Nordics Satellite Imagery Services Market Size (2024 - 2029)

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.