Satellite Data Services Market is Expected to Rise at a Revenue of US$ 44,356.6 Million By 2031 | Astute Analytica
𝐒𝐚𝐦𝐩𝐥𝐞 𝐨𝐟 𝐓𝐡𝐢𝐬 𝐒𝐭𝐫𝐚𝐭𝐞𝐠𝐢𝐜 𝐑𝐞𝐩𝐨𝐫𝐭@- https://www.astuteanalytica.com/request-sample/satellite-data-services-market
The global satellite data services market expansion is due to the increasing usefulness of satellite imaging data across numerous industries. Global satellite data services offer an abundance of data that can be used in a variety of ways. For instance, businesses in the logistics and transportation sector are utilizing this technology to improve delivery times and optimize their routes.
Global satellite data services have made it possible for risk management to expand in new ways. In order to expedite the claims process, insurance firms, for instance, use satellite imagery to evaluate property damage following natural catastrophes. Financial institutions are also using this technology to track economic activity and generate precise projections, which helps them evaluate risks and make decisions.
The market is growing due to the rising investment by a variety of countries in tiny satellites and a rise in the demand for earth observation satellites. For instance, in February 2022, the Space Development Agency (SDA), a division of the US Department of Defense (DoD), granted Lockheed Martin Corporation a contract for the design of 42 tiny satellites worth US$ 700 million.
The market is expanding due to the increasing use of artificial intelligence (AI) and big data analytics in the space industry for analyzing satellite imagery, rising enterprise demand for satellite data to maintain their competitiveness in the market, and adoption of 4D GIS software with satellite data. The Global Automated Target Recognition System (GATR), designed by defense firms like Lockheed Martin Corporation, can identify targets in satellite images. In the near future, these advancements are anticipated to present opportunities for the market.
𝐃𝐚𝐭𝐚 𝐀𝐧𝐚𝐥𝐲𝐭𝐢𝐜𝐬 𝐒𝐞𝐫𝐯𝐢𝐜𝐞𝐬 𝐂𝐚𝐩𝐭𝐮𝐫𝐞 𝐌𝐨𝐫𝐞 𝐓𝐡𝐚𝐧 𝐇𝐚𝐥𝐟 𝐨𝐟 𝐭𝐡𝐞 𝐑𝐞𝐯𝐞𝐧𝐮𝐞 𝐒𝐡𝐚𝐫𝐞
In 2022, the data analytics service segment generated the highest revenue share of about 58.36% in the satellite data services market. The segment is anticipated to grow at the highest CAGR of 21.2% from 2023 to 2031 due to the growing demand for accurate and real-time data. The development of data processing methods, artificial intelligence, and machine learning algorithms, which have improved the capabilities of satellite data analytics, is responsible for the segment's expansion.
The market is expanding owing to rising demand for data processing, digital models for creating GIS maps, and the growing use of satellite imagery for monitoring crops, coastal traffic, and flooding. For instance, in March 2023, the Earth observation data and insights business Planet announced that it had acquired the Slovenian cloud-based geospatial data platform supplier Sinergise. The acquisition will help Planet build out its data analysis platform and enable it to provide its clients with a wider range of geospatial data services.
𝐆𝐞𝐨𝐬𝐩𝐚𝐭𝐢𝐚𝐥 𝐓𝐞𝐜𝐡𝐧𝐨𝐥𝐨𝐠𝐲 𝐆𝐞𝐧𝐞𝐫𝐚𝐭𝐞𝐬 𝐀𝐛𝐨𝐮𝐭 𝟑𝟏.𝟔% 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐯𝐞𝐧𝐮𝐞 𝐒𝐡𝐚𝐫𝐞
In 2022, the geospatial technology segment captured about 31.64% of the revenue share in the satellite data services market. Applications, including mapping, urban planning, infrastructure construction, and environmental monitoring all make use of geospatial technology. Geospatial technologies' improved capabilities owing to the ongoing development and integration have aided in the segment's dominance of the market.
By utilizing technologies like artificial intelligence, satellite imagery, and real-time data to foster location-powered innovation and advance the use of location data in real estate, transportation, utilities, and other sectors, the UK Geospatial Strategy 2030 will unleash billions of pounds in economic benefits.
𝐀𝐠𝐫𝐢𝐜𝐮𝐥𝐭𝐮𝐫𝐞, 𝐄𝐧𝐠𝐢𝐧𝐞𝐞𝐫𝐢𝐧𝐠, 𝐚𝐧𝐝 𝐈𝐧𝐟𝐫𝐚𝐬𝐭𝐫𝐮𝐜𝐭𝐮𝐫𝐞 𝐚𝐫𝐞 𝐭𝐡𝐞 𝐌𝐚𝐣𝐨𝐫 𝐄𝐧𝐝-𝐔𝐬𝐞𝐫𝐬 𝐨𝐟 𝐒𝐚𝐭𝐞𝐥𝐥𝐢𝐭𝐞 𝐃𝐚𝐭𝐚 𝐒𝐞𝐫𝐯𝐢𝐜𝐞𝐬
With a market share of 18.27% in 2022, the agriculture segment dominated the satellite data services market. Global satellite data services are also beneficial to the agriculture sector. Farmers and agribusinesses are using satellite imaging to better manage resources, forecast harvests, and monitor crop health. In addition to increasing productivity, this also lessens waste and has a positive influence on the environment, which supports sustainable farming methods.
The engineering and infrastructure segment is expected to exhibit the highest CAGR of 23.5%. The increasing importance of infrastructure development, urban planning, and building activities drives the global market. Satellite data is a useful resource in the engineering and infrastructure sectors due to its capacity to deliver precise information for site selection, project monitoring, and infrastructure planning. For instance, the Italian road agency is using Copernicus satellite data to detect and monitor unstable ground, which is helping to improve national road infrastructure safety.
𝐍𝐨𝐫𝐭𝐡 𝐀𝐦𝐞𝐫𝐢𝐜𝐚 𝐚𝐧𝐝 𝐄𝐮𝐫𝐨𝐩𝐞 𝐇𝐚𝐬 𝐏𝐫𝐨𝐟𝐢𝐭𝐚𝐛𝐥𝐞 𝐎𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐢𝐞𝐬 𝐢𝐧 𝐭𝐡𝐞 𝐆𝐥𝐨𝐛𝐚𝐥 𝐌𝐚𝐫𝐤𝐞𝐭
In 2022, North America generated about 40% of the revenue share, and Europe captured about 30% of the revenue share. Government programs, alliances with business organizations, and the existence of significant satellite producers all contribute to the region's dominance.
The creation of the new National Space Strategy allows the North American government to collaborate with businesses in the private sector in order to build a strong defense against threats from space-bound attacks.
Additionally, the U.S. openly releases Landsat satellite photos, promising productivity gains and financial gains for consumers. These initiatives have led to the establishment of numerous tiny satellite producers that provide continuous feed about the earth's surface, like Pumpkin Space Systems Inc. and AAC Clyde Space.
Europe's Common Agriculture Policy (CAP), the UN Convention for Combating Desertification and Land Degradation, the EU Raw Materials Initiative, and the Soil Framework Directive are just a few of the laws and programs that the European Union has introduced in partnership with other international organizations.
These organizations use the Copernicus Hyperspectral Imaging Mission for the Environment (CHIME) mission data to benefit their clients. In order to effectively manage the demand and supply side of its satellite-based data, economies, including The Netherlands, have created their own imagery portal, the National Satellite Data Portal, run by the Netherlands Space Office (NSO).
The region has also started working on the Retro Propulsion Assisted Landing Technologies (RETALT) project, which is creating a dependable, reusable, and less expensive technology, reducing the cost of accessing space. The European Copernicus Program's massive production of satellite data and the public's open access to it present several promising options for the creation of new goods and applications.
𝐓𝐨𝐩 𝟒 𝐏𝐥𝐚𝐲𝐞𝐫𝐬 𝐂𝐚𝐩𝐭𝐮𝐫𝐞 𝐀𝐛𝐨𝐮𝐭 𝟕𝟎% 𝐨𝐟 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐯𝐞𝐧𝐮𝐞 𝐒𝐡𝐚𝐫𝐞
Major firms are concentrating on growing their global client base through joint ventures, partnerships, and strategic collaboration to boost their market share and profitability. The top 4 players in the market are Airbus S.A.S., Maxar Technologies, NV5, and Planet Labs PBC.
Airbus SE is a multinational aerospace company based in Europe leading the market with a revenue share of 52.59%. Commercial aircraft design and production are the company's main businesses. The business also comprises distinct helicopter, commercial, and defense and space sectors.
𝐀𝐜𝐜𝐞𝐬𝐬 𝐭𝐨 𝐌𝐨𝐫𝐞 𝐅𝐮𝐥𝐥 𝐃𝐞𝐭𝐚𝐢𝐥𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭@- https://www.astuteanalytica.com/industry-report/satellite-data-services-market
𝐏𝐫𝐨𝐦𝐢𝐧𝐞𝐧𝐭 𝐂𝐨𝐦𝐩𝐚𝐧𝐢𝐞𝐬
• Airbus SE
• Earth-i Ltd
• East View Geospatial Inc.
• EOS Data Analytics (EOSDA)
• ICEYE
• ImageSat International (ISI)
• L3Harris Technologies, Inc.
• LAND INFO Worldwide Mapping
• Maxar Technologies
• NV5 Geospatial Solutions, Inc.
𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧 𝐎𝐮𝐭𝐥𝐢𝐧𝐞
𝐓𝐡𝐞 𝐠𝐥𝐨𝐛𝐚𝐥 𝐬𝐚𝐭𝐞𝐥𝐥𝐢𝐭𝐞 𝐝𝐚𝐭𝐚 𝐬𝐞𝐫𝐯𝐢𝐜𝐞𝐬 𝐦𝐚𝐫𝐤𝐞𝐭 𝐬𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧 𝐟𝐨𝐜𝐮𝐬𝐞𝐬 𝐨𝐧 𝐒𝐞𝐫𝐯𝐢𝐜𝐞, 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲, 𝐓𝐞𝐜𝐡𝐧𝐨𝐥𝐨𝐠𝐲, 𝐀𝐩𝐩𝐥𝐢𝐜𝐚𝐭𝐢𝐨𝐧, 𝐚𝐧𝐝 𝐑𝐞𝐠𝐢𝐨𝐧.
𝐁𝐲 𝐒𝐞𝐫𝐯𝐢𝐜𝐞
• Data Analytics
o Land and Water State of Agriculture and Environment Analysis
o Historic Agricultural and Environmental Metrics
o Identify Trends from Satellite Indices
o Crop Performance
o Natural Resource Management
o Risk Management
• Image Data
o Geospatial
o Others
𝐁𝐲 𝐓𝐞𝐜𝐡𝐧𝐨𝐥𝐨𝐠𝐲
• Optical and Radar Imagery Technology
• Synthetic Aperture Radar (SAR) Active Remote Sensing Technology
• Geospatial Technology
• Others
𝐁𝐲 𝐀𝐩𝐩𝐥𝐢𝐜𝐚𝐭𝐢𝐨𝐧
• Land Satellite Data Range
o Agriculture Harvest Monitoring & Field Segmentation
o Security Surveillance
o Infrastructure & Construction Monitoring
o Mapping of Areas Affected by Natural Disasters
o Interferometry
o Oil Pipeline Monitoring
• Sea/Maritime Satellite Data Range
o Prevention of Illegal Fishing
o Coastal Security
o Monitoring Port and Sea Traffic
o Ice Monitoring and Iceberg Tracking
o Natural and Man-Made Catastrophe Responses
o Others
𝐁𝐲 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲
• Defense & Security
o Crime Mapping
o National Mapping & Topographic Agencies
o Surveillance
• Energy & Power
o Mining And Mineral Exploration
o Oil And Gas Operation
• Agriculture
• Environmental
• Engineering & Infrastructure
• Marine
• Forestry
• Transportation & Logistics
• Insurance and Finance
• Media And Entertainment
• Others
𝐁𝐲 𝐑𝐞𝐠𝐢𝐨𝐧
• North America
o The U.S.
o Canada
o Mexico
• Europe
• Western Europe
The UK
Germany
France
Italy
Spain
o Rest of Western Europe
• Eastern Europe
Poland
Russia
o Rest of Eastern Europe
• Asia Pacific
o China
o India
o Japan
o Australia & New Zealand
o South Korea
o ASEAN
o Rest of Asia Pacific
• Middle East & Africa
o Saudi Arabia
o South Africa
o UAE
o Rest of MEA
• South America
o Argentina
o Brazil
o Rest of South America
𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐒𝐭𝐫𝐚𝐭𝐞𝐠𝐢𝐜 𝐑𝐞𝐩𝐨𝐫𝐭@- https://www.astuteanalytica.com/request-sample/satellite-data-services-market
𝐀𝐛𝐨𝐮𝐭 𝐀𝐬𝐭𝐮𝐭𝐞 𝐀𝐧𝐚𝐥𝐲𝐭𝐢𝐜𝐚:
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Astute Analytica
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