Global Satellite Data Services Market Size, Trends & Growth Opportunity and by Type (Image Data and Data Analytics), By Application (Energy & Power, Engineering & Infrastructure, Environmental Monitoring, Agriculture, Maritime, Transportation & Logistics and others), By Region and Forecast till 2027.

Global Satellite Data Services Market

The Global Satellite Data Services Market is expected to grow from US$ 6.4 Billion in 2021 to US$ 36.7 Billion by 2027; it is estimated to grow at a CAGR of 33.79% from 2021 to 2027.

A satellite data service is a method of acquiring data about the world using man-made satellites. To receive, transmit, and retrieve data over a communication network, it depends on the use of radio waves. It contributes to the provision of worldwide coverage, dependability, increased speed, and immediate installation. It is therefore frequently utilised in isolated and constrained places where high-speed Internet and data connections are not easily accessible. In addition, it is widely used in mapping projects for construction, earth observation, and disaster and traffic management.

Drivers: Earth observation satellites are becoming necessary due to the requirement for ortho-imagery for base maps of wetland, soil, farm-field border, forest inventory, and other natural-resource mapping, analysis, and planning applications. As a result, there is now more demand for earth observation satellites for these types of applications, which is expected to drive the market for satellite data services to grow.

Restraints: In the market for satellite data services, satellite internet latency is a significant limiting factor. Due to the signal's long distance and various barriers, starlight data services can have very poor data transfer due to slow speed and restricted bandwidth. Even a second's worth of delay can have a significant impact on real-time applications like video conferencing. The speed and delay of satellite data can be significantly impacted by both global communications and slight weather variations.

Opportunities: Additionally, growing investments by several public and private companies in a variety of global infrastructure development projects are providing manufacturers with lucrative growth prospects.

Impact of Covid-19

The impact of the lockout even restricted the satellite launch facilities. Due to the shutdown of operating units, the satellite service provider encountered difficult issues. The loss brought on by the pandemic effect is the primary concern of the major market participants in satellite data services. The market participants are putting ideas into practise to make up for the money lost due to the Satellite Data Services Market Outlook. The leading players' initiatives to drive market expansion during the projection period.

Segmentation By Type: Satellite Data Services Market is classified on the basis of Type into Image Data and Data Analytics. One of the crucial elements that aids in capturing photographs of the Earth for satellite-based weather monitoring is the image data segment. This reason is boosting the market for satellite data services' picture data segment.

Segmentation By Application: Satellite Data Services Market is classified on the basis of Application into Energy & Power, Engineering & Infrastructure, Environmental Monitoring, Agriculture, Maritime, Transportation & Logistics and others. Due to the widespread use of satellite data for meteorology, the environmental monitoring segment has been dominating the market share for satellite data services since 2018. Due to the increased use of satellites for technical agricultural tasks like crop monitoring and field mapping, the agriculture sector is anticipated to grow at the fastest rate. Up until the upcoming forecast period, the energy and power category will continue to experience strong expansion.

Segmentation By Region: Satellite Data Services Market is classified on the basis of Region into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Since the previous years, the North American market has dominated the Satellite Data Services Market Outlook, and it is still the largest regional market in terms of growth. Due to the presence of satellite manufacturers, the industry is growing.

Competitive Landscape: The key players of Satellite Data Services Market are Airbus Defense and Space, Satellite Imaging Corporation, Planet Labs Inc., DigitalGlobe, Ursa Space Systems, Satpalda Geospatial Services, ICEYE, Space Exploration Technologies Corp. (SpaceX), ImageSat International N.V., LAND INFO Worldwide Mapping LLC, and Others.

Industrial Development

• The Trimble T7 tablet for GIS data collecting applications was released by Trimble in August 2019. This cutting-edge tablet simplifies the flow of geospatial data between the office and the field for optimal productivity and efficiency via connections to Trimble's collection of survey equipment and Global Navigation Satellite System (GNSS) receivers.
• With exactEarth Ltd., a top supplier of Satellite-AIS data services, L3Harris renewed its contract in Jane 2020. With this deal, exactEarth would receive satellite-AIS data services from L3Harris at a lower cost and with fewer requirements. As a result of the deal, both parties will have more prospects for expansion, and the latter company's partnership with L3Harris will be strengthened as it continues to provide customers all over the world innovative, high-performance satellite maritime service capabilities.

Market Taxonomy

By Type

• Image Data
• Data Analytics

By Application

• Energy & Power
• Engineering & Infrastructure
• Environmental Monitoring
• Agriculture
• Maritime
• Transportation & Logistics
• Others

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Key Questions Addressed by the Report

• What are the Key Opportunities in Satellite Data Services Market?
• What will be the growth rate from 2021 to 2027?
• Which segment/region will have highest growth?
• What are the factors that will impact/drive the Market?
• What is the competitive Landscape in the Industry?
• What is the role of key players in the value chain?