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Satellite-Based Earth Observation Market to grow by USD 7.6 Billion(2024-2028), driven by satellites for advanced environmental monitoring, AI transforming trends – Technavio

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NEW YORK, Dec. 14, 2024 /PRNewswire/ — Report with the AI impact on market trends – The global satellite-based earth observation market size is estimated to grow by USD 7.6 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 10.67%  during the forecast period. Use of satellites for advanced environment monitoring is driving market growth, with a trend towards growing demand for small satellites. However, competition from alternate technologies  poses a challenge. Key market players include Airbus SE, Antrix Corp. Ltd., BAE Systems Plc, Eagle View Technologies Inc., Geoimage, Global Surface Intelligence Ltd., Imagesat International I.S.I Ltd., Kleos Space S.A., L3Harris Technologies Inc., Lockheed Martin Corp., Maxar Technologies Inc., Northrop Grumman Corp., OHB SE, Orbital Insight Inc., Orbital Micro Systems, Planet Labs PBC, PlanetiQ, Raytheon Technologies Corp., Thales Group, and EarthDaily Analytics.

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Satellite-based Earth Observation Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 10.67%

Market growth 2024-2028

USD 7604.6 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

9.78

Regional analysis

North America, APAC, Europe, South America, and Middle East and Africa

Performing market contribution

North America at 42%

Key countries

US, Canada, China, Russia, and UK

Key companies profiled

Airbus SE, Antrix Corp. Ltd., BAE Systems Plc, Eagle View Technologies Inc., Geoimage, Global Surface Intelligence Ltd., Imagesat International I.S.I Ltd., Kleos Space S.A., L3Harris Technologies Inc., Lockheed Martin Corp., Maxar Technologies Inc., Northrop Grumman Corp., OHB SE, Orbital Insight Inc., Orbital Micro Systems, Planet Labs PBC, PlanetiQ, Raytheon Technologies Corp., Thales Group, and EarthDaily Analytics

Market Driver

The Satellite-based Earth Observation market is thriving, with trends in defense sector applications, border monitoring, disaster management, and military missions. Big data technology and high-resolution imaging services are driving innovation, while reusable rockets and high-altitude balloons reduce launch costs. Civil engineering construction, agriculture & forestry, transportation, real estate, and urban planning sectors benefit from satellite imagery. Defense & intelligence, homeland security, and infrastructure security are key government sector applications. Space economy growth includes commercial space activities, private spaceflight industry, telecommunication services, and open-source data. Startups and global corporations like Satellogic, GeoterraImage, Imagesat International, MDA Corporation, Planet Labs, and others are expanding technological capabilities with high-resolution cameras and remote sensing technology. Applications include weather occurrences, climate change mitigation, natural resource management, and disaster management. Market restraints include highly trained workers, encrypted data, and big data processing costs. Orbits provide data sources for Earth-imaging satellites, GNSS radio occultation, mapping, natural resources survey, and more. Satellite analytics offer insights into the macroscopic environment, supporting science, research, and development for defiance, urban development, and smart city initiatives. Market growth includes space programs, population reference bureau, and infrastructure facilities. Technological advancements in satellite imagery, meteorology, cartography, ocean salinity, ice thickness, agricultural health, air quality, and orbits contribute to market expansion. 

In the last decade, the number of small satellites, or SmallSats and CubeSats, launched into Earth’s orbit has seen a substantial rise. Ranging from a shoebox to a washing machine in size and weighing as little as 10 kilograms, these satellites offer a cost-effective and low-capital investment alternative. The affordability of SmallSats has fueled their popularity, particularly in scientific research and Earth observation applications. A larger constellation of these satellites can significantly enhance data collection capabilities. 

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Market Challenges

The Satellite-based Earth Observation market is thriving, with applications in various sectors including defense, border monitoring, disaster management, military missions, and civil engineering construction. Defense and intelligence agencies use high-resolution imagery for reconnaissance and security purposes. In the civil sector, satellite imagery is essential for urban planning, infrastructure security, and homeland security. Agriculture, forestry, transportation, real estate, and telecommunication services also benefit from satellite imagery for monitoring and analysis. Challenges in this market include the high cost of launching and producing satellites, the need for highly trained workers, and the secure handling of encrypted data. Reusable rockets and mass production are potential solutions to reduce launch costs. The use of satellite imagery extends to non-military purposes such as environmental monitoring, meteorology, cartography, and natural resource management. The market is driven by technological capabilities, including high-resolution cameras and remote sensing technology. However, market restraints include recessions, space programs, and competition from drones, high-altitude balloons, and unmanned aerial vehicles. Startups like Satellogic, GeoterraImage, Imagesat International, MDA Corporation, Planet Labs, and global corporations are investing in satellite imagery and analytics for various industries. The market also includes spy satellites and open-source data for scientific research and development. The space economy is growing with commercial space activities and the private spaceflight industry. The market is expected to grow further with smart city initiatives, infrastructure facilities, population growth, and the need for climate change mitigation and natural catastrophe prevention.The satellite-based Earth observation market faces notable competition from emerging high-altitude observational technologies, including UAVs, drones, and stratospheric balloons (stratolites). These balloons can carry telescopes and sensors, ranging from lightweight to heavy, up to 40,000 meters, offering cost-effective Earth observation for service providers and researchers. Stratolites are also beneficial for validating satellite data, as they experience less interference. Companies like Google and World View Enterprises invest in high-altitude balloon R&D, posing a growing threat to satellite-based Earth observation. This trend is expected to expand, with applications in weather forecasting and meteorological data acquisition.

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Segment Overview

This satellite-based earth observation market report extensively covers market segmentation by

Application 1.1 Defense1.2 Weather1.3 LBS1.4 Energy1.5 OthersType 2.1 VAS2.2 DataGeography 3.1 North America3.2 APAC3.3 Europe3.4 South America3.5 Middle East and Africa

1.1 Defense-  The defense segment held a substantial share in the global satellite-based Earth observation market in 2023. This trend is attributed to increasing defense spending on satellite technologies for surveillance, security, and intelligence purposes by emerging nations like China, India, and Russia. In September 2022, Airbus SE secured 15-year contracts with the Czech Republic and Netherlands defense ministries to provide satellite communications. The Czech Republic and Netherlands armed forces will utilize two and three channels, respectively, of Airbus’ UHF military communications hosted payload on EUTELSAT 36D. Launch scheduled for 2024, such agreements strengthen civil contractors’ presence in the military domain. The defense segment is projected to witness growth through hybrid procurement, combining public-private partnerships and proprietary application/data purchase framework contracts, due to budgetary constraints, low utilization rates, and industry competitiveness enhancement.

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Research Analysis

The Satellite-based Earth Observation market is a dynamic and growing industry that provides valuable insights and data about the Earth through various applications. This market caters to diverse sectors including Defense, Border monitoring, Disaster management, Military missions, and Civil engineering & construction. High-resolution imaging services are essential for Defense & intelligence, Agriculture & forestry, Transportation, Real estate, and Urban planning. Big data technology plays a crucial role in processing and analyzing vast amounts of satellite imagery. Reusable rockets and alternative earth observation methods like high-altitude balloons, Unmanned Aerial Vehicles (UAVs), and drones are also gaining popularity. The market encompasses Telecommunication services, Space economy, Commercial space activities, and the Private spaceflight industry. Satellite imagery is used for various purposes such as Infrastructure security, Homeland security, Border mapping, and Infrastructure development.

Market Research Overview

The Satellite-based Earth Observation market encompasses various applications including defense sector, border monitoring, disaster management, military missions, and civil engineering construction. Big data technology plays a crucial role in processing high-resolution imagery for defense & intelligence, agriculture & forestry, transportation, real estate, and urban planning. Reusable rockets and high-altitude balloons are transforming the space economy, enabling commercial space activities and private spaceflight industry. Telecommunication services and satellite imagery are essential for government sector initiatives, smart city development, and infrastructure security. Earth-imaging satellites provide valuable data sources for meteorology, cartography, ocean salinity, ice thickness, agricultural health, air quality, and natural resource management. Technological capabilities include high-resolution cameras, remote sensing technology, and satellite analytics. Market growth is driven by the need for natural catastrophe prevention, climate change mitigation, and scientific research and development. However, market restraints include highly trained workers, encrypted data security, big data management, launch costs, and satellite production. Startups and global corporations are investing in satellite imagery, orbits, and data sources to address various industries and applications. Satellogic, GeoterraImage, Imagesat International, MDA Corporation, Planet Labs, and others are leading the way in satellite innovation. Non-military purposes include environmental monitoring, weather occurrences, and open-source data. Space programs and urban development are also significant markets for satellite-based Earth observation.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ApplicationDefenseWeatherLBSEnergyOthersTypeVASDataGeographyNorth AmericaAPACEuropeSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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Miles Education Hosts India’s First-Ever Public Accounting GCC Conclave (M-PACT), Cementing India’s Role as a Global Accounting Powerhouse

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BENGALURU, India, Dec. 20, 2024 /PRNewswire/ — Miles Education, the flagbearer of accountants, made history by hosting M-PACT: India’s First Public Accounting GCC (Global Capability Center) Conclave, on Dec 7, 2024. Bringing together over 500 participants from the Big 4, public accounting firms and academia, the event marked a pivotal moment in cementing India’s position as the driving force for public accounting across the globe.

M-PACT set the stage for bold, future-focused dialogues on the transformative forces reshaping the accounting profession: Talent, Technology, and Transformation. The event spotlighted India’s unmatched talent and groundbreaking innovations, paving the way for a new era of global accounting excellence.

Key Highlights

Scaling India’s Talent Pipeline

The conclave highlighted India’s critical role in building a future-ready workforce to lead the global accounting landscape. Working backwards from the huge shortage of accountants in the US, Miles has been instrumental in creating the CPA talent pipeline for public accounting GCCs in India, contributing billions of dollars in exports. To further enhance the global perception of India’s talent, Miles has integrated STEM into accounting education in the US and created a unique pathway for Indian accountants to work in the US.

The discussions underscored how Indian professionals are setting new benchmarks locally and globally. During the panel on Scaling Public Accounting GCCs in India, moderated by Varun Jain, CEO of Miles Education, industry leaders such as Chung Tham (EY GDS), Vishnu Patwari (BDO RISE), Karthick Venkatakrishnan (Eisner Amper), and Murali Balasubramanian (Sthirah) illuminated India’s transformative journey. Vishnu Patwari summed it up by saying, “India’s unique position allows us to integrate the best global practices and create capabilities the world has never seen.”

Technological Disruption in Accounting

The conclave showcased how cutting-edge technologies like artificial intelligence, advanced analytics, and dynamic business models are revolutionising accounting practices.

In the panel on AI, Analytics, and Technology in Accounting, Balaji Iyer, Managing Partner at Moss Adams, drove home the future vision: ‘Who wants to slog 60 hours during busy seasons when AI can redefine efficiency? The future is here, and technology is rewriting the rules.’ Moderated by Giridhar Rajgopa (Sentient Soutions), the panel included other luminaries, including Manish Bathija (BDO India), Prasad GVR (Sikich India), Shrenik Shah (Armanino), and Vijay Narayandas (BDO RISE), who shared actionable insights on embracing innovation to stay ahead globally.

Shaping a Future-Ready Workforce

A central theme was workforce transformation — bridging skill gaps and creating industry-ready professionals. The panel, moderated by Bhaskar Ranjan Das (Ex-Director at AICPA), discussed strategies for building talent pipelines that address skill shortages while preparing professionals to navigate a rapidly evolving global landscape.

Vikram P. Rao, Head of HR at Withum, emphasized the impact of Miles Education: “Miles Education is leading the way, ensuring students are guided with precision and armed with skills to dominate the future.” Panelists like Ashish Jalan (CohnReznick), Subramanian Ananthakrishnan (EY GDS), Vishal Agarwal (Citrin Cooperman), and Vikash Pipara (BDO RISE) further explored innovative strategies to nurture tomorrow’s leaders.

Bridging the gap between academia and industry

The conclave sought to address the critical need for stronger collaboration between academia and industry, aiming to create clear pathways for students to transition seamlessly into the workforce. By integrating global qualifications like CPA and CMA into university programs — an approach already championed by Miles Education — discussions explored how academic curricula can evolve to meet the ever-changing demands of the professional world.

Leaders from top universities participated in the discussions, emphasizing the need for innovative pedagogies to align academic training with the evolving demands of the accounting profession. Miles Education’s efforts in bridging this gap were widely acknowledged. Dr. Biju Toms (Christ University) remarked, “Thanks to Miles Education, we are integrating innovative pedagogies to meet industry demands.” Dr. Easwaran Iyer (Jain University) also commended their impact, noting, “Miles Education has been pivotal in bridging the gap between academia, industry, and professional bodies to enhance skilling opportunities.”

A Game-Changing Initiative: The PAGE Council

In a groundbreaking announcement, Miles Education unveiled the Public Accounting GCC Excellence (PAGE) Council. This leadership forum will unite GCCs, public accounting firms, and academic institutions to propel strategic initiatives, foster collaboration, and redefine public accounting for the 21st century.

A Vision for Global Excellence

M-PACT wasn’t just a milestone; it was a bold declaration of India’s intent to dominate global accounting. Delivering a keynote address, Badri Rao, Partner at KPMG GDC, set the tone for future success: “The mantra is simple: Learn. Innovate. Unlearn. Learn again. Innovate again. The cycle never stops.”

Varun Jain, CEO of Miles Education, made a powerful statement: “India is at the cusp of revolutionizing the global accounting profession. With our unmatched talent pool, technological expertise, and unparalleled work ethic, we are uniquely positioned to lead the transformation of public accounting. This is not just about addressing the global shortage of accountants — it’s about redefining the profession, setting new standards, and ensuring that accounting continues to power economies across the world. India’s time to lead is now.”

The Message is Clear: India’s Moment is Now

M-PACT reinforced India’s unstoppable rise as the global epicentre of accounting. As the event concluded, the energy was palpable — a shared determination to shape the future of public accounting, with innovation, talent, and technology leading the charge.

With M-PACT as the catalyst, Miles Education stands at the forefront of this revolution, committed to redefining what’s possible in global accounting.

About Miles Education

Miles Education stands as a global ed-tech leader, working backwards from industry shortages, skill gaps, and emerging opportunities to empower businesses and professionals across accounting, business, healthcare, and tech. By creating innovative pathways, Miles is building a robust talent ecosystem that sets talent up for success.

In accounting, Miles has built a talent pool of CPA and CMA candidates in India, driving billions in exports of accounting service exports. The company’s STEM-integrated Miles U.S. Pathway has empowered thousands of Indian accountants to lead as India’s talent ambassadors in the U.S. In healthcare, the company is advancing clinical process outsourcing to India and creating avenues for Indian and global healthcare professionals to work in the U.S.

In business education, Miles is redefining the traditional approach by seamlessly integrating real-world experience with academic learning. In technology, through a joint venture — Futurense Technologies — Miles is preparing Indian tech talent to lead and excel in the AI-driven era.

With a team of over 600 professionals, a network of 70,000+ alumni, partnerships with 100+ universities, and 600+ multinational corporations, Miles is achieving a CAGR of over 80%, distinguishing itself as one of India’s few profitable ed-tech companies.

For more information, visit www.mileseducation.com.

Contact
info@mileseducation.com 

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COMEUP 2024 Concludes: A Global Startup Festival Breaking Boundaries of Innovation

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SEOUL, South Korea, Dec. 20, 2024 /PRNewswire/ — The Korea Startup Forum (KSF, Chairman Sangwoo Han) announced that COMEUP 2024, held on December 11 and 12 at COEX in Seoul, successfully concluded. The event welcomed startups, investors, global corporations, aspiring entrepreneurs, and the general public from 45 countries, establishing its international reputation.

Approximately 260 startups from 45 countries participated, with over half being international companies. National pavilions from the UAE, India, Japan, and Sweden showcased technologies, while 120 startups from 21 countries, including Germany, Austria, Sweden, and South Africa, engaged in pitching sessions, exhibitions, and networking events. Organizations like the International Trade Center (ITC) and the Africa Development Bank (AfDB) also participated.

COMEUP 2024 focused on global tech ecosystem trends such as deep tech, inbound innovation, and sustainable innovation (SIS). On December 11, Qamar Aftab from Wa’ed Ventures and Sunghyun Park from Rebellions discussed cross-border innovation. On December 12, SooJong Kim, CEO of INNOSPACE, spoke about opportunities in the space industry, drawing significant attention.

The public IR pitching event Startup Valley crowned Toonimotion, Foretell My Health, and POSCORE as Rookie League winners, securing their spots at Viva Technology 2025 in France. Other notable finalists included CUBIG, ZETIC.ai, and Tublet Korea, which are recognized for advancements in fields like AI and cybersecurity.

The Open Innovation Ground program facilitated collaborations between startups and companies like Microsoft, NVIDIA, Hyundai Motor, and Siemens. Customized matchmaking sessions featured expert talks on global expansion and funding, while the On the COMEUP platform enabled 1,900 successful business matches, nearly doubling last year’s record.

The Inbound Innovation track spotlighted foreign startups, including AiMA Beyond AI, a Spanish company developing AI-powered digital human solutions, which gained attention for its innovations and market entry efforts in Korea.

Sangwoo Han, Chairman of the Korea Startup Forum, stated, “COMEUP 2024 has become a global festival where startups and investors worldwide collaborate, break innovation boundaries, and shape the future. We will continue supporting startups in taking on new challenges and achieving global success.”

COMEUP 2024 highlights and replays are available on its official YouTube channel.

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Familiar Destinations Top Agoda’s Family Travel Ranking

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SINGAPORE, Dec. 20, 2024 /PRNewswire/ — Digital travel platform Agoda has unveiled its family travel ranking, listing top family destinations for 2024. The ranking offers insights into how family travel preferences have evolved from the previous year. The list, which sees Tokyo take the crown, highlights both continuity and change in international travel trends for families.

In 2024, Tokyo, Osaka, and Bangkok continue to be favored international destinations for families, maintaining their respective top three positions from 2023. These cities offer a blend of cultural richness and family-friendly attractions that appeal to travelers of all ages. New to the 2024 list are Da Nang and Seoul, which have captured the interest of families seeking diverse activities and scenic beauty. This marks a shift from 2023, where Singapore and Taipei were among the top destinations.

Hiroto Ooka, Associate Vice President North Asia at Agoda shared, “Families want destinations that are fun and easy to explore. Agoda is thrilled to highlight these amazing places for 2024. Whether it’s the buzz of Tokyo or the calm of Da Nang, Agoda has something special for every family.”

Agoda’s extensive offerings include over 4.5 million holiday properties, more than 130,000 flight routes, and over 300,000 activities, all of which can be combined in the same booking. Families planning their next adventure can explore these destinations and more at Agoda.com or download the Agoda app.

— ENDS —

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