USD 9.39 billion
Satellite Data Services Market Size, Share, Growth Analysis, By Deployment(Public Cloud, Private Cloud, Hybrid Cloud), By Service(Image Data (Spatial {Very high resolution, High resolution, Medium-low resolution}, Spectral), By Vertical(Energy & Power (Mining and Mineral Exploration, Oil & Gas Operation {Pipeline and transmission survey}, Renewable Energy Sources {Wind energy, Solar energy), By End Use(Government & Military (National Space Agencies, Departments of Defense, National Security Agencies, Academic and Research Institutions), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG45J2140 |
Region:
Global |
Published Date: September, 2024
Pages:
197
|Tables:
59
|Figures:
77
Satellite Data Services Market Insights
Global Satellite Data Services Market size was valued at USD 7.85 billion in 2022 and is poised to grow from USD 9.39 billion in 2023 to USD 39.06 billion by 2031, growing at a CAGR of 19.50% during the forecast period (2024-2031).
An artificial satellite service collects information about the Earth from these satellites. Satellites offer information about the planet's surface and weather patterns. Imaging satellites take pictures of Earth and other planets as part of satellite data services. These images are used for business purposes, or commercial satellite imaging. Commercial satellite imaging covers a wide range of uses, including environmental monitoring and management, the safeguarding of energy supplies, the surveillance of border areas, and the mapping of construction projects. Earth photography is essential for a wide range of tasks, including topographical mapping, disaster management, green mapping, traffic control, and infrastructure planning and development. It is projected that factors including the rise in earth observation satellite need, the privatisation of the space industry, and the surge in satellite data demand from various business verticals would all contribute to the market expansion. Government organisations in the area have worked hard to roll out new satellite and navigation systems, which has helped the satellite communications sector flourish even more. For instance, the U.S. Space Force published a list of future standards for commercial satellite communications in October 2022 to help interested suppliers prepare for potential solicitations in the fiscal year 2023. The 11 planned contracts for procurement, according to the service, are expected to endure for the ensuing 11 months. The five-year contract is worth between USD 620 million and USD 630 million, according to estimates. Nevertheless, the market's growth is constrained by stringent governmental regulations governing satellite installation and a lack of specialised launchers for small satellites. Additional factors that are anticipated to provide lucrative growth opportunities for the satellite data services market include an increase in the adoption of artificial intelligence (AI), machine learning (ML).
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Data Analytics
Fastest Growth
Image Data
Growth Rate
19.50% CAGR
Global Satellite Data Services Market ($ Bn)
Country Share for North America Region (%)
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Satellite Data Services Market Segmental Analysis
Global Satellite Data Services Market is segmented based on Vertical, Service, End Use, Deployment. Based on Service, the market is segmented into Data Analytics and Image Data. Based on Deployment, the market is segmented into public cloud, private cloud and hybrid cloud. Based on Vertical, the market is segmented into Energy & Power, Engineering & Infrastructure, Defense & Security, Environmental & Weather, Agriculture, Maritime, Forestry, Transportation & Logistics, Insurance, Academic & Research, and Others. Based on End Use, the market is segmented into Commercial, Government and Military, Service providers and others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Analysis by Service
The market for satellite data services has been divided into two segments: image data and data analytics. The segments of image data processing, feature extraction, digital models, and classification make up the data analytics subsegment. The processing of higher-resolution images frequently presents significant difficulties for data analysis. The need for advanced data analytics services is being driven by the increasing requirement for actionable insights in a variety of industries. When combined with advanced analytics software, satellite data helps businesses to derive relevant and useful information for decision-making. Analysing satellite data is essential for tracking environmental changes and determining the effects of climate change. Analysing temperature changes, deforestation, and other environmental trends helps decision-makers manage resources sustainably by making well-informed choices.
Analysis by End Use
The market for satellite data services is expected to see significant expansion in the business sector. Businesses are using satellite data services for a variety of purposes as the need for geospatial data grows in a variety of industries, including infrastructure, energy, agriculture, and environmental monitoring. These consist of market research, asset monitoring, mapping, and urban planning. Furthermore, improvements in data analytics and higher-resolution images made possible by satellite technology are providing commercial users with more insightful and useful information. The commercial segment of the satellite data services market is anticipated to grow significantly as companies realise the competitive benefits provided by satellite data.
Analysis by Vertical
The satellite data services market has been divided into the following segments: Energy & Power, Engineering & Infrastructure, Defence & Security, Environmental & Weather, Agriculture, Maritime, Forestry, Transportation & Logistic, Insurance, Academic & Research, and Others. This division is based on vertical analysis. In the market for satellite data services, the agriculture area is expected to grow at the fastest rate (CAGR). Farmers are increasingly looking to satellite data for precision agriculture solutions due to the growing global population and food demand. Crop health monitoring, risk mitigation, and resource allocation are all made easier with the help of satellite photography. With the development of technology, including higher-resolution sensors and data analytics, satellite data services provide farmers with insightful information to increase sustainability and production. In the upcoming years, there will likely be a substantial increase in the market due to the growing need for satellite data-driven solutions in agriculture.
Global Satellite Data Services Market By Service ($ Bn)
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Satellite Data Services Market Regional Insights
With the highest market share and a CAGR of 19.6%, North America will continue to dominate the industry. The deployment of commercial satellites, which is expected to spur future expansion in satellite data services, is being made possible thanks to significant investments from a number of regional governments. North America is predicted to have the highest and earliest adoption of commercial satellite imaging across a wide range of businesses, as well as sophisticated space project infrastructure. Furthermore, the North American sector has a sizable window of opportunity due to increased concerns about satellite-based surveillance.
The region with a CAGR of 19.4% will hold USD 7,818 million. The governments of several nations, including India and China, are promoting the growth of the satellite data service market in the Asia-Pacific region in order to boost the defense and agricultural sectors of their respective countries. The growth of the satellite data service market in the region is supported by increased adoption of satellite imaging and data analytics by governments in countries like India, China, and Singapore to help with urban infrastructure development and planning as well as to monitor the ocean and agriculture under precision agriculture modules. For instance, in 2020 the Jiuquan Satellite Launch Centre in northwest China launched the brand-new ocean surveillance satellite HY-2C. It has a 24-hour observational capability for wave height, sea surface height, wind speed, direction, and temperature.
Global Satellite Data Services Market By Geography
- Largest
- Fastest
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Satellite Data Services Market Dynamics
Satellite Data Services Market Drivers
Demand for Earth Observation and Remote Sensing
- The demand for satellite data services is driven by the growing need for Earth observation and remote sensing applications. Satellite imagery and data provide valuable insights into various aspects such as environmental monitoring, agriculture, urban planning, disaster management, and natural resource exploration. Governments, research institutions, and industries rely on satellite data to make informed decisions and monitor changes in the Earth's surface.
Growing Need for Location-Based Services
- The expansion of location-based services (LBS) across various industries, such as transportation, logistics, and mobile application, is driving the demand for satellite data services. LBS applications rely on accurate positioning data obtained from satellite systems like GPS to enable services like navigation, fleet management, asset tracking, and geolocation-based marketing. The increasing integration of LBS in various sectors fuels the demand for satellite data services.
Satellite Data Services Market Restraints
Limited Access to Remote Areas
- While satellite data services provide global coverage, there may still be limitations in accessing remote or inaccessible areas due to factors such as obstructed line of sight, challenging terrain, or adverse weather conditions. These limitations can affect the availability and reliability of satellite data services in certain regions, particularly in remote and underdeveloped areas.
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Satellite Data Services Market Competitive Landscape
International organizations have begun working with governmental and non-governmental organizations to create satellites that provide ultra-high-resolution SAR imaging, which aids in improved decision making. By providing satellite imaging data, which is routinely recorded at a worldwide scale and gives photos at increasingly relevant resolutions, new competitors like Planet Labs, Inc. and UrtheCast are upending the market.
Satellite Data Services Market Top Player’s Company Profiles
- Airbus (France)
- Maxar Technologies (US)
- L3Harris Technologies, Inc. (US)
- Planet Labs, PBC (US)
- ICEYE (Finland)
- Ursa Space Systems, Inc (US)
- Satpalda (India)
- Earth-i Ltd. (UK)
- ImageSat International (ISI) (Israel)
- Ceinsys Tech Ltd. (India)
- East View Geospatial, Inc (US)
- Trimble Inc. (US)
- Spectir (US)
- GISAT S.R.O. (Czech Republic)
- PlanetObserver (France)
- BlackSky (US)
- ESRI (US)
- RMSI (India)
- Orbital Insight (US)
- Spire Global (US)
- Birdi Ltd. (US)
- Descartes Labs, Inc (US)
- Satelytics (US)
- Apollo Mapping (US)
- Pixxel Mapping (India)
- HERE Technologies (Netherlands)
Satellite Data Services Market Recent Developments
- In September 2023, in an article of SPACENEWS, Phillepe Pham said that the growing need to tackle climate change presents a transformational growth opportunity for the Earth observation industry, executives from an international mix of companies in this market.
- In August 2023, city-based space sector start-up GalaxEye Space Solutions Pvt Ltd claimed it has developed a drone based synthetic aperture radar (SAR).
- In June 2023, CEYE's Four New Generation 3 Satellites Launch with SpaceX's Transporter-8, Introducing High-Resolution Spot Fine Image Product.
- In March 2023, Planet Labs announced the launch of its new constellation of 210 Dove satellites. The new constellation will provide high-resolution imagery of the Earth every day.
- In February 2023, Airbus Defense and Space announced the launch of its new Earth observation satellite, Sentinel-6 Michael Freilich. The satellite will collect data on sea level rise and ocean health.
- In January 2023, Maxar Technologies announced the acquisition of Digital Globe. The acquisition will create a leading provider of commercial satellite imagery and geospatial data.
Satellite Data Services Key Market Trends
Growth of Earth Observation Constellations
-
Earth observation constellations comprise a network of satellites working together to capture comprehensive and frequent imagery of the Earth's surface. Companies are deploying constellations of satellites to provide near-real-time and high-resolution data for various applications. The trend towards Earth observation constellations enables enhanced coverage, improved revisit times, and enables faster data acquisition for satellite data services.
Satellite Data Services Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analyses, the global satellite data services market is experiencing significant growth and is poised for further expansion in the coming years. Satellite data services play a vital role in providing valuable information for various applications, including Earth observation, remote sensing, navigation, and communication. The market encompasses a wide range of services, including satellite imagery, data analytics, geospatial solutions, and location-based services. The key drivers of the market is the increasing demand for Earth observation and remote sensing applications. Governments, research institutions, and industries rely on satellite data to monitor environmental changes, support urban planning, enhance agriculture practices, and improve disaster management. The need for accurate and up-to-date information for decision-making is fuelling the adoption of satellite data services across sectors.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 7.85 billion |
| Market size value in 2031 | USD 39.06 billion |
| Growth Rate | 19.50% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Satellite Data Services Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Satellite Data Services Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Satellite Data Services Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Satellite Data Services Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Satellite Data Services Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Satellite Data Services Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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