Satellite Data Service Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Satellite Data Service Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global satellite data service market size reached US$ 7.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 21.2 Billion by 2028, exhibiting a growth rate (CAGR) of 18.13% during 2022-2028.

Satellite data service refers to the process of gathering information about the earth via artificial satellites. It relies on the usage of radio waves to receive, transmit, and retrieve data through a communication network. It helps in providing global coverage, reliability, enhanced speed, and instant installation. As a result, it is widely used in remote and small areas wherein high-speed Internet and data access are not readily available. Besides this, it is extensively utilized in disaster and traffic management, earth observation, and constructional mapping projects.

Global Satellite Data Service Market Trends:

Rapid urbanization and rising initiatives for smart city development are among the key factors positively influencing the market. In addition, the rising consumer dependence on smartphones, along with the escalating demand for high-speed Internet services, is contributing to the market growth. In line with this, the increasing need for reliable internet connection at affordable prices across rural and geographically extended locations is bolstering the market growth. Apart from this, the widespread adoption of satellite data services for regular environmental monitoring and management due to the growing concerns about environmental degradation is creating a positive outlook for the market. Additionally, the increasing adoption of the service solution for monitoring border areas and energy resources is acting as another growth-inducing factor. Furthermore, rising investments by several private and public firms in numerous infrastructural development projects worldwide are offering lucrative growth opportunities to manufacturers. Moreover, technological advancements across the aerospace industry, such as the integration of machine learning (ML), artificial intelligence (AI), and cloud computing solutions, are anticipated to propel market growth.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global satellite data service market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on service, application and vertical.

Breakup by Service:

Data Analytics
Image Data

Breakup by Application:

Scientific
Administrative
Commercial

Breakup by Vertical:

Defence and Security
Energy and Power
Agriculture
Environmental
Engineering and Infrastructure
Marine
Others

Breakup by Region:

North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Airbus SE, Ceinsys Tech Limited, Geospatial Intelligence Pyt. Ltd., Gisat S.R.O., ICEYE, L3harris Technologies Inc., Maxar Technologies Inc., Planet Labs Inc., Satellite Imaging Corporation, Telstra Corporation Limited, Trimble Inc. and Ursa Space Systems Inc.

Key Questions Answered in This Report
1. How big is the global satellite data service market?
2. What is the expected growth rate of the global satellite data service market during 2023-2028?
3. What are the key factors driving the global satellite data service market?
4. What has been the impact of COVID-19 on the global satellite data service market?
5. What is the breakup of the global satellite data service market based on the service?
6. What is the breakup of the global satellite data service market based on the vertical?
7. What are the key regions in the global satellite data service market?
8. Who are the key players/companies in the global satellite data service market?