Global Satellite Data Services Market Size Worth USD 18.4 Billion By 2027 | CAGR 18.96% : Infinium Global Research

(Heraldkeepers via Comtex)

The global satellite data services market is projected to grow at a CAGR of 18.96% over the forecast period of 2021-2027. The satellite data services market grew from nearly USD 6.5 Billion in 2021 to about USD 18.4 Billion in 2027.

Infinium Global Research's recent report on the "Satellite Data Services Market (by Type (Image Data and Data Analytics), By Application (Energy & Power, Engineering & Infrastructure, Environmental Monitoring, Agriculture, Maritime, Transportation & Logistics and others)) Global Industry Analysis, Trends, Market Size & Forecasts to 2027" provides a comprehensive outline of the factors responsible for the growth of the market. The global satellite data services market is projected to grow at a CAGR of 18.96% over the forecast period of 2021-2027. The satellite data services market grew from nearly USD 6.5 Billion in 2021 to about USD 18.4 Billion in 2027.

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The Rising Demand For Small Satellites For Different Observations Around The Earth To Fetch Data Is One Of The Major Factors Driving The Growth Of The Satellite Data Services Market

Satellite data service is defined as the process of accessing information pertaining to the earth gathered by artificial satellites. Satellite data are widely been used in the advancement of smart cities and connected vehicles. Urban planners are majorly using this data in order to understand settlement trends and ensure efficient infrastructure management. Satellite data services are been used in various applications such as military and agriculture, owing to accurate features, and efficiency.

It also helps the agriculture sector to monitor the weather to overcome disasters or losses that occur. Satellite data services are also been widely used in various other applications, such as geospatial data acquisition & mapping, defense & intelligence, energy, construction & infrastructure development, natural resource management, conservation & research, media & entertainment, surveillance & security, and disaster management.

Due to the covid- 19 pandemic the large space manufacturers and satellite data service providers got hampered mission deployments with the slowdown of delivering the products due to supply chain disruptions. Furthermore, Government contractors in the various developing nation of Asia, Europe, and North America got benefitted from significant administrative and financial support from space agencies through accelerated and advanced payments. During the pandemic, the demand for crisis monitoring, evidence-based cases, and business intelligence increased drastically.

The Aerospace & Defense Segment To Dominate Market Share In The Satellite Data Services Market

Space technologies form a major part of the aerospace and defense sector across various nations. They consist of a wide range of earth observation technologies, space robotics, satellite communications, and various space science & exploration activities. The increase in the revenue of the aerospace & defense segment is majorly due to the demand for satellite data in the defense sector by developing nations such as India, the US, China, etc. Satellite imagery data is used in aerospace & defense in order to check for illegal activities that are been carried out on the borders or inside the nations. Moreover, for the smooth functioning of aerospace & defense activities, satellites provide required information and prevent further illegal activities.

The North American region Accounts for a Significant Share of the Satellite Data Services market

In terms of region, North America generated the largest revenue in the global Satellite Data Services market in 2020 and is expected to remain the leading market over the forecast years. The region is dominating due to the presence of key satellite manufacturers. Furthermore, heavy investment is been done by NASA and also government to accelerate the Satellite Data Services market in this region. Furthermore, the Asia Pacific region is expected to grow at the fastest rate in the Satellite Data Services market over the forecast period.

The demand is growing adoption of satellite data services in the aerospace and defense sector. Moreover, with favorable government policies aimed toward supporting urban infrastructure development and planning, the use of land, facilitating geographical mapping, and monitoring is anticipated to propel the market growth in the region in the upcoming years.

Key Players Focusing To Increase The Production Capacity By Collaborating With Other Companies

The Satellite Data Services market is intensely competitive with the presence of several multinational and local players. The major player's Airbus S.A.S., East View Geospatial Inc., ImageSat International, L3Harris Technologies, Inc., Maxar Technologies, Planet Labs Inc., Satellite Imaging Corporation, SpecTIR LLC, Trimble Inc., and Ursa Space Systems Inc, and several others are constantly focusing on developing new products to gain a competitive edge in the market. These companies are adopting numerous market strategies including new product launches, collaboration, and mergers & acquisitions with numerous other companies at the country level.

For instance, in November 2021, Wood Mackenzie and Ball Corporation signed an agreement for satellite data analytics collaboration. For instance, in February 2022, Jio Partnered With SES To Provide Satellite-Based Broadband Internet Services Across India. Infinium Global Research's recent report on the global Satellite Data Services market is an encompassment of such recent developments in the global marketplace. The report delivers insights into the recent developments by leading players that have contributed to the growth of the Satellite Data Services market and also estimates the impact of recent developments in the global market.

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Table of Contents

Chapter -1. Preface

1.1. Report Description

1.2. Research Methods

1.3. Research Approaches

Chapter -2. Executive Summary

2.1. Satellite Data Services Market Highlights

2.2. Satellite Data Services Market Projection

2.3. Satellite Data Services Market Regional Highlights

Chapter -3. Global Satellite Data Services Market Overview

3.1. Introduction

3.2. Market Dynamics

3.2.1. Drivers

3.2.2. Restraints

3.2.3. Opportunities

3.3. Analysis of COVID-19 impact on the Satellite Data Services Market

3.4. Porter’s Five Forces Analysis

3.5. IGR-Growth Matrix Analysis

3.6. Value Chain Analysis of Satellite Data Services Market

Chapter -4. Satellite Data Services Market Macro Indicator Analysis

Chapter -5. Global Satellite Data Services Market by Type

5.1. Image Data

5.2. Data Analytics

Chapter -6. Global Satellite Data Services Market by Application

6.1. Energy & Power

6.2. Engineering & Infrastructure

6.3. Environmental Monitoring

6.4. Agriculture

6.5. Maritime

6.6. Transportation & Logistics

Chapter -7. Global Satellite Data Services Market by Region 2021-2027

7.1. North America

7.2. Europe

7.3. Asia-Pacific

7.4. RoW

Chapter -8. Company Profiles and Competitive Landscape

8.1. Competitive Landscape in the Global Satellite Data Services Market

8.2. Companies Profiles

8.2.1. Airbus S.A.S

8.2.2. East View Geospatial Inc

8.2.3. ImageSat International

8.2.4. L3Harris Technologies, Inc

8.2.5. Maxar Technologies

8.2.6. Planet Labs Inc

8.2.7. Satellite Imaging Corporation

8.2.8. SpecTIR LLC

8.2.9. Trimble Inc

8.2.10. Ursa Space Systems Inc

More Insights on this Report, Speak to our Analyst: https://www.infiniumglobalresearch.com/reports/enquiry/37878

Reasons to Buy this Report:

=> Comprehensive analysis of global as well as regional markets of the satellite data services.

=> Complete coverage of all the product types and application segments to analyze the trends, developments, and forecast of market size up to 2027.

=> Comprehensive analysis of the companies operating in this market. The company profile includes an analysis of the product portfolio, revenue, SWOT analysis, and the latest developments of the company.

=> Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus on to invest, consolidate, expand and/or diversify.

 

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