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Space Debris Monitoring and Removal Market to Exhibit a 7.84% CAGR by 2028; Space Junk Concern to Result in Active Participation by Key Players, Says Fortune Business Insights™

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Pune, India, Aug. 25, 2021 (GLOBE NEWSWIRE) — The global space debris monitoring and removal market size was USD 803.44 million in 2020. The market is likely to reach USD 1,362.67 million in 2028 from USD 866.42 million in 2021, at a CAGR of 7.84% in the 2021-2028 period. This information is provided by Fortune Business Insights™ in its report titled, “Space Debris Monitoring and Removal Market, 2021-2028.”

The rising curiosity of outer space exploration coupled with increasing technological advances made by the human race has led to a rise in space debris. In order to monitor and set limitations on this space rubbish, various organizations have set up a structure. For instance, as per the European Space Agency, ClearSpace-1 is expected to be the foremost space assignment to eliminate constituents of the debris from the earth’s orbit. This mission is likely to be implemented by the year 2025. This is expected to reinforce market growth in the upcoming years.

COVID-19 Outbreak to Positively Impact Space Domain Market

The COVID-19 pandemic hit the world in 2019 and since has adversely affected the economic situation of the majority of the countries and domains as well. Nevertheless, it is witnessed that in the past few years, the happenings associated with space assessment have steadily changed towards exploitation. Moreover, the impact of the COVID-19 pandemic has radically obstructed the current space agendas and procedures done by the government as well as civic space organizations. This has presented a chance to the small and mid-size private firms to capitalize and bid space-based facilities to the leading players in this market.

For example, the U.S.-based venture known as OrbitGuardians delivers active space debris monitoring and removal services. The corporation utilizes technologies such as computer vision, artificial intelligence (AI), and the internet of things (IoT) to examine, observe, and eradicate space debris of a size lesser than 20 cm from space.

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Competitive Landscape

Key Players Sign Partnership to Strengthen their Market Positions

Prominent players in the market often team up with co-companies to flourish the market revenue and to bolster their position in the market globally. For example, in May 2020, the South African National Space Agency (SANSA) signed a partnership deal with the National Aeronautics and Space Administration (NASA) to jointly host a Deep Space Ground Station.

Key Industry Development

October 2020: Astroscale Holdings Inc. managed to raise USD 51 million in a Series E investment round. The total fund reached USD 191 million with the addition of the above funding, and it is allotted for the space debris elimination task.

List of Key Players Covered in this Space Debris Monitoring and Removal Market Report:

Dominant Companies List

  • Airbus SAS (The U.S.)
  • Astroscale Holdings Inc. (Astroscale) (Japan)
  • Voyager Space Holdings, Inc. (The U.S.)
  • Electro-Optic Systems Pty Ltd. (Australia)
  • Lockheed Martin Corporation (The U.S.)
  • Northrop Grumman Corporation (The U.S.)
  • PAO SP Korolev RSC Energia (Russia)
  • Raytheon Company (The U.S.)
  • Surrey Satellite Technology Ltd. (The U.K)
  • The Boeing Company (The U.S.)

Start-up Companies List

  • OrbitGuardians (The U.S.)
  • ClearSpace SA (Switzerland)
  • Share My Space (France)
  • Obruta Space Solution Corporation (Canada)

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Segmentation

By application, the global space debris monitoring and removal market is segmented into space debris monitoring and space debris removal. Among these, the space debris monitoring segment is estimated to dominate the market owing to the upsurge in space exploration activities and space debris modeling.  On the basis of debris size range, the market is segregated into the range of 1mm to 1cm debris size, 1cm to 10cm debris size, and greater than 10cm.

By the earth orbit, the market is categorized into low earth orbit (LEO) and geostationary earth orbit (GEO). On the basis of end-use, the market is classified into commercial and defense segments. In terms of region, the market is bifurcated into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.

Drivers and Restraints

Leading Countries and Their Joint Efforts to Explore Space Set to Bolster Market Growth

The exponential increase in the demand for communication via the internet and network-based services worldwide has motivated space promotions over the last couple of years. In May 2021, the Starlink platform introduced by SpaceX was granted authorization from the U.S. Federal Communications Commission (FCC) to further launch 12,000 Starlink mini-satellites for network collection. Besides, the firm is scheduling to assemble a spectrum for the extra involvement of 30,000 Starlink satellites in the forthcoming years. 

Furthermore, in the last five years, the orbital unveiling efforts have been reported to be considerably increased in the countries such as the Russia, U.S., Japan, India, China, and France. Jointly, there are about 3,373 active functional satellites in the earth’s orbit and are estimated to surge considerably in the upcoming years. This is projected to generate the the large number of space rubbish and will thrust the growth of the market.

However, the majority of the standards are constrained to the monitoring characteristic of space debris. The debris removal rules are not definite or enlisted by the top agencies and the governing organizations. This shall hinder the global space debris monitoring and removal market growth in the foreseeable future.

Regional Insights

North America to Ace Market Backed by Support from U.S. Department of Defense

The space debris monitoring and removal market share in the North American region was USD 321.60 million in 2020 and is likely to continue its authority during the forecast period, 2021-2028. The estimated share value is USD 310.55 million as of 2021. The U.S. has the biggest space-based institutions in comparison with the European and Asian leading nations. Furthermore, the U.S. Department of Defence expands greatly on supervising space debris to control the space rubbish in the forthcoming years.

Europe is projected to display substantial growth in the near future owing to the presence of renowned agencies such as the European Space Agency (ESA) and other space-related administrations. They play a critical role in space debris monitoring and removal from the Earth’s orbit.

Asia Pacific is predicted to showcase a higher CAGR in the market during the forecast period. The growth is owing to the surging demand for universe situational alertness abilities from leading nations such as India, China, and Japan.

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Detailed Table of Content:

  • Introduction
    • Research Scope
    • Market Segmentation
    • Research Methodology
    • Definitions and Assumptions
  • Executive Summary
  • Market Dynamics
    • Market Drivers
    • Market Restraints
    • Market Opportunities
  • Key Insights
    • Key Industry Developments –Mergers, Acquisitions, and Partnerships
    • Latest technological Advancements
    • Porters Five Forces Analysis
    • Supply Chain Analysis
  • Quantitative Insights- Impact of COVID-19 Pandemic on Space Debris Monitoring and Removal Market
    • Impact of COVID-19 on Global Space Debris Monitoring and Removal Market
    • Steps Taken By Industry/Companies/Governments to Overcome the Impact
    • Key Developments in The Industry in Response to COVID-19 Pandemic
    • Potential Opportunities Due to COVID-19 Outbreak
  • Global Space Debris Monitoring and Removal Market Analysis, Insights and Forecast, 2017-2028
    • Key Findings / Summary
    • Market Analysis, Insights, and Forecast – By Application
      •  Space Debris Monitoring
      •  Space Debris Removal
    • Market Analysis, Insights and Forecast – By Debris Size Range
      •  1mm to 1cm Debris Size
      •  1cm to 10cm Debris Size
      •  Greater than 10cm
    • Market Analysis, Insights, and Forecast – By Orbit Type
      •  Low Earth Orbit (LEO)
      •  Geostationary Earth Orbit (GEO)
    • Market Analysis, Insights and Forecast – By End-use
      •  Commercial
      •  Defense
    • Market Analysis, Insights, and Forecast – By Region
      •  North America
      •  Europe
      •  Asia Pacific
      •  Rest of the World

TOC Continued…!

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Have a Look at Related Research Key Updates:

Space Situational Awareness (SSA) Market Size, Share & COVID-19 Impact Analysis, By Offering (Service and Software), By Object (Mission-Related Debris, Rocket Bodies, Fragmentation Debris, Non-Functional Spacecraft, Functional Spacecraft), By End-User (Commercial, Military, and Government), and Regional Forecast, 2021-2028

Defense IT Spending Market Size, Share & COVID-19 Impact Analysis, By Type (Services, Hardware, and Software), By Application (IT Infrastructure, Cybersecurity, Defense Cloud Computing, Data Analytics, IT Application, Logistics & Asset Management, and Others), and Regional Forecast, 2020-2027

About Us:

Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.

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Artificial Intelligence

Unlock an Exclusive Olympic Experience: Celebrating Live4Well’s Sold-Out Genesis NFT

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HONG KONG, May 25, 2024 /PRNewswire/ — The buzz surrounding Live4Well’s successful Genesis NFT membership launch on May 23 has captivated both traditional and web3 communities. Combining the power of AI technology and decentralized physical infrastructure (DePin) concept, Live4Well has infused new life into the NFT market. The overwhelming response to their first NFT sales, showcases the project’s immense potential. Renowned web3 community leaders from Azuki, Bored Ape, Pudgy Penguins, WELL3, etc have joined forces with Live4Well, propelling the Genesis NFT membership collection to its resounding success.

Live4Well aims to transform the wellness industry by creating a reward-based infrastructure that connects global fitness data, enhances their AI database, and drives the development of sports and wellness. Backed by a multi-billion family office, which recently invested $20 million in Live4Well, the project has gained support in both web3 and traditional spaces. The team believes that every drop of sweat and effort toward better health should be rewarded, fostering motivation and integrating exercise into daily lives for enhanced well-being.
Live4Well’s announcement of an Olympic-themed raffle for Genesis NFT holders reflects their commitment to connecting wellness between Web2 and Web3 platforms. This testament to Live4Well’s demand and innovative vision solidifies their position as a promising leader in the industry. Their integration of the Olympic signifies their determination to inspire a global audience, leveraging blockchain technology to create an immersive ecosystem that revolutionizes how individuals engage with fitness on a daily basis for better health. Live4Well’s dedication to bridging the gap between traditional practices and the digital landscape sets them apart as pioneers in promoting well-being on a global scale.
What is Genesis NFT membership?
The Genesis NFT unlocks a multitude of benefits for holders, including the opportunity to cash out their sportive income and access a range of exclusive physical products and services. In addition to future airdrops and angel round whitelist privileges, Genesis holders will receive VIP tailor-made product packs from an innovative German sportswear company, elevating their exercise performance to new heights. With over 400 million sweat points farmed by their users, they are eager to redeem through the Genesis NFT membership. These enticing incentives explain why there was a widespread eagerness to participate in this thrilling event.
Unlike typical projects that raise funds before launching products or services, Live4Well has already released its AI-powered app, amassing over 250,000 users as a community base actively engaging in daily exercise. This early success has fostered a promising community within the wellness industry, as users trust Live4Well’s roadmap and collaborative ventures. The growing traction from both ordinary individuals and web3 enthusiasts has intensified the demand for redeeming and cashing out sweat points, the project’s exercise-based rewards. Obtaining the Genesis NFT membership is now seen as an essential step for accessing the highest tier of benefits and cashing out sportive income.
What’s next for Live4Well?
Following the Genesis sales, Live4Well’s team will shift their focus to the upcoming token generation event (TGE) and a series of farming events. They also have exciting plans for partnerships and other collaborations in the global wellness and fitness industries. If you missed the initial launch, be sure to stay updated on Live4Well’s journey and join this extraordinary revolution.
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Artificial Intelligence

Overseas Expansion Strategy of K-OTT Introduced in France, KOCCA holds the ‘2024 Korea-France Content Forum’

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– The ‘Korea-France Content Forum’ held to establish the Foundation for K-OTT’s oversea expansion
PARIS, May 24, 2024 /PRNewswire/ — The Ministry of Culture, Sports and Tourism (Minister Yu In-chon) and the Korea Creative Content Agency (President, Jo Hyun-rae, hereafter KOCCA) held the ‘2024 Korea-France Content Forum’ on May 24th during the Korea Expo in Paris, France.

The ‘2024 Korea-France Content Forum’ featured a keynote session (K-OTT’s Strategies in Global market) presenting K-OTT’s strategies for international expansion and a roundtable session (Strategies in the Era of Streaming) discussing the growth of OTT platforms and collaborative approaches with production companies.
The forum featured participation from various industry leaders including Kun hee Park (CEO, Wavve Americas), Sangjin Lee (Head of content IP Business, LG U+), Seung ae Sohn (Executive Director, Showbox), Ji ae Sohn (Ambassador for Cultural Cooperation), Moonju Kim (General Director, France Business Center, KOCCA), Isabelle Degeorges (President, Gaumont Television France) which produced the French Netflix original series, participated.
Strategy announcement by Wavve Americas (KOCAWA), the first K-OTT’s launched in Europe
During the Keynote Session, Park Kun Hee – CEO of Wavve Americas, the first domestic OTT Platform to launch services in Europe, Took the stage to discuss the international expansion strategy of KOCOWA, which started offering services in 39 countries including Europe since April of this year. Following this, Lee Sangjin, Head of Content IP Business of LG U+, presented the expansion strategy of LG U+ Mobile TV, encompassing diverse original content.
During the round-table session, participants shared thoughts and solutions regarding the survival strategies of local OTT platforms and production companies amidst the rapid waves of change brought about by the emergence of global OTT platforms.
In particular, through this forum, we were able to observe the proactive implementation of IP protection policies by local production companies in France, aimed at sustainable content creation. Isabelle Degeorges, CEO of Gaumont Television France, noted, “With the introduction of the European Audiovisual Media Services Directive (AVMSD), platforms and production companies can share IPs three years after supplying the content.” Kim Moon-joo, Director of the Korea Creative Content Agency’s France Business Center, participated as a panelist, introducing policies aimed at enhancing the competitiveness of K-OTT and fostering collaboration with production companies.
Park Kun Hee, CEO of Wavve Americas, who participated in the event, stated, “It was a meaningful opportunity to introduce our platform locally in Europe in line with KOCOWA’s expansion into the region”. Additionally, Kyoungbon Koo, Director Broadcasting & Video Content Division at KOCCA commented, “It was a meaningful occasion to not only introduce K-OTT’s strategies to Europe but also to exchange ideas on collaboration between Korea and France. We will continue to focus on activating various forms of collaboration with major international partners in the future”.
KOCCA supports the overseas expansion of excellent domestic OTT content and platforms through the newly established Local OTT Specialized Support Program this year. This initiative aims to enhance the competitiveness of domestic OTT platforms and content by adapting to the changing industrial environment.
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Artificial Intelligence

IoT Node and Gateway Market worth $604.7 billion by 2029 – Exclusive Report by MarketsandMarkets™

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CHICAGO, May 24, 2024 /PRNewswire/ — The IoT Node and Gateway market is projected to grow from USD 424.6 billion in 2024 and is estimated to reach USD 604.7 billion by 2029; it is expected to grow at a Compound Annual Growth Rate (CAGR) of 7.3% from 2024 to 2029 according to a new report by MarketsandMarkets™. The growth of the IoT Node and Gateway market is driven by the Provision of increased IP address space through IPv6, Emergence of 5G technology, and Increasing need for data centers.

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Browse in-depth TOC on “IoT Node and Gateway Market”
410 – Tables70 – Figures390 – Pages
IoT Node and Gateway Market Report Scope:
Report Coverage
Details
Market Revenue in 2024
$ 424.6 billion
Estimated Value by 2029
$ 604.7 billion
Growth Rate
Poised to grow at a CAGR of 7.3%
Market Size Available for
2020–2029
Forecast Period
2024–2029
Forecast Units
Value (USD Million/Billion)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
By Hardware, End-use Application and Region
Geographies Covered
North America, Europe, Asia Pacific, and Rest of World
Key Market Challenge
Requirement for wireless spectrum and licensed spectrum
Key Market Opportunities
Accelerated IoT adoption in healthcare sector
Key Market Drivers
Rising use of wireless smart sensors and networks
By Hardware, the Logic Devices are projected to grow at a high CAGR of IoT Node and Gateway market during the forecast period.
Logic devices can adapt to changing requirements even after deployment. As new features or functionalities are needed, the logic within the device can be reprogrammed to accommodate these changes, extending the useful life of the product and reducing the need for hardware revisions. The integration of FPGA technology into IoT devices further enhances these advantages. The integration of FPGAs into IoT nodes and gateways empowers manufacturers to develop highly optimized, customizable, and scalable solutions that meet the diverse needs of IoT applications. Tesla’s Full Self-Driving (FSD) computer utilizes FPGAs to handle complex neural network computations for autonomous driving algorithms. This allows them to potentially improve their FSD capabilities through software updates that reconfigure the logic within the FPGAs.
BFSI segment in IoT Node and Gateway Market is projected to grow at a highest CAGR during the forecast period.
BFSI sector can use IoT technology to provide more convenient solutions for customers. IoT can be used to perform data collection in real time and for instant communication between devices. For instance, it can facilitate cashless payments using an RFID scanner to identify products in the shopping cart and mobile wallet. The adoption of mobile point of sale (mPOS) systems and kiosks is fundamentally reshaping the landscape of the BFSI market. mPOS facilitates transactions anytime, anywhere, benefiting unbanked populations and enabling temporary service points for events. Kiosks offer convenient banking functionalities, reducing wait times and freeing up staff for complex inquiries. These technologies drive cost savings by requiring less investment and automating routine tasks, allowing resources to be reallocated strategically. They provide rich data for personalized services, fraud detection, and operational optimization. mPOS systems and kiosks promote financial inclusion by extending services to remote areas, fostering economic activity and well-being.
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North America accounts for the largest share in IoT Node and Gateway Industry.
The North American IoT market is poised to grow, driven by government efforts to transition cities into smart urban centers. The growing need for sophisticated IoT solutions, fueled by the widespread availability of high-speed data, will further propel market expansion in this region. Furthermore, North America’s dynamic IoT node and gateway ecosystem features established players like Intel Corporation (US), Texas Instruments Incorporated (US), Dell (US), and Cisco Systems (US), driving competition, innovation, and affordability. Increasing research and development at industry levels is broadening the application areas of IoT in various industries, such as retail, consumer electronics, automotive and transportation, and healthcare, especially in the US. The increased demand for effective solutions and focus on early, accurate, and fast diagnosis of diseases has led to huge investments in technological developments in the healthcare sector.
Key Players
Key companies operating in the IoT Node and Gateway companies are Intel Corporation (US), Qualcomm Technologies, Inc. (US), Texas Instruments Incorporated (US), STMicroelectronics (Switzerland), Microchip Technology Inc. (US), Huawei Technologies Co., Ltd. (China), NXP Semiconductors N.V. (Netherlands), Cisco Systems, Inc. (US), Hewlett Packard Enterprise Development LP (US), TE Connectivity Ltd (Switzerland), Advantech Co., Ltd. (Taiwan), Dell Technologies (US), among others.
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Browse Adjacent Market: Semiconductor and Electronics Market Research Reports &Consulting
Related Reports: 
IoT Technology Market by Node Component (Sensor, Memory Device, Connectivity IC, Processor, Logic Devices), Software Solution (Remote Monitoring, Data Management), Platform, Service, End-use Application, Geography – Global Forecast to 2029
Industrial IoT Market Size, Share & Industry Growth Analysis Report by Device & Technology, Connectivity Type, Software, Vertical (Manufacturing, Energy, Oil & Gas, Healthcare, Retail, Transportation, Metals & Mining, Agriculture), and Geography – Global Growth Driver and Industry Forecast to 2026
Internet of Robotic Things Market (IoRT) by Component (Sensor, Power, Control), Service (Professional, Managed), Platform (Device, Application, Network), Software (Analytics, Data, Security, Monitoring, Bandwidth), Application – Global Forecast to 2022
MulteFire Market by Device (Small Cells, Switches, Controllers), Application (Industrial Manufacturing, Commercial, Transportation, Public Venues, Healthcare, Oil & Gas and Mining, Power Generation, Hospitality), and Geography – Global forecast 2025
Smart Robots Market Size, Share by Component (Sensors, Actuators, Control Systems), Type, Operating Environment, Mobility, Application (Domestic, Field/Agricultural, Public Relations, Industrial), and Region – Global Forecast to 2025
About MarketsandMarkets™
MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
Contact: Mr. Aashish MehraMarketsandMarkets™ INC. 630 Dundee RoadSuite 430Northbrook, IL 60062USA: +1-888-600-6441Email: [email protected] Our Web Site: https://www.marketsandmarkets.com/Research Insight: https://www.marketsandmarkets.com/ResearchInsight/iot-gateway-market.aspContent Source: https://www.marketsandmarkets.com/PressReleases/iot-gateway.asp
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