The report titled “Global Satellite Data Services Market” assesses the satellite data services market globally based on the basis of technology, application, end use, and region. A comprehensive report provides a detailed market overview and forecast analysis with trend analysis. RationalStat provides market share analysis, product portfolio analysis, year-on-year growth, and Covid-19 impact analysis, an overview of the competition, market strategies, and potential growth areas for the target players evaluated in the global satellite data services market study.
Market Overview and Dynamics: Data Analytics segment is expected to fuel the growth of the global satellite data services market in the upcoming years owing to the rising demand for data analytics services such as image processing, feature extraction, digital models, and classification
The global satellite data services market is expected to grow at a CAGR of around 24% during the forecast period of 2022-2028. The increasing use of satellite imagery by meteorologists to carefully monitor climatic changes and implement necessary corrective actions has fueled the market growth.
Moreover, satellite imagery can be used to assess agricultural conditions and yields, crop health, and vegetation quality in great detail. This will further act as a catalyst in the growth of the global satellite data services market.
In addition, satellite technology advancements have assisted local governments and defense organizations in better understanding and accessing the movement of people and equipment, assessing the damage caused by natural disasters and attacks, and locating disguised bunkers.
Furthermore, the integration of big data analytics and image data has enabled users to make more informed data-driven decisions which are expected to create a pool of opportunities in the upcoming years.
- Based on end use, the Aerospace & Defense sector holds a dominant share in the global satellite data services market whereas engineering & infrastructure holds a significant share in the global satellite data services market.
- Based on region, North America holds a prominent share of the global satellite data services market due to significant investments and lucrative growth opportunities in the region.
Competition Analysis: The emergence of AI and Machine Learning is creating opportunities for the satellite data services market to grow in the upcoming years
Due to the presence of many well-established companies in the global satellite data services market, there is intense competition in the global satellite data services market. Rising demand for data analytics services such as image processing, feature extraction, digital models, and classification that are necessary to create GIS maps and evaluate the information contained in satellite images propel market growth. Additionally, image data is witnessing significant growth in the market.
Acquisitions, product launches, and partnerships are the identified industry trend in the global satellite data services market. Key market players adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market. These players adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market.
- In July 2022, Trimble introduced the new Trimble X12 scanning system to its line of geospatial scanning products. The X12 combines the know-how of two industry leaders into a single solution by integrating Trimble software for accurate data gathering and in-field registration with 3D laser scanning and imaging hardware technology from Zoller+Fröhlich (Z+F).
- In June 2022, Orbital Insight announced its launch of a site intelligence solution to aid financial services, travel, entertainment, and other sectors to make data-driven decisions.
Some of the prominent players that contribute significantly to the growth of the global satellite data services market include ImageStat International, Planet Labs Inc., Orbital Insight, Descartes Labs, Satellogic, Spire Global, Satellite Imaging Corporation, Trimble Inc., L3Harris Technologies, Inc., Airbus S.A.S., Ursa Space Systems Inc., East View Geospatial Inc., and others. These players adopt various strategies to reinforce their market share and gain a competitive edge over other competitors in the market.
RationalStat has segmented the global satellite data services market on the basis of technology, application, end use, and region.
- By Technology
- Optical Satellite Imaging
- Synthetic-Aperture Radar (SAR) Imaging
- By Application
- Government & Military
- By End Use
- Energy & Power
- Aerospace & Defense
- Oil & Gas
- Engineering & Infrastructure
- Environmental & Weather Forecasting
- Others (Maritime, Insurance, etc.)
- By Region
- North America
- Latin America
- Rest of Latin America
- Western Europe
- Rest of Western Europe
- Eastern Europe
- Rest of Eastern Europe
- Asia Pacific
- South Korea
- ASEAN (Indonesia, Vietnam, Malaysia, etc.)
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of the Middle East & Africa
- North America
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