Satellite Data Service Market Global Scenario, Market Size, Outlook, Trend, and Forecast, 2019 – 2028

The global satellite data service market was valued at US$ 6.18 billion in 2020 and US$ 7.35 billion in 2021, and is further anticipated to reach US$ 26.73 billion by 2028, registering a CAGR of 20.2% from 2021 to 2028.

Satellite data service market is a procedure which aims in collecting data about earth with the help of man-made satellites that are present on the orbit of the earth. Satellites click and send imagery data of weather & surface of the earth to the authorized centers. Such images are further used in commercial processes termed as commercial satellite imaging. These commercial images are used in securing energy resources, environment management, mapping of projects under construction, surveillance of border areas, development of smart cities and observation of earth. The high-resolution images prove to be highly beneficial in the construction sector. Moreover, demand in earth observatory satellites, demand for satellites in mapping construction sites and advancements in geospatial imagery analytic also propel the growth of global satellite data service market. High usage of satellite data imagery service in the fields of mining, construction, agriculture is fueling the global market extensively. In addition, usage of imagery data in the construction sites providing accurate graphical reference to the engineers is the key factor of the boost of the global satellite data service market. Besides, the technological advancements in the sectors of space like artificial intelligence (AI) and machine learning (ML) is expected to create lucrative opportunities for the global satellite data service market.

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The global satellite data service market is bifurcated on the basis of Service, Vertical, End User and region. Based on service, the image sub-segment is leading the global market in terms of revenue.
Global satellite data service market outlook – APAC is leading the global satellite data service market over a long period of time.
Prominent players in the global satellite data service market:
DigitalGlobe, URSA Space Systems, ImageSat International, L3Harris Technologies, Airbus S.A.S., East View Geospatial Inc., Maxar Technologies, Satellite Imaging Corporation, Ursa Space Systems Inc, SpecTIR LLC and Trimble Inc.

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