Reliable Data You Can Trust
Reliable Data You Can Trust
A recent report published by
Infinium Global Research on the satellite data services market provides in-depth
analysis of segments and sub-segments in the global as well as regional
satellite data services market. The study also highlights the impact of
drivers, restraints, and macro indicators on the global and regional satellite
data services market over the short term as well as long term. The report is a
comprehensive presentation of trends, forecast and dollar values of the global
satellite data services market. According to the report, 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 growing from nearly USD 6.5 billion in 2021 to
about USD 18.4 billion in 2027.
For the past few decades, satellite data services are evolving at a rapid pace. Satellites are been used
for several purposes such as imaging, navigation, and communication, it is also
been used for research purposes to understand the specific object's targeting
detail. Satellites are been used to capture and provide information about
various space activities related to the things such as celestial bodies. The
most common use for satellite data is Earth Observation (EO) these satellites
deliver information about the surface and changes in weather activities occurring
on the planet Earth. Commercial sectors use satellites for monitoring such as
Mining, forestry, fishing, etc. Satellites communicate through radio waves to
send signals to the antennas present on the Earth. These antennas capture
signals and process the information coming through these signals. The satellite data services market is experiencing advancements in the technologies and response to the
marketplace has to launch vehicles components of performing valuable space
mission activities are a cheaper cost. The COVID-19 outbreak had a significant impact on every industrial
sector across the world. In order to decrease the spread of disease in various
countries, the government imposed a lockdown and restricted people from moving
out of their houses which in turn had an impact on the production activities
due to the unavailability of labor, moreover supply chain activities also got
disrupted due to boundary closure creating delay in delivering the products on
time. This slowdown created a negative
impact on the space launches and lead to the postponement of several missions
during the starting phase of the pandemic. With vaccination going on the
situation is under control, and the satellite data services market will undergo
certain changes, as companies and government agencies are preparing for an innovation shift post lift of the restrictions to rapidly assess and adapt
their supply chains.
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.
Moreover, advancements in geospatial imagery and the rise in several private
firms in the space industry are expected to propel its market growth in the
upcoming years. Furthermore, strict government regulations for the
implementation of satellites and a lack of dedicated launch vehicles for small
satellites hamper its market growth. The increasing implementation of
artificial intelligence (AI), machine learning (ML), and cloud computing in the
space sector and also the demand is rising for the use of satellite data in the
development of smart cities and connected vehicles, and also the rise in
NewSpace movement are some factors expected to offer lucrative opportunities
for the market growth
Among the regions, North America
accounted for the largest share in the global satellite data services market.
Due to a large number of ongoing research studies and investments in this
market, the existence of up-to-date infrastructure to undertake space programs,
and the most rapid and maximum adoption of commercial satellite imaging
throughout various industries in the region. However, the Asia Pacific region
is anticipated to grow with the highest rate in the global satellite data services market over the forecast period. The increasing population in
economically developed nations such as India, Japan, and China, has led to the rise in the demand for satellite
data services, especially in the commercial sector. These sectors include
transportation, IT & telecommunication, automobile, and others.
Furthermore, the advancements done in the military sector, especially in
countries like India and China is expected to boost the demand for satellite
data in the forecasting years
The report on the global satellite data
services market covers segments such as type, and application. On the basis of
type, the sub-markets include image data, and data analytics. On the basis of
application, the sub-markets include energy & power, engineering &
infrastructure, environmental monitoring, agriculture, maritime, transportation
& logistics, and others.
The report provides profiles of
the companies in the market such as 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.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the satellite data services market. Moreover, the study highlights current market trends and provides forecast from 2021-2027. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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