Satellite Data Services Market Forecast 2024-2033: Projected CAGR, Key Drivers, And Trends

Overview and Scope
Satellite Data Services refer to the process of collecting information about the earth, which is gathered by manmade satellites in their orbits to provide information about surface and weather changes on the planet. Images of the earth or other planets are taken with the assistance of imaging satellites to enable efficient data monitoring and mapping and are also used in the development of smart cities and connected vehicles.

Sizing and Forecast
The satellite data services market size has grown rapidly in recent years. It will grow from $9.07 billion in 2023 to $10.8 billion in 2024 at a compound annual growth rate (CAGR) of 19.0%. The growth in the historic period can be attributed to increased demand for earth observation data, emergence of small satellite constellations, enhanced disaster response and management, growing demand for precision agriculture, commercialization of space activities..

The satellite data services market size is expected to see rapid growth in the next few years. It will grow to $22.08 billion in 2028 at a compound annual growth rate (CAGR) of 19.6%. The growth in the forecast period can be attributed to increasing demand from the energy and power sectors, growing transportation and logistics sectors, growing insurance industry. Major trends in the forecast period include demand for geospatial analytics, focus on climate monitoring and environmental sustainability, integration with 5g networks, rising demand for internet of things (iot) connectivity, advancements in satellite imaging technologies..

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Segmentation & Regional Insights
The satellite data services market covered in this report is segmented –

1) By Type: Administrative, Commercial, Scientific
2) By Service: Data Analytics, Image Data, Other Services
3) By Application: Energy and Power, Defense and Intelligence, Engineering and Infrastructure, Transportation and Logistics, Agriculture, Other Applications

North America was the largest region in the satellite data services market in 2023. The regions covered in the satellite data services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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Major Driver Impacting Market Growth
The increasing need for satellite data in various industries is expected to propel the growth of the satellite data services market going forward. The most common use of satellite data is to guide missiles and other military activities. Satellite data services also provide information about changes in the earth’s surface and weather. For instance, in May 2021, United Launch Alliance (ULA), a US-based rocket manufacturer, launched the fifth Space-Based Infrared System satellite for the U.S. space force. With the help of its onboard infrared sensors, the $1 billion satellite, built by Lockheed Martin, is designed to recognize and track plumes produced by missile launches throughout the world. Its abilities would allow the US to prepare for any imminent attacks. Therefore, the increasing need for satellite data in various industries is driving the growth of the satellite data services market.

Key Industry Players
Major companies operating in the satellite data services market report are Airbus S. A. S., East View Geospatial Inc., ImageSat International, L3Harris Technologies Inc., Maxar Technologies, Ceinsys Tech Ltd., Earth-i Ltd., ICEYE, Planet Labs Inc., Satellite Imaging Corporation, Space Exploration Technologies Corp., SpecTIR LLC, Trimble Inc., Ursa Space Systems Inc., Birdi Ltd., BlackSky Technology, Capella Space, Descartes Labs, DigitalGlobe, Geospatial Intelligence Pty Ltd., Gisat S. R. O., Harris Geospatial Solutions, HawkEye 360, OmniEarth Inc., Orbital Insight, SATPALDA Geospatial Services, SatSure AG, Spire Global Inc., Terrafuse, EUMETSAT

The satellite data services market report table of contents includes:

1. Executive Summary

2. Satellite Data Services Market Characteristics

3. Satellite Data Services Market Trends And Strategies

4. Satellite Data Services Market – Macro Economic Scenario

5. Global Satellite Data Services Market Size and Growth

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31. Global Satellite Data Services Market Competitive Benchmarking

32. Global Satellite Data Services Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Satellite Data Services Market

34. Satellite Data Services Market Future Outlook and Potential Analysis

35. Appendix

Top Major Players:

Airbus S. A. S.

East View Geospatial Inc.

L3Harris Technologies Inc

Maxar Technologies

Ceinsys Tech Ltd

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