Satellite Data Service Market Share, Trends, Size, Industry Growth And Forecast 2022-2027

According to the latest report by IMARC Group "Satellite Data Service Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027", The global satellite data service market reached a value of US$ 6.5 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 17.82 Billion by 2027, exhibiting a CAGR of 18.3% during 2022-2027.

Satellite data service is an internet service that is generally provided to individual users and multiple businesses via geostationary satellites. It involves the utilization of radio waves for transmitting high-speed wireless data connections. Additionally, it is also used for capturing earth images, which is extensively utilized for disaster and traffic management, earth observation, and mapping constructional projects. As a result, it aids in offering global coverage, enhanced speed, reliability, and instant installation in a cost-efficient manner. Rapid urbanization and the increasing initiatives for smart cities development are continually offering lucrative opportunities for market growth.

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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Satellite Data Service Market Trends:

The global market is primarily driven by the rising demand for high-speed internet connectivity among the masses. This is supported by rapid digitization and the increasing adoption of smartphones among individuals. In line with this, the escalating need for reliable internet connection at affordable prices across geographically extended and rural locations is further propelling the market growth. Along with this, the widespread utilization of satellite data services for environmental monitoring and management due to the growing concerns about environmental degradation is providing a boost to the market growth. Moreover, the increasing adoption of the service solution for monitoring border areas and energy resources is positively influencing the market growth. Furthermore, the rising investments by private and public firms in infrastructural development projects across the globe is also favoring market growth. In addition to this, continual technological advancements across the space industry, such as the growing adoption of machine learning (ML), artificial intelligence (AI), and cloud computing, are also providing an impetus to 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, along with forecasts at the global, regional and country level from 2022-2027. 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

Market 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 with Key Player:

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.
Ursa Space Systems Inc.

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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

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