The satellite data services global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Satellite Data Services Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The satellite data services market size has grown rapidly in recent years. It will grow from $9.07 billion in 2023 to $10.8 billion in 2024 at a compound annual growth rate (CAGR) of 19.0%. The growth in the historic period can be attributed to increased demand for earth observation data, emergence of small satellite constellations, enhanced disaster response and management, growing demand for precision agriculture, commercialization of space activities..
The satellite data services market size is expected to see rapid growth in the next few years. It will grow to $22.08 billion in 2028 at a compound annual growth rate (CAGR) of 19.6%. The growth in the forecast period can be attributed to increasing demand from the energy and power sectors, growing transportation and logistics sectors, growing insurance industry. Major trends in the forecast period include demand for geospatial analytics, focus on climate monitoring and environmental sustainability, integration with 5g networks, rising demand for internet of things (iot) connectivity, advancements in satellite imaging technologies..
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Scope Of Satellite Data Services Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Market Drivers –
The increasing need for satellite data in various industries is expected to propel the growth of the satellite data services market going forward. The most common use of satellite data is to guide missiles and other military activities. Satellite data services also provide information about changes in the earth’s surface and weather. For instance, in May 2021, United Launch Alliance (ULA), a US-based rocket manufacturer, launched the fifth Space-Based Infrared System satellite for the U.S. space force. With the help of its onboard infrared sensors, the $1 billion satellite, built by Lockheed Martin, is designed to recognize and track plumes produced by missile launches throughout the world. Its abilities would allow the US to prepare for any imminent attacks. Therefore, the increasing need for satellite data in various industries is driving the growth of the satellite data services market.
Market Trends –
Product innovations have emerged as the key trend gaining popularity in the 5G chipset market. The major players in the market are developing innovative products for market growth. For instance, in June 2021, Samsung Electronics, a South Korea-based electronics company, developed 3GPP Rel.16 compliant chipsets, a range of next-generation 5G chipsets that deliver cutting-edge 5G technologies. The new chipsets consist of a second-generation 5G modem System-on-Chip (SoC), a third-generation mmWave Radio Frequency Integrated Circuit (RFIC) chip, and a Digital Front End (DFE)-RFIC integrated chip. These are designed to increase power efficiency, boost performance, and reduce the size of 5G solutions.
The satellite data services market covered in this report is segmented –
1) By Type: Administrative, Commercial, Scientific
2) By Service: Data Analytics, Image Data, Other Services
3) By Application: Energy and Power, Defense and Intelligence, Engineering and Infrastructure, Transportation and Logistics, Agriculture, Other Applications
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Regional Insights –
North America was the largest region in the satellite data services market in 2023. The regions covered in the satellite data services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Key Companies –
Major companies operating in the satellite data services market report are Airbus S. A. S., East View Geospatial Inc., ImageSat International, L3Harris Technologies Inc., Maxar Technologies, Ceinsys Tech Ltd., Earth-i Ltd., ICEYE, Planet Labs Inc., Satellite Imaging Corporation, Space Exploration Technologies Corp., SpecTIR LLC, Trimble Inc., Ursa Space Systems Inc., Birdi Ltd., BlackSky Technology, Capella Space, Descartes Labs, DigitalGlobe, Geospatial Intelligence Pty Ltd., Gisat S. R. O., Harris Geospatial Solutions, HawkEye 360, OmniEarth Inc., Orbital Insight, SATPALDA Geospatial Services, SatSure AG, Spire Global Inc., Terrafuse, EUMETSAT
Table of Contents
1. Executive Summary
2. Satellite Data Services Market characterstics
3. Satellite Data Services Market Trends And Strategies
4. Satellite Data Services Market – Macro Economic Scenario
5. Global Satellite Data Services Market Size And Growth
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31. Global Satellite Data Services Market Competitive Benchmarking
32. Global Satellite Data Services Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Satellite Data Services Market
34. Satellite Data Services Market Future Outlook and Potential Analysis
35. Appendix
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