South Korea Satellite-based Earth Observation Market Size (2024 - 2029)

The South Korea Satellite-based Earth Observation Market is poised for significant growth, driven by the increasing use of earth observation imagery across various sectors such as urban monitoring, disaster management, and agriculture. Government support through space agencies is expected to further enhance the market's expansion. This technology is crucial for meeting the rising demand for satellite data in energy, climate monitoring, and military applications, while also contributing to the country's national space development and technological progress. Additionally, it offers economic and sustainable development opportunities in partnership with international financial institutions, bolstering South Korea's security and defense capabilities.

Market Size of South Korea Satellite-based Earth Observation Industry

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South Korea Satellite-based Earth Observation Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR (2024 - 2029) 8.94 %
Market Concentration High

Major Players

South Korea Satellite-based Earth Observation Market Major Players

*Disclaimer: Major Players sorted in no particular order

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South Korea Satellite-based Earth Observation Market Analysis

The South Korea Satellite-based Earth Observation Market is expected to register a CAGR of 8.94% during the forecast period.

The growing adoption of earth observation imagery in several applications, such as urban monitoring, disaster management, and agriculture in the region, alongside government aid through space agencies, is analyzed to bolster the market growth rate during the forecast period.

  • Satellite-based earth observation is a valuable tool for various applications and domains that can benefit South Korea. It can help meet the increasing demand for satellite-based Earth observation data, particularly in the fields of energy, climate monitoring, disaster management, and reconnaissance and surveillance for military purposes.
  • Further, satellite-based earth observation can support the national space development program and the scientific and technological advancement of the country. 
  • It can enable wider economic benefits and sustainable development in collaboration with international financial institutions (IFIs) and other partners. It can enhance the security and defense capabilities of South Korea against potential threats from North Korea or other adversaries.

South Korea Satellite-based Earth Observation Industry Segmentation

The study tracks the key market parameters, underlying growth influencers, and major vendors operating in the industry, which supports the market estimations and growth rates over the forecast period.

The South Korea satellite-based Earth observation market is segmented by type (earth observation data and value-added services), satellite orbit (low earth orbit, medium earth orbit, and geostationary orbit), and end-use (urban development and cultural heritage, agriculture, climate services, energy and raw materials, infrastructure, and other end-use

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-Use
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South Korea Satellite-based Earth Observation Market Size Summary

The South Korea satellite-based earth observation market is experiencing significant growth, driven by the increasing adoption of earth observation imagery across various applications such as urban monitoring, disaster management, and agriculture. Government support through space agencies and substantial investments in space programs are key factors propelling the market forward. The South Korean government has allocated considerable funds for the development of remote sensing satellites, which are expected to enhance resource management and environmental monitoring capabilities. These initiatives are part of a broader national space development program aimed at advancing scientific and technological progress, as well as supporting economic benefits and sustainable development in collaboration with international financial institutions.

The market is further bolstered by the country's urban development projects and smart city initiatives, which leverage satellite-based earth observation for urban planning and monitoring. Seoul's urban design plan and the establishment of national pilot smart cities like Sejong and Busan exemplify the integration of advanced technologies to improve urban living conditions. Additionally, partnerships with global technology companies, such as the collaboration between Dabeeo and Maxar Technology, are expanding the market's reach by enhancing geospatial information services. These developments, alongside the launch of commercial-grade satellites and innovative earth observation services, underscore the dynamic growth and strategic importance of the satellite-based earth observation market in South Korea.

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South Korea 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 Assessment of Macro-Economic factors in 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-Use

South Korea Satellite-based Earth Observation Market Size FAQs

The South Korea Satellite-based Earth Observation Market is projected to register a CAGR of 8.94% during the forecast period (2024-2029)

Satrec Initiative Co., Ltd., Dabeeo Inc., Geofocus Co., Ltd., Airbus and Korea aerospace industries ltd are the major companies operating in the South Korea Satellite-based Earth Observation Market.

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