Satellite Data Services Global Market Report 2024

Satellite Data Services involve the collection of information about the Earth, obtained by artificial satellites in orbit. This data is utilized to provide insights into surface and weather changes on the planet. Imaging satellites play a crucial role in capturing images of the Earth or other celestial bodies, facilitating effective data monitoring, mapping, and contributing to the development of smart cities and connected vehicles.

The primary types of satellite data services are administrative, commercial, and scientific. Administrative satellite data services are instrumental in the efficient mapping and monitoring of Earth's resources, ecosystems, and events. These services encompass data analytics, image data, and other functionalities, applied in diverse sectors such as energy and power, defense and intelligence, engineering and infrastructure, agriculture, transportation and logistics, among others.

The satellite data services market research report is one of a series of new reports that provides satellite data services market statistics, including satellite data services industry global market size, regional shares, competitors with a satellite data services market share, detailed satellite data services market segments, market trends and opportunities, and any further data you may need to thrive in the satellite data services industry. This satellite data services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future state of the industry.

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 observed in the historical period can be attributed to the increased demand for earth observation data, the emergence of small satellite constellations, improvements in disaster response and management capabilities, a growing demand for precision agriculture, and the 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 anticipated growth in the forecast period can be attributed to the increasing demand from the energy and power sectors, the expanding transportation and logistics sectors, and the growing insurance industry. Key trends expected in the forecast period encompass a rising demand for geospatial analytics, a focus on climate monitoring and environmental sustainability, integration with 5G networks, an increasing demand for Internet of Things (IoT) connectivity, and advancements in satellite imaging technologies.

The satellite data services market is poised for growth due to the increasing demand for satellite data across various industries. Satellite data serves various purposes, including guiding missiles and supporting military activities. Additionally, it provides critical information about changes in the Earth's surface and weather conditions. 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. Equipped with onboard infrared sensors, this $1 billion satellite, constructed by Lockheed Martin, is designed to detect and track plumes generated by missile launches worldwide, enabling the U. S. to anticipate potential threats. The expanding need for satellite data in diverse industries is thus a driving force behind the growth of the satellite data services market.

Government support is expected to play a pivotal role in propelling the satellite data services market. Governments worldwide are recognizing the significance of satellite data in sectors such as agriculture, environmental monitoring, disaster management, and defense. They are implementing financial, regulatory, and policy measures to facilitate and promote the growth of satellite data services. An example is the Chinese government's announcement in May 2021 about plans to launch a mega constellation called 'Guowang' (GW), comprising 13,000 satellites to provide satellite-based internet services. Robust government initiatives are anticipated to contribute significantly to the growth of the satellite data services market.

A notable trend in the satellite data services market is the emergence of new product advancements. Major companies in the sector are actively developing innovative products to enhance their market positions. In March 2023, Chinese defense contractor CASIC (China Aerospace Science and Industry Corporation) prepared to launch the first satellite for a very low Earth orbit (VLEO) constellation. This constellation, consisting of 300 communications and remote-sensing satellites, aims to provide a global ultrafast response capability within 15 minutes, showcasing advancements in satellite technology.

Major companies in the satellite data services market are leveraging artificial intelligence (AI) and machine learning (ML) to optimize efficiency. These technologies enable enhanced data analysis, autonomous satellite navigation, and real-time decision-making, thereby optimizing mission efficiency and reducing operational costs. For example, BAE Systems, a British multinational arms, security, and aerospace company, developed Azalea, a cluster of four multi-sensor satellites using AI and ML for data analysis. The satellites collect optical, radar, and radio frequency (RF) data, which is then analyzed in orbit to deliver resulting intelligence securely worldwide.

In December 2021, Planet, a US-based provider of satellite imagery and geospatial solutions, acquired VanderSat for $28 million. This acquisition is expected to bring Planet a top-tier remote-sensing data science team, accounts in agriculture and insurance verticals, accelerate its software strategy, and expand its footprint in Europe. VanderSat, based in the Netherlands, specializes in providing satellite-observed data, products, and services with a focus on water and crops.

Major companies operating in the 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

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

The countries covered in the satellite data services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.

The satellite data services market includes revenues earned by entities by providing facts about the weather, chemistry, biology, the surface of the earth, and resources. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified)).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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