Nigeria Satellite-based Earth Observation Market Size (2024 - 2029)

The Nigeria Satellite-based Earth Observation Market is poised for growth, driven by the country's economic and infrastructure development needs. The demand for accurate geospatial information for city planning, infrastructure, and resource management is expected to create opportunities for market expansion. Nigeria's focus on space technology, coordinated by the National Space Research and Development Agency, has led to the launch of several satellites to support various industries. Despite the potential for market growth, challenges such as limited funding for satellite development and infrastructure maintenance may impede progress.

Market Size of Nigeria Satellite-based Earth Observation Industry

Nigeria Satellite-based Earth Observation Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Market Size (2024) USD 267.12 Million
Market Size (2029) USD 369.60 Million
CAGR (2024 - 2029) 6.71 %
Market Concentration Medium

Major Players

Nigeria Satellite-based Earth Observation Market Major Players

*Disclaimer: Major Players sorted in no particular order

Nigeria Satellite-based Earth Observation Market Analysis

The Nigeria Satellite-based Earth Observation Market size is estimated at USD 267.12 million in 2024, and is expected to reach USD 369.60 million by 2029, growing at a CAGR of 6.71% during the forecast period (2024-2029).

Nigeria's continuing economic development and infrastructure development are expected to increase the demand for satellite earth observation services. Governments, private companies, and other stakeholders might need accurate geospatial information for city planning, infrastructure development, and resource management, thereby creating potential opportunities for market growth.

  • Nigeria is gradually focusing on space technology and satellite-based ground observation capabilities. The National Space Research and Development Agency (NASRDA) is the government responsible for coordinating national projects. NASRDA has been Nigeria's prominent space agency to build and deploy satellites in the country to serve various industries.
  • NigeriaSat-1, the nation's first Earth observation satellite, was launched twenty years ago, marking the beginning of Nigeria's involvement in satellite technology. NASRDA and Surrey Satellite Technology Limited (SSTL), a UK-based company, worked together on it. Nigeria has since launched several other satellites, notably NigeriaSat-2 and NigeriaSat-1. These satellites were created to deliver detailed data and imagery for various uses, including forestry, agriculture, disaster relief, and urban planning.
  • Moreover, Nigeria has remote and hard-to-reach regions where traditional data collection methods may need to be revised. Satellite-based Earth observation could offer a cost-effective way to gather information and bridge data gaps in such areas, which could be a potential driver for market growth in the country.
  • One of the primary challenges for Nigeria's satellite-based Earth observation market is the availability of adequate funding. Developing and launching satellites and maintaining and operating the necessary infrastructure requires substantial financial investments. Limited funding from the government and other sources may hinder the implementation of ambitious satellite projects and expanding Earth observation capabilities.

Nigeria Satellite-based Earth Observation Industry Segmentation

Satellite-based earth observation is done with the help of satellites orbiting around the planet to view and identify environmental changes, map making, etc. Satellite-based earth observation technology captures and stores information from satellites relating to the physical, biological, and chemical compositions of the earth for monitoring, surveillance, and decision-making in various verticals, such as defense and intelligence, infrastructure and engineering, natural resource management, energy and power, and disaster management.

Nigeria's satellite-based earth observation market is segmented by type (earth observation data, value-added services), satellite orbit (low earth orbit, medium earth orbit, geostationary orbit), and end-use (urban development and cultural heritage, agriculture, climate services. energy and raw materials, infrastructure). The market sizes and forecasts are provided in terms of value (USD) for all the above segments.

By Type
Earth Observation Data
Value Added Services
By Satellite Orbit
Low Earth Orbit
Medium Earth Orbit
Geostationary Orbit
By End-use
Urban Development and Cultural Heritage
Agriculture
Climate Services
Energy and Raw Materials
Infrastructure
Other End-Uses
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Nigeria Satellite-based Earth Observation Market Size Summary

The Nigeria Satellite-based Earth Observation market is poised for significant growth, driven by the country's economic and infrastructure development. The increasing demand for accurate geospatial information for urban planning, resource management, and infrastructure development is creating opportunities for market expansion. The National Space Research and Development Agency (NASRDA) plays a crucial role in coordinating satellite projects, with collaborations such as those with Surrey Satellite Technology Limited enhancing Nigeria's capabilities in satellite technology. The launch of satellites like NigeriaSat-1, NigeriaSat-2, and others has been instrumental in providing detailed data for various applications, including agriculture, disaster management, and urban planning. Despite challenges like funding limitations, the market is supported by the growing need for cost-effective data collection methods in remote areas, which satellite-based Earth observation can address.

The market's growth is further bolstered by the increasing focus on connectivity and data accessibility, which facilitates better data transmission and expands the user base for Earth observation services. Improved infrastructure development, such as ground stations and communication networks, enhances the efficiency of data reception and transmission. This increased connectivity, coupled with efforts to develop user-friendly platforms, enables diverse stakeholders to effectively utilize Earth observation data. The market is semi-consolidated, with key players like NIGCOMSAT Ltd, NASRDA, and international organizations contributing to its development. Initiatives such as Nigeria's participation in the Group on Earth Observations and collaborations with global entities underscore the country's commitment to leveraging satellite-based technologies for sustainable development and informed decision-making across various sectors.

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Nigeria Satellite-based Earth Observation Market Size - Table of Contents

  1. 1. MARKET INSIGHTS

    1. 1.1 Market Overview

    2. 1.2 Industry Attractiveness - Porter's Five Forces Analysis

      1. 1.2.1 Bargaining Power of Buyers

      2. 1.2.2 Bargaining Power of Suppliers

      3. 1.2.3 Threat of New Entrants

      4. 1.2.4 Threat of Substitutes

      5. 1.2.5 Intensity of Competitive Rivalry

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Assessment of the Impact of COVID-19 on the Market

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Type

      1. 2.1.1 Earth Observation Data

      2. 2.1.2 Value Added Services

    2. 2.2 By Satellite Orbit

      1. 2.2.1 Low Earth Orbit

      2. 2.2.2 Medium Earth Orbit

      3. 2.2.3 Geostationary Orbit

    3. 2.3 By End-use

      1. 2.3.1 Urban Development and Cultural Heritage

      2. 2.3.2 Agriculture

      3. 2.3.3 Climate Services

      4. 2.3.4 Energy and Raw Materials

      5. 2.3.5 Infrastructure

      6. 2.3.6 Other End-Uses

Nigeria Satellite-based Earth Observation Market Size FAQs

The Nigeria Satellite-based Earth Observation Market size is expected to reach USD 267.12 million in 2024 and grow at a CAGR of 6.71% to reach USD 369.60 million by 2029.

In 2024, the Nigeria Satellite-based Earth Observation Market size is expected to reach USD 267.12 million.

Nigeria Satellite-based Earth Observation Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)