Credit: ABI Research

The Global Earth Observation (EO) geospatial data services market is set to be worth around $15 billion in revenue by 2030. This is according to new research by technology intelligence firm, ABI Research. Europe is expected to lead with the highest compound annual growth rate (CAGR) of 20.5 percent from 2024 to 2030, followed closely by the Asia-Pacific region at 19.6 percent. In contrast, the Middle East and Africa are projected to experience more modest growth, with a CAGR of 10.4 percent. ABI Research revealed details of its latest research, Aug. 7.

ABI Research forecasts that the agriculture sector will grow at a CAGR of 15.0 percent from 2024 to 2030, driven by expanding applications such as precision agriculture, crop health monitoring, and land use analysis. Meanwhile, the supply chain and transport sector is expected to see a higher CAGR of 16.7 percent, as EO technologies play a critical role in enabling real-time visibility, asset tracking, and infrastructure management, particularly in response to recent global supply chain disruptions.

ABI Research highlights the fact that major EO companies such as Maxar, BlackSky, ICEYE, and Capella Space continue to invest heavily in scaling their satellite constellations and enhancing solution capabilities to meet rising demand. While North America currently leads in EO industry investment and innovation, regions like Europe and Asia-Pacific are quickly accelerating their efforts.

“The use of satellite imagery has surged in both government and commercial sectors. This increase is driven by the need for real-time, data-informed decision-making, along with the clear return on investment EO data can deliver. At the same time, we’re witnessing rapid innovation in EO solutions, including the integration of artificial intelligence (AI) to extract insights from scientific-grade imagery, the deployment of multi-sensor satellites to enhance capabilities, and advancements in data processing for faster, more efficient analysis,” Rachel Kong, Research Analyst, ABI Research, said in a statement.