Global Satellite Data Services Market Analysis by Industrial Vertical, Application, Region and segments forecast till 2033

Market Overview

The Global Satellite Data Services Market is estimated to reveal a substantial growth of a CAGR 27% during the forecasted period of 2023 to 2033. The global satellite data services market was treasured at USD 5,300 million in 2020, and is estimated to parade an immense transformation and reach USD 73,470 million by 2033.

Report Scope

Global Satellite Data Services Market- Description

The Global Satellite Data Services is the method of gathering information about Earth through manmade satellites in their orbits. The information sent by satellites include weather changes, earth surface information, information about changes in clouds, land, ice, oceans. The satellite also captures the measurement of gasses in the atmosphere such as carbon dioxide, oxygen level etc. The space craft is specifically designed to watch the changes in atmosphere, and also to study the amount of energy absorbed and emitted by Earth. A satellite data is understood as information about Earth and other planets, gathered through manmade satellite. The most common use of satellite data is Earth observation.

Information received from a satellite is used for commercial purpose is also alluded as commercial satellite imaging. This satellite imaging consists, study and monitoring of environment around the globe and its management, securing energy resources and all other study associated with the atmosphere. The satellite study also includes collecting information of border surveillance, constructional projects, weather calamities, disaster management, traffic management and many more. Satellite data is information on Earth’s surrounding or atmosphere derived through manmade space machines.

With the world getting technologically advanced and growing demand for satellite data from several different industrial verticals, along with increased requirement of space observation satellites, is expected to influence the market. Besides, increase in adoption of innovative technology such as AI (artificial intelligence), ML (machine learning), and cloud computing for the development of smart cities is influencing the market. Additionally, rise in use of satellite data for connecting with different metro cities and its development, rise in vehicles embedded with satellite based radio-navigation system is adding the market growth.

Global Satellite Data Services Market: Key Trends

·         Rising adoption of novel AI and ML technology is driving the space sector.

Growing adoption of newer programming technology such as Artificial Intelligence (AI) and Machine Learning (MI) in space sector has generated lucrative opportunities for various service providers to offer AI and ML integrated solutions. The AI integrated platforms offer solutions for factors such as social, industrial and economic processes which were earlier not accessible, while ML platforms practices algorithms that are widely practiced to process daily satellite imagery to classify and detect objects, locate graphic and topographic features and monitor minute changes. Additionally, many manufacturers associated with defense sector initiated novel applications with the help of machine engineering. For instance, Lockheed Martin Corporation a defense contractor developed a software known as Global Automated Target Recognition (GATR). This satellite imagery recognition system is a real time object detection software which is used for quick search of large geographic regions.

·         Demand for real-time remote sensing data is aiding the market.

Rise in need for instantaneous information with an end-to-end solution which ensures information supply matches the intervening capacity of the users is influencing the market. The environmentalists require real time information on environment to manage the natural resources effectively. Satellites with remote sensing data, embedded with GIS (geographic information system) can deliver useful environmental information related to crops, natural hazards coastal zones etc. Unlike other sectors Covid-19 had significantly impacted the global satellite data services market back in 2020. The contagion effected lockdowns caused limitation in manpower due to which the data service market experienced a dip in 2020. The temporary confinements during pandemic effecting dip in various design, development and manufacturing facilities with restricted operational launch stations limited the growth of the market.

Global Satellite Data Services Market: Segmentation Analysis

Application:

• Scientific

• Administrative

• Commercial

The Administrative segment held a largest share in 2020.

Industrial Vertical:

• Defense & Security

• Energy & Power

• Agriculture

• Environmental

• Engineering & Infrastructure

• Marine

• Others

The Environmental segment is anticipated to hold a highest position in terms of the revenue during forecasted timeline.

Global Satellite Data Services Market: Geographical Landscape

Based on the regional overview, the market occupies following regions such as North America, Europe, Asia Pacific, Latin America, and MEA. Region wise, North America stood on largest position and was a leading revenue contributor with revenue share of 33% in 2019.

Global Satellite Data Services Market: Recent Developments

SES S.A. has been expanding its global reach by launching new satellites and forming strategic partnerships with other companies. In November 2020, the company announced that it had successfully launched its SES-17 satellite, which will provide high-speed, reliable connectivity to customers in North America, Central America, the Caribbean, South America, and the Atlantic Ocean.

Global Satellite Data Services Market: Key Companies

·         Airbus S.A.S

·         DigitalGlobe

·         Harris Geospatial Solutions, Inc.

·         Planet Labs, Inc.

·         Ursa Space Systems

·         ICEYE

·         Others

Global Satellite Data Services Market: Regional Scope  

North America

·         U.S.

·         Canada

·         Mexico

Europe

·         U.K.

·         Germany

·         France

·         Italy

·         Spain

·         Rest of Europe

Asia Pacific

·         China

·         India

·         Japan

·         South Korea

·         Australia

·         Rest of Asia Pacific

South America

·         Brazil

·         Argentina

·         Rest of South America

Middle East and Africa

·         Saudi Arabia

·         UAE

·         Egypt

·         South Africa

·         Rest of Middle East and Africa

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