The global satellite data service market reached a value of US$ 6.5 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 17.82 Billion by 2027, exhibiting a CAGR of 18.16% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
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:
IMARC Group provides an analysis of the key trends in each sub-segment of the global satellite data service market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on service, application and vertical.
Breakup by Service:
- Data Analytics
- Image Data
Breakup by Application:
Breakup by Vertical:
- Defence and Security
- Energy and Power
- Engineering and Infrastructure
Breakup by Region:
- North America
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
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.
|Base Year of the Analysis
| Historical Period
||Service, Application, Vertical, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||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.
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Key Questions Answered in This Report:
- How has the global satellite data service market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global satellite data service market?
- What are the key regional markets?
- What is the breakup of the market based on the service?
- What is the breakup of the market based on the application?
- What is the breakup of the market based on the vertical?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global satellite data service market and who are the key players?
- What is the degree of competition in the industry?