Market Size of Nordics Satellite Imagery Services Industry
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Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
Market Size (2024) | USD 0.22 Billion |
Market Size (2029) | USD 0.4 Billion |
CAGR (2024 - 2029) | 13.62 % |
Market Concentration | Medium |
Major Players![]() *Disclaimer: Major Players sorted in no particular order |
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Nordics Satellite Imagery Services Market Analysis
The Nordics Satellite Imagery Services Market size is estimated at USD 0.22 billion in 2024, and is expected to reach USD 0.4 billion by 2029, growing at a CAGR of 13.62% during the forecast period (2024-2029).
The Nordics satellite imagery services market is driven by the increasing demand for satellite imagery services in disaster management and climate change issues, forestry, and agriculture, coupled with the emergence of various regional market vendors offering innovative satellite imagery services.
- The Nordic satellite imagery services market has significantly expanded in Nordic countries in the past few years with the increased adoption of satellite imagery services in the military, defense, forestry, and agriculture sectors. Countries like Sweden, Finland, and Norway are offering substantial growth opportunities for market vendors to expand their satellite imagery services in various end-user industries. In addition, the significant presence of regional market vendors such as OHB Sweden, Kongsberg Satellite Services (KSAT), ICEYE, etc., further boosts the expansion of the market.
- Further, the Nordic countries have established policies to strengthen the space ecosystem by launching innovative space missions such as MATS (Mesospheric Airglow/Aerosol Tomography and Spectroscopy), an upcoming Swedish satellite mission designed to investigate atmospheric waves. Moreover, the countries are strengthening their space programs by partnering with global space agencies. For instance, the Swedish space program is primarily implemented in international cooperation, mainly within the European Space Agency, ESA framework. This is analyzed to create growth opportunities for market vendors to offer satellite imagery services to Nordic countries.
- Additionally, the satellite imagery services has witnessed significant adoption in forestry sector with market vendors witnessing demand to offer satellite imagery services for forest monitoring. Moreover, the satellite imagery services market in Nordic countries is further driven by the growing partnership among government authorities and the satellite imagery services market. The region has witnessed several alliances in the past few years to increase the adoption of satellite imagery services in various sectors.
- For instance, in the past, Norway's Ministry of Climate and Environment partnered with Kongsberg Satellite Services, Planet, and Airbus to make high-resolution satellite imagery of the tropics free and accessible to everyone. This trend is analyzed and expected to grow in the coming years, thus providing growth opportunities for the market vendors.
Nordics Satellite Imagery Services Industry Segmentation
Satellite imagery refers to images of the Earth taken from satellites orbiting the planet. These satellites are equipped with various sensors for detecting visible light, infrared light, microwave radiation, and more to craft high-resolution images. These images combine to create visual representations of the Earth, providing new perspectives on climate, geography, and manmade structures.
The Nordics satellite imagery services market is segmented by application (geospatial data acquisition and mapping, natural resource management, surveillance and security, conservation and research, disaster management, and intelligence), by end-user (government, construction, transportation and logistics, military and defense, forestry and agriculture, and other end-user), and by country (Denmark, Sweden, Norway, Finland, and other countries). The market sizes and forecasts are provided in terms of value USD for all the above segments.
By Application | |
Geospatial Data Acquisition and Mapping | |
Natural Resource Management | |
Surveillance and Security | |
Conservation and Research | |
Disaster Management | |
Intelligence |
By End User | |
Government | |
Construction | |
Transportation and Logistics | |
Military and Defense | |
Forestry and Agriculture | |
Others |
By Country | |
Denmark | |
Sweden | |
Norway | |
Finland |
Nordics Satellite Imagery Services Market Size Summary
The Nordics Satellite Imagery Services Market is experiencing robust growth, driven by the increasing demand for satellite imagery in sectors such as disaster management, climate change, forestry, and agriculture. The market is characterized by the presence of regional vendors offering innovative solutions, which is further bolstered by the strategic initiatives of Nordic countries like Sweden, Finland, and Norway. These countries are not only expanding their satellite imagery services across various end-user industries but are also strengthening their space ecosystems through partnerships with global space agencies and the launch of innovative space missions. The market's expansion is supported by significant investments in satellite imagery services for forest monitoring and sustainable agriculture practices, which are becoming essential in addressing environmental challenges and enhancing agricultural efficiency.
In Sweden, the satellite imagery services market is poised for significant growth due to the increasing demand across various sectors, including government and military. The country's focus on combating climate change and enhancing disaster management capabilities is driving the adoption of satellite imagery services. The booming space sector in Sweden, supported by the Swedish National Space Agency, is contributing to the development of innovative satellite technologies. The market is semi-consolidated, with major players like Thales Alenia Space, Maxar Technologies, ICEYE, Planet Labs, and OHB Sweden leading the charge. These companies are actively engaging in partnerships and launching new solutions to meet the growing demand for satellite imagery services, which are crucial for monitoring environmental changes and supporting decision-making in various sectors.
Nordics Satellite Imagery Services Market Size - Table of Contents
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1. MARKET INSIGHTS
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1.1 Market Overview
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1.2 Industry Attractiveness - Porter's Five Forces Analysis
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1.2.1 Bargaining Power of Buyers
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1.2.2 Bargaining Power of Suppliers
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1.2.3 Threat of New Entrants
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1.2.4 Threat of Substitutes
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1.2.5 Intensity of Competitive Rivalry
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1.3 Industry Value Chain Analysis
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1.4 Assessment of the Impact of COVID-19 on the Market
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2. MARKET SEGMENTATION
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2.1 By Application
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2.1.1 Geospatial Data Acquisition and Mapping
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2.1.2 Natural Resource Management
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2.1.3 Surveillance and Security
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2.1.4 Conservation and Research
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2.1.5 Disaster Management
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2.1.6 Intelligence
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2.2 By End User
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2.2.1 Government
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2.2.2 Construction
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2.2.3 Transportation and Logistics
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2.2.4 Military and Defense
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2.2.5 Forestry and Agriculture
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2.2.6 Others
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2.3 By Country
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2.3.1 Denmark
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2.3.2 Sweden
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2.3.3 Norway
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2.3.4 Finland
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Nordics Satellite Imagery Services Market Size FAQs
How big is the Nordics Satellite Imagery Services Market?
The Nordics Satellite Imagery Services Market size is expected to reach USD 0.22 billion in 2024 and grow at a CAGR of 13.62% to reach USD 0.4 billion by 2029.
What is the current Nordics Satellite Imagery Services Market size?
In 2024, the Nordics Satellite Imagery Services Market size is expected to reach USD 0.22 billion.