Market Trends of Nordics Satellite-based Earth Observation Industry
Growing Requirement of Satellite Based Earth Observation in Agriculture
- The requirement for satellite-based Earth observation in agriculture is growing in the Nordic region. Satellite imagery and remote sensing technologies offer valuable insights for precision agriculture practices. Precision agricultural techniques are rapidly being used by farmers in the Nordic area to optimize crop yield, minimize resource inputs, and reduce environmental effects. Satellite data aids in crop health monitoring by identifying regions of nutrient deficiency or water stress and allowing for targeted actions such as variable-rate fertilization and irrigation.
- Preliminary data suggests that sales revenue in German farming reached around 60.4 billion euros in 2023. The sales revenue in the agricultural sector in Germany is displayed on the timeline from 2000 to 2023.
- Drones and satellites have recently been used in Danish agricultural production. These technologies can be used to pinpoint specific areas of growth that require attention. It may also be used to optimize fertilizing or seed planting. Using satellite technology will optimize water consumption, optimize seed sowing, increase production, and produce higher-quality food.
- Moreover, satellite-based Earth observation provides continuous monitoring of agricultural lands, enabling farmers to assess crop growth, detect anomalies, and estimate yields. This information assists in timely decision-making, such as adjusting irrigation schedules, implementing pest management strategies, and planning harvest operations.
- To support the growing demand for satellite-based Earth observation in agriculture, there are initiatives in the Nordic region focused on promoting data accessibility, capacity building, and research collaborations. These efforts aim to empower farmers, agricultural consultants, and policymakers with the necessary tools and knowledge to harness the potential of satellite data for sustainable and efficient agriculture.
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Sweden to Hold the Significant Market Share
- Sweden is anticipated to hold a significant market share during the forecast period due to the increasing number of research studies and investments in the satellite market, the presence of advanced infrastructure for aerospace research, and the quickest and highest adoption of commercial satellite imaging across various industries in Sweden.
- Satellites provide essential data for monitoring environmental parameters such as air quality, water quality, land cover, and vegetation health. This information enables policymakers and land managers to assess the impact of human activities on the environment and make informed decisions regarding land use planning and conservation efforts.
- Moreover, infrastructure planning and development Satellites provide valuable insights. They assist in identifying suitable locations for transportation networks, urban expansion, and renewable energy projects. Satellite data helps analyze terrain conditions, identify potential risks, and optimize infrastructure designs to minimize environmental impacts.
- The government of Sweden is continuously focusing on the development of the country's infrastructure. Hence, in June 2023, the Ministry of Rural Affairs and Infrastructure held a meeting in Malmo where participants from both the private and public sectors, professionals, and academics will come together to reinforce European bonds and networks and increase sustainable, beautiful, and inclusive urban areas that are making the transition to meet the EU's target of net-zero emissions of greenhouse gases by 2050.
- This initiative will leverage advanced remote sensing techniques, data analysis, and Geographic Information Systems (GIS) to integrate satellite data into their decision-making processes.
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