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The global satellite data service market stood at a value of around USD 11.23 billion in 2023. The market is further expected to grow in the forecast period of 2024-2032 at a CAGR of 22.60% to reach USD 70.22 billion by 2032.
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Satellite data service is defined as the activity which entails the assembly, analysis and dissemination of satellite-acquired information which can be used in various fields such as agriculture, military, environment, and disaster management. Such services typically provide worldwide coverage, which means that information can be obtained from far-flung or difficult territories. It enhances the satellite data service demand growth as it allows for the real-time use of data for containment activities like forecasting and tracking of disasters, which requires the provision of very minute detailed geographical information. Satellite data services are economically favourable as they eliminate the unnecessary need for ground surveys and assist in effective resource management. They are also very important in environmental aspects such as climate surveillance and preservation practices, hence such services can not be avoided in the more developed countries for operations and decision-making.
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The increasing need for satellite communication of earth observation data is the primary factor driving the expansion of the growth of the satellite data service market. Campaigns using satellites are ongoing in key sectors such as agriculture for precision farming, environmental monitoring for deforestation effects analysis, and disaster management for effective coordination of resources to respond to disasters. Satellite images are useful in facilitating observation of large areas that are otherwise inaccessible in person to obtain information on things like the conditions of crops, rainfall, and the change in land use. This growing need for accurate, up-to-date information has compelled many economic sectors to seek the services of satellite data which in turn increases the market demand and drives the technological development.
The proliferation of satellite data for defence and security purposes is considerably accelerating the satellite data service industry growth. Countries and military establishments use satellites for reconnaissance, intelligence, and watching wars, frontiers, and army movements. Timely and accurate high-definition images are provided by satellites which help in effective decision-making during defence missions. The need for sophisticated and accurate information urges the acquisition of relevant satellite technology and services, thereby expanding the market. However, with the increase in geopolitical tensions, the demand for more surveillance and intelligence has progressed the use of satellite data services all over the world.
The factors that affect the satellite data service market dynamics and trends are changing due to the commercialisation of outer space which has seen penetration by private players in launching satellites and providing data services that are relatively cheaper and innovation-friendly. Firms such as SpaceX among others have lowered the cost of deploying satellites enabling launches to be done more often and availing satellite information to more people. This has speeded up the innovation of satellite systems and services resulting in an explosion of satellites for different applications. The rapid adoption of satellite data across various industries because of technological advancement and cost reduction.
According to the Defense Systems Information Analysis Center (DSIAC), as of May 2022, China had a total of 541 satellites in various orbits, including low Earth orbit (LEO), medium Earth orbit (MEO), geosynchronous orbit (GEO), and elliptical orbit. These satellites account for roughly 10% of the 5,465 man-made satellites orbiting Earth, according to data from the Union of Concerned Scientists' Satellite Database. Among China's satellites, 137 are affiliated with the People's Liberation Army (PLA), 189 are operated by the Chinese government, and 215 are owned by private commercial entities or universities. A significant portion of these satellites—289—are used for Earth observation, while 100 focus on technological development, 67 on communications, and 49 on global positioning services. The breakdown of orbits shows 426 satellites in LEO, 29 in MEO, and 78 in GEO. China’s expanding satellite presence significantly boosts the satellite data service market revenue.
The U.S. space economy’s 2022 GDP of $131.776 billion signifies a robust investment in space-related industries, including satellite data services. As more satellites are launched and space activities expand, demand for satellite data storage, processing, and analysis will drive growth in the satellite data service market.
In Japan, the rapid expansion of the global space business, with the market projected to grow from USD 469 billion in 2021 to USD 1 trillion by 2040, will significantly boost the satellite data service industry revenue. As more satellites are deployed, the demand for data processing, analysis, and storage will grow across sectors like communications, Earth observation, and defence.
East View Geospatial Inc.
ImageSat International (ISI)
Airbus S.A.S.
L3Harris Technologies, Inc.
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“Global Satellite Data Service Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:
Market Breakup by Vertical
Market Breakup by Service
Market Breakup by End Use
Market Breakup by Region
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Image data services occupy a more significant place in the growth of the satellite data service industry. Satellite images find many applications in several spheres such as agriculture, defence, environmental monitoring, and even urban development planning. Applications include land use mapping, evaluation of crop health, and reconnaissance activities, among others. High-resolution satellite pictures play an important role in real-time management since they allow fast and precise reactions to changes. Due to this extensive use in important sectors, image data services tend to be a dominant factor in the satellite data services market; assisting in the making of decisions across various sectors where geographic information is very accurate and paramount.
The most substantial portion of satellite data service demand is generated from the government and military sectors. This sector relies on satellite data, for instance, for conducting defence surveillance, carrying out intelligence and securing borders. This includes the use of satellite images for monitoring conflicts, disasters, and events on a global scale, allowing for quick and effective solutions. Because of the importance of these applications, certain funds are allocated to tackling satellite data enhancement.
The companies specialise in providing geospatial data and mapping services and offer topographic maps, satellite imagery, and geospatial content, supporting sectors like defence, intelligence, energy, and environmental management.
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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In 2023, the global satellite data service market attained a value of nearly USD 11.23 billion.
The market is projected to grow at a CAGR of 22.60% between 2024 and 2032.
The market is estimated to witness healthy growth in the forecast period of 2024-2032, reaching a value of around USD 70.22 billion by 2032.
The market is broken down into North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
The major drivers of the industry, such as the rising application of satellite data service in the military and defence sector, growing technological advancements, and rising government expenditure towards enhancing urban infrastructure, are expected to aid the market growth.
The key market trends guiding the growth of the industry include the increasing inclination towards artificial intelligence and cloud-based satellite data services.
By vertical, the market is divided into energy and power, defence and intelligence, engineering and infrastructure, environmental, agriculture, maritime, insurance, and transportation and logistics.
Based on service, the market is segmented into data analytics and image data.
Commercial and government and military are the significant end uses of satellite data service.
The competitive landscape consists of East View Geospatial Inc., ImageSat International (ISI), Airbus S.A.S., L3Harris Technologies, Inc., Planet Labs Inc., and Maxar Technologies among others.
Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Vertical |
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Breakup by Service |
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Breakup by End Use |
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Breakup by Region |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
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