on it. Nigeria has since launched several other satellites, notably NigeriaSat-2 and NigeriaSat-1. These satellites were created to deliver detailed data and imagery for various uses, including forestry, agriculture, disaster relief, and urban planning.
• Moreover, Nigeria has remote and hard-to-reach regions where traditional data collection methods may need to be revised. Satellite-based Earth observation could offer a cost-effective way to gather information and bridge data gaps in such areas, which could be a potential driver for market growth in the country.
• One of the primary challenges for Nigeria's satellite-based Earth observation market is the availability of adequate funding. Developing and launching satellites and maintaining and operating the necessary infrastructure requires substantial financial investments. Limited funding from the government and other sources may hinder the implementation of ambitious satellite projects and expanding Earth observation capabilities.

Nigeria Satellite-based Earth Observation Industry Segmentation

Satellite-based earth observation is done with the help of satellites orbiting around the planet to view and identify environmental changes, map making, etc. Satellite-based earth observation technology captures and stores information from satellites relating to the physical, biological, and chemical compositions of the earth for monitoring, surveillance, and decision-making in various verticals, such as defense and intelligence, infrastructure and engineering, natural resource management, energy and power, and disaster management.

Nigeria's satellite-based earth observation market is segmented by type (earth observation data, value-added services), satellite orbit (low earth orbit, medium earth orbit, geostationary orbit), and end-use (urban development and cultural heritage, agriculture, climate services. energy and raw materials, infrastructure). The market sizes and forecasts are provided in terms of value (USD) for all the above segments.