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

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.