The global satellite data service market size reached US$ 7.8 Billion in 2022. Looking forward, the market is expected to reach US$ 21.2 Billion by 2028, exhibiting a growth rate (CAGR) of 18.13% during 2022-2028.
Satellite data service refers to the process of gathering information about the earth via artificial satellites. It relies on the usage of radio waves to receive, transmit, and retrieve data through a communication network. It helps in providing global coverage, reliability, enhanced speed, and instant installation. As a result, it is widely used in remote and small areas wherein high-speed Internet and data access are not readily available. Besides this, it is extensively utilized in disaster and traffic management, earth observation, and constructional mapping projects.
Rapid urbanization and rising initiatives for smart city development are among the key factors positively influencing the market. In addition, the rising consumer dependence on smartphones, along with the escalating demand for high-speed Internet services, is contributing to the market growth. In line with this, the increasing need for reliable internet connection at affordable prices across rural and geographically extended locations is bolstering the market growth. Apart from this, the widespread adoption of satellite data services for regular environmental monitoring and management due to the growing concerns about environmental degradation is creating a positive outlook for the market. Additionally, the increasing adoption of the service solution for monitoring border areas and energy resources is acting as another growth-inducing factor. Furthermore, rising investments by several private and public firms in numerous infrastructural development projects worldwide are offering lucrative growth opportunities to manufacturers. Moreover, technological advancements across the aerospace industry, such as the integration of machine learning (ML), artificial intelligence (AI), and cloud computing solutions, are anticipated to propel market growth.
2. What is the expected growth rate of the global satellite data service market during 2023-2028?
3. What are the key factors driving the global satellite data service market?
4. What has been the impact of COVID-19 on the global satellite data service market?
5. What is the breakup of the global satellite data service market based on the service?
6. What is the breakup of the global satellite data service market based on the vertical?
7. What are the key regions in the global satellite data service market?
8. Who are the key players/companies in the global satellite data service market?
Satellite data service refers to the process of gathering information about the earth via artificial satellites. It relies on the usage of radio waves to receive, transmit, and retrieve data through a communication network. It helps in providing global coverage, reliability, enhanced speed, and instant installation. As a result, it is widely used in remote and small areas wherein high-speed Internet and data access are not readily available. Besides this, it is extensively utilized in disaster and traffic management, earth observation, and constructional mapping projects.
Global Satellite Data Service Market Trends
Rapid urbanization and rising initiatives for smart city development are among the key factors positively influencing the market. In addition, the rising consumer dependence on smartphones, along with the escalating demand for high-speed Internet services, is contributing to the market growth. In line with this, the increasing need for reliable internet connection at affordable prices across rural and geographically extended locations is bolstering the market growth. Apart from this, the widespread adoption of satellite data services for regular environmental monitoring and management due to the growing concerns about environmental degradation is creating a positive outlook for the market. Additionally, the increasing adoption of the service solution for monitoring border areas and energy resources is acting as another growth-inducing factor. Furthermore, rising investments by several private and public firms in numerous infrastructural development projects worldwide are offering lucrative growth opportunities to manufacturers. Moreover, technological advancements across the aerospace industry, such as the integration of machine learning (ML), artificial intelligence (AI), and cloud computing solutions, are anticipated to propel market growth.
Key Market Segmentation
This research provides an analysis of the key trends in each sub-segment of the global satellite data service market report, along with forecasts at the global, regional and country level from 2023-2028. The report has categorized the market based on service, application and vertical.Breakup by Service:
- Data Analytics
- Image Data
Breakup by Application:
- Scientific
- Administrative
- Commercial
Breakup by Vertical:
- Defence and Security
- Energy and Power
- Agriculture
- Environmental
- Engineering and Infrastructure
- Marine
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Latin America
- Brazil
- Mexico
- Middle East and Africa
Competitive Landscape
The competitive landscape of the industry has also been examined along with the profiles of the key players being Airbus SE, Ceinsys Tech Limited, Geospatial Intelligence Pyt. Ltd., Gisat S.R.O., ICEYE, L3harris Technologies Inc., Maxar Technologies Inc., Planet Labs Inc., Satellite Imaging Corporation, Telstra Corporation Limited, Trimble Inc. and Ursa Space Systems Inc.Key Questions Answered in This Report
1. How big is the global satellite data service market?2. What is the expected growth rate of the global satellite data service market during 2023-2028?
3. What are the key factors driving the global satellite data service market?
4. What has been the impact of COVID-19 on the global satellite data service market?
5. What is the breakup of the global satellite data service market based on the service?
6. What is the breakup of the global satellite data service market based on the vertical?
7. What are the key regions in the global satellite data service market?
8. Who are the key players/companies in the global satellite data service market?
Table of Contents
1 Preface3 Executive Summary11 Value Chain Analysis13 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global Satellite Data Service Market
6 Market Breakup by Service
7 Market Breakup by Application
8 Market Breakup by Vertical
9 Market Breakup by Region
10 SWOT Analysis
12 Porters Five Forces Analysis
14 Competitive Landscape
Companies Mentioned
- Airbus SE
- Ceinsys Tech Limited
- Geospatial Intelligence Pyt. Ltd.
- Gisat S.R.O.
- ICEYE
- L3harris Technologies Inc.
- Maxar Technologies Inc.
- Planet Labs Inc.
- Satellite Imaging Corporation
- Telstra Corporation Limited
- Trimble Inc.
- Ursa Space Systems Inc.
Methodology
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Table Information
Report Attribute | Details |
---|---|
No. of Pages | 140 |
Published | November 2023 |
Forecast Period | 2022 - 2028 |
Estimated Market Value ( USD | $ 7.8 Billion |
Forecasted Market Value ( USD | $ 21.2 Billion |
Compound Annual Growth Rate | 18.1% |
Regions Covered | Global |
No. of Companies Mentioned | 12 |