Satellite Data Services - Global Market Outlook (2018-2027)
According to Stratistics MRC, the Global Satellite Data Services Market is accounted for $6.29 billion in 2018 and is expected to reach $30.77 billion by 2027 growing at a CAGR of 19.3% during the forecast period. Factors such as privatization of the space industry and significant advancements in emerging countries with the introduction of AI and Big Data are fuelling the market growth. However, lack of dedicated launch vehicles for Small Satellites is hampering the market.
Satellite data or satellite imagery is the process of collecting information about Earth, gathered by manmade satellites in their orbits. The most common use for satellite data is in Earth Observation (EO). Satellites deliver information about the surface and weather changes on the planet Earth. Satellite data services are majorly used in verticals such as agriculture, environmental, engineering & infrastructure, defence & security, energy & power, forestry, transportation & logistics, insurance, and maritime.
Amongst End User, the growth of the commercial segment is estimated to have a lucrative growth during the forecast period due to technological advancement in autonomous drilling and monitoring via satellite will play a key role in commercial industries. By Geography, Asia Pacific is likely to have a huge demand in emerging countries due to increasing adoption of data analytics for satellite imagery by governments such as India, China, and Singapore, to assist urban infrastructure development and planning, map land use, and monitor agriculture under the precision agriculture modules is driving the growth of the market.
Some of the key players in global Satellite Data Services market are Harris Geospatial Solutions, Inc., Earth-I Ltd., East View Geospatial, Blacksky, Satellite Imaging Corporation, Land Info Worldwide Mapping, Airbus SE, Planet Labs, DigitalGlobe, Inc. , SATPALDA Geospatial Services, URSA Space Systems, Ceinsys Tech Ltd., Imagesat International (ISI), ICEYE, Trimble Inc.
• Data Analytics
• Image Data
End Users Covered:
• Defence & Security
• Energy & Power
• Transportation & Logistics
• Engineering & Infrastructure
• Government & Military
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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