Satellite Data Service Market Size to Grow USD 12290 Million by 2030 at a CAGR of 12.3% | Valuates Reports
The global Satellite Data Service market was valued at USD 5421.3 Million in 2023 and is anticipated to reach USD 12290 Million by 2030, witnessing a CAGR of 12.3% during the forecast period 2024-2030.
BANGALORE, India, March 5, 2024 /PRNewswire/ -- Satellite Data Service Market is Segmented by Type (Image Data, Data Analytics), by Application (Environmental, Defense and Security, Surveying and Exploration, Agriculture, Others): Global Opportunity Analysis and Industry Forecast, 2024-2030. It is Published in Valuates Reports Under the Category of Internet & Telecom.
The global Satellite Data Service market was valued at USD 5421.3 Million in 2023 and is anticipated to reach USD 12290 Million by 2030, witnessing a CAGR of 12.3% during the forecast period 2024-2030.
Claim Your Free Sample Now:
Major Factors Driving The Growth Of Satellite Data Service Market
The market for satellite data services is expanding quickly because of developments in satellite technology, such as downsizing, enhanced data transfer capacities, and lower launch expenses, have increased the affordability and accessibility of satellite data for a wider variety of uses.
The market is expanding due to the growing need for real-time Earth observation data from a variety of industries, including forestry, urban planning, agriculture, and disaster relief.
The market's potential is being increased by the advent of new applications that use satellite data, such as infrastructure monitoring, climate monitoring, and autonomous vehicle navigation. Further driving market expansion are the rising expenditures made by both public and commercial sectors in satellite deployment and space exploration.
Unlock Insights: View Full Report Now!
https://reports.valuates.com/market-reports/QYRE-Auto-17H15507/global-satellite-data-service
TRENDS INFLUENCING THE GROWTH OF SATELLITE DATA SERVICE MARKET
The market for satellite data services is propelled by the rising need for Earth observation data for a range of uses, including environmental monitoring, disaster relief, urban planning, and agriculture. Synthetic aperture radar (SAR) and high-resolution imaging sensors on board satellites make it possible to gather precise and fast data about the surface of the Earth, which helps businesses and government organizations make educated decisions and get useful insights. The market for satellite data services is expanding due to developments in remote sensing technology, such as satellite sensors, data analytics, and machine learning algorithms. These technical advancements allow for more complex analysis and applications in fields like infrastructure monitoring, natural resource management, and climate modeling by improving the geographical and temporal resolution, accuracy, and interpretability of satellite data.
The market for satellite data services is expanding as a result of the integration of satellite data with artificial intelligence (AI) and Internet of Things (IoT) technologies. By offering worldwide coverage and context-rich information for applications like asset tracking, supply chain management, and environmental monitoring, satellite-derived data streams may supplement IoT sensor networks. When AI algorithms are used with satellite data, automated analysis, pattern identification, and predictive modeling may be achieved. This opens up new possibilities and fresh insights for companies and organizations.
Defense, security, and intelligence applications using geospatial intelligence (GEOINT) systems. Advanced sensors and image capabilities aboard satellites make it possible to gather intelligence that may be used for military reconnaissance, border monitoring, disaster relief, and counterterrorism activities. The need for satellite data services for GEOINT applications is growing as long as geopolitical tensions remain.
The demand for climate resilience and sustainable resource management is driving the introduction of new use cases in environmental monitoring and agriculture, which is driving the satellite data service industry. Precision agricultural techniques like crop monitoring, yield prediction, and water management are made possible by satellite data, which raises production and ensures food security. Additionally, policy choices and conservation efforts are informed by satellite-based monitoring of environmental indicators including pollution, deforestation, and the effects of climate change. The market for satellite data services is expanding as a result of the increased use of satellite communication services, such as broadband internet, satellite TV, and satellite radio. In areas with insufficient or nonexistent terrestrial infrastructure, these services rely on satellite data transmission and receiving capabilities to deliver access to rural and underserved areas.
The market for satellite data services is expanding as a result of consumer demand for satellite location and navigation systems like GPS, Galileo, and GLONASS. Accurate location, timing, and navigational data are provided by these satellite-based navigation systems for a range of uses, such as outdoor leisure, transit, logistics, and surveying. The need for satellite data services for positioning and navigation is only going to grow as more sectors and consumer markets rely on satellite navigation technology.
Own It Today – Buy Now! https://reports.valuates.com/api/directpaytoken?rcode=QYRE-Auto-17H15507&lic=single-user
SATELLITE DATA SERVICE MARKET SHARE ANALYSIS
With a combined market share of over 35%, the top 5 global manufacturers of satellite data services are Maxar Technologies, Airbus, Planet Labs, L3Harris, and ICEYE. With a market share of almost 17%, Maxar Technologies is the most prominent among them.
With a market share of over 56%, North America leads the market, followed by China and Europe, with respective shares of roughly 22% and 7%. Regarding product category, Image Data holds the most market share, accounting for around 60% of the total. In addition, the environmental field has the most use of any product, followed by surveying and exploration.
Key Players:
- Maxar Technologies
- Airbus
- Planet Labs
- L3Harris
- ICEYE
- BlackSky
- Capella Space
- European Space Imaging
- Satpalda Geospatial Services
- ImageSat International
- Ursa Space Systems
- Satellogic
Purchase Regional Data:
SUBSCRIPTION
We have introduced a tailor-made subscription for our customers. Please leave a note in the Comment Section to know about our subscription plans.
DISCOVER MORE INSIGHTS: EXPLORE SIMILAR REPORTS!
- Satellite Reaction Wheel Market
- The global LEO Satellite market size is estimated to be worth USD 5162.6 Million in 2022 and is forecast to a readjusted size of USD 16740 Million by 2028 with a CAGR of 21.7% during the forecast period 2022-2028.
- Satellite M2M and IoT Network Market
- The global small satellite market size was valued at USD 3215.9 Million in 2020 and is projected to reach USD 13711.7 Million by 2030 growing at a Compound Annual Growth Rate (CAGR) of 16.4%.
- The global Satellite Bus market size is expected to reach USD 11880 Million by 2029, growing at a CAGR of 3.4% from 2023 to 2029.
- The global Satellite Solar Panel market is projected to reach USD 2192.1 Million in 2029, increasing from USD 1526.8 Million in 2022, with the CAGR of 4.9% during the period of 2023 to 2029.
- The global Low-Cost Satellite market was valued at USD 1030 Million in 2023 and is anticipated to reach USD 3992.4 Million by 2030, witnessing a CAGR of 21.1% during the forecast period 2024-2030.
- The global Satellite Communication (SATCOM) market is projected to reach USD 219440 Million in 2029, increasing from USD 171710 Million in 2022, with the CAGR of 3.6% during the period of 2023 to 2029.
- The global Artificial Satellite market is projected to reach USD 2700.9 Million in 2029, increasing from USD 1623 Million in 2022, with the CAGR of 8.0% during the period of 2023 to 2029.
- Earth Observation Satellite Market
- Small Satellite Services market was valued at USD 1030 Million in 2023 and is anticipated to reach USD 3564.1 Million by 2030, witnessing a CAGR of 19.0% during the forecast period 2024-2030.
- Satellite Antenna market size is estimated to be worth USD 2414 Million in 2021 and is forecast to reach size of USD 3592 Million by 2028 with a CAGR of 5.8% during the review period.
- Satellite Imagery market is projected to grow from USD 2992.1 Million in 2023 to USD 8048.5 Million by 2029, at a Compound Annual Growth Rate (CAGR) of 17.9% during the forecast period.
- Satellite Remote Sensing Service Market revenue was USD 2914.9 Million in 2022 and is forecast to a readjusted size of USD 5947.6 Million by 2029 with a CAGR of 10.4% during the review period (2023-2029).
- Satellite Launch System Market
- Satellite Damper market is projected to reach USD 1159.2 Million in 2029, increasing from USD 820 Million in 2022, with a CAGR of 4.9% during the period of 2023 to 2029.
- Satellite Compasse - Global Market Insights and Sales Trends 2024
- Small Satellite Solution Market
- Satellite Manufacturing and Launch Market
- Satellite-as-a-Service (SataaS) Market
- Satellite News Gathering Vehicle(SNG Vehicles) Market
- Government and Military Satellite Communications market size is expected to reach USD 63880 Million by 2029, growing at a CAGR of 4.2% from 2023 to 2029.
- Satellite Ground Station Equipment market size is expected to reach USD 15390 Million by 2029, growing at a CAGR of 4.9% from 2023 to 2029.
- Commercial Satellite Broadband Market revenue was USD 4204.9 Million in 2022 and is forecast to a readjusted size of USD 8472.3 Million by 2029 with a CAGR of 10.4% during the review period (2023-2029).
- Satellite Enabled IoT Software Market
- Medium and Large Satellite market was valued at USD 151110 Million in 2023 and is anticipated to reach USD 182920 Million by 2030, witnessing a CAGR of 2.3% during the forecast period 2024-2030.
- 3D Printing in Low-Cost Satellite market was valued at USD 194.5 Million in 2023 and is anticipated to reach USD 322.6 Million by 2030, witnessing a CAGR of 7.5% during the forecast period 2024-2030.
- Mobile Satellite Phone market size is expected to reach USD 758.6 Million by 2029, growing at a CAGR of 4.2% from 2023 to 2029.
- Military Satellite Payloads and Subsystems Market
- SATCOM Amplifier Systems market was valued at USD 1225.9 Million in 2023 and is anticipated to reach USD 1574.9 Million by 2030, witnessing a CAGR of 3.6% during the forecast period 2024-2030.
DISCOVER OUR VISION: VISIT ABOUT US!
Valuates offers in-depth market insights into various industries. Our extensive report repository is constantly updated to meet your changing industry analysis needs.
Our team of market analysts can help you select the best report covering your industry. We understand your niche region-specific requirements and that's why we offer customization of reports. With our customization in place, you can request for any particular information from a report that meets your market analysis needs.
To achieve a consistent view of the market, data is gathered from various primary and secondary sources, at each step, data triangulation methodologies are applied to reduce deviance and find a consistent view of the market. Each sample we share contains a detailed research methodology employed to generate the report. Please also reach our sales team to get the complete list of our data sources.
YOUR FEEDBACK MATTERS: REACH OUT TO US!
Valuates Reports
[email protected]
For U.S. Toll-Free Call 1-(315)-215-3225
WhatsApp: +91-9945648335
Website: https://reports.valuates.com
Blog: https://valuatestrends.blogspot.com/
Pinterest: https://in.pinterest.com/valuatesreports/
Twitter: https://twitter.com/valuatesreports
Facebook: https://www.facebook.com/valuatesreports/
https://www.facebook.com/valuateskorean
https://www.facebook.com/valuatesspanish
https://www.facebook.com/valuatesjapanese
Logo: https://mma.prnewswire.com/media/1082232/Valuates_Reports_Logo.jpg
View original content:https://www.prnewswire.com/news-releases/satellite-data-service-market-size-to-grow-usd-12290-million-by-2030-at-a-cagr-of-12-3--valuates-reports-302079871.html
SOURCE Valuates Reports
