Satellite Data Analytics Services Market Big Changes to Have Big Impact

Satellite data service is the process of collecting information about the Earth, gathered by manmade satellites in their orbits. Satellites deliver information about surface and weather changes on the planet. Satellite data services deal with capturing images of Earth or other planets with the assistance of imaging satellites. Utilizing these images for commercial purposes is known as commercial satellite imaging, which includes various applications such as environment monitoring & management, security of energy resources, surveillance of border areas, and mapping of constructional projects. In addition, earth imagery is vital in various applications, including infrastructure planning & construction, exploitation of new energy sources, disaster management, green mapping, traffic management, and topographical mapping. The most common use for satellite data is in Earth Observation (EO). Moreover, satellite data is widely used in the development of smart cities and connected vehicles. Urban planners are using this data to understand settlement trends and ensure efficient infrastructure management.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 : https://www.alliedmarketresearch.com/request-sample/6793

Factors such as surge in demand for satellite data from various industry verticals, increase in demand for earth observation satellites, and privatization of the space industry are expected to drive the market growth. However, stringent government regulations for the implementation of satellites and a lack of dedicated launch vehicles for small satellites hinder the market growth. Further, increase in adoption of artificial intelligence (AI), machine learning (ML), and cloud computing in the space sector; rise in use of satellite data in the development of smart cities and connected vehicles, and rise in NewSpace movement are expected to offer lucrative opportunities for the market growth.

The market is segmented on the basis of vertical, service, end use, and region. On the basis of vertical, the market is divided into energy & power, defense & intelligence, engineering & infrastructure, environmental, agriculture, maritime, insurance, and transportation & logistics. By service, it is bifurcated into data analytics and image data. On the basis of end-use, it is categorized into commercial and government & military. Region wise, it is studied across North America, Europe, Asia-Pacific, and LAMEA.

𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰 : https://www.alliedmarketresearch.com/satellite-data-services-market/purchase-options

Airbus S.A.S., East View Geospatial Inc., ImageSat International, L3Harris Technologies, Inc., Maxar Technologies, Planet Labs Inc., Satellite Imaging Corporation, SpecTIR LLC, Trimble Inc. and Ursa Space Systems Inc are some of the leading key players operating in the satellite data services market.

𝐒𝐮𝐫𝐠𝐞 𝐢𝐧 𝐭𝐡𝐞 𝐝𝐞𝐦𝐚𝐧𝐝 𝐟𝐨𝐫 𝐬𝐚𝐭𝐞𝐥𝐥𝐢𝐭𝐞 𝐝𝐚𝐭𝐚 𝐟𝐫𝐨𝐦 𝐯𝐚𝐫𝐢𝐨𝐮𝐬 𝐢𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐯𝐞𝐫𝐭𝐢𝐜𝐚𝐥𝐬
Increased need for satellite data in various industry verticals such as construction, oil & gas, agriculture, mining, and others is projected to help the market develop. The use these of satellite data in such industry verticals provides a number of benefits. The building of infrastructure projects can become more detail oriented with the use of high-resolution satellite images, and the satellite data can give a graphical reference for planners and engineers, resulting in more accuracy in their construction. Similarly, satellite imaging could be used in the mining industry throughout the pre-feasibility and feasibility phases of mineral extraction to obtain data-based information about the mineral possibility of the area in question. Thus, satellite data services help to store all data and deliver the same to respective operators. Moreover, the rise in unpredictable atmospheric behavior, owing to the rise in global warming increases satellite data services demand in earth observation and disaster management departments. Furthermore, surge in adoption of satellite data for various mapping applications such as Google Earth and Bing Maps, Geographic Information Systems (GIS), oil & mineral exploration, and 3D city models boost the demand for satellite data services. In addition, growth in the use of satellite data for land mapping, disaster mitigation planning and recovery, autonomous vehicles, and maritime operation also propels the demand for data services. Therefore, an increase in demand for satellite data services from various industry verticals including agriculture, energy & power, engineering & infrastructure, environmental, and maritime drive the growth of the market. For instance, in September 2021, ConstellR and ScanWorld, two emerging satellite data providers, established a new collaboration to combine their Earth Observation expertise to deliver data-driven insights for agricultural and vegetation management.

𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 : https://www.alliedmarketresearch.com/purchase-enquiry/6793

Lack of dedicated launch vehicles for small satellites
Satellite data services are usually provided by the number of small satellites from space. These satellites have typically smaller budgets and development time scales. The lack of sufficient funding has also resulted in the closure of the few dedicated small launch vehicle operators. For instance, Vector, a small launch vehicle business, filed for Chapter 11 bankruptcy in December 2019. Thus, the absence of sufficiently inexpensive dedicated launch vehicles for the delivery of small satellites to orbit presents a significant barrier to the development of satellite data services. Although this issue of access-to-orbit would be addressed by secondary payload launch opportunities, where satellite operators can either share launch vehicle capacity through clustering or rideshare agreements. However, the cost of secondary payload opportunities is generally greater than the specific cost of the launch vehicle itself. Therefore, the lack of a dedicated launch vehicle for small satellites is anticipated to hinder the growth of the satellite data services market.

𝐈𝐧𝐜𝐫𝐞𝐚𝐬𝐞 𝐢𝐧 𝐚𝐝𝐨𝐩𝐭𝐢𝐨𝐧 𝐨𝐟 𝐚𝐫𝐭𝐢𝐟𝐢𝐜𝐢𝐚𝐥 𝐢𝐧𝐭𝐞𝐥𝐥𝐢𝐠𝐞𝐧𝐜𝐞 (𝐀𝐈), 𝐦𝐚𝐜𝐡𝐢𝐧𝐞 𝐥𝐞𝐚𝐫𝐧𝐢𝐧𝐠 (𝐌𝐋) 𝐚𝐧𝐝 𝐜𝐥𝐨𝐮𝐝 𝐜𝐨𝐦𝐩𝐮𝐭𝐢𝐧𝐠 𝐢𝐧 𝐭𝐡𝐞 𝐬𝐩𝐚𝐜𝐞 𝐬𝐞𝐜𝐭𝐨𝐫
Daily satellite imagery is rapidly being processed with machine learning (ML) algorithms to identify and detect objects, locate geographic and topographic characteristics, and track minute changes over time. Defense companies such as Lockheed Martin Corporation have developed the Global Automated Target Recognition System, which recognizes satellite pictures (GATR). These developments are likely to provide opportunities for the satellite data services market in near future. Moreover, ML and AI automated algorithms can accurately detect various things visible on earth from the space such as cars at parking lots, crop yield, and geo-sensing in agricultural fields. Furthermore, the amalgamation of cloud computing with satellite imagery enables researchers to access imagery data from remote locations. Cloud technology enables organizations to gain access to historic data, which may be used for analysis. AI and ML can be also used for satellite data-based aerial view monitoring and data analysis. Furthermore, increase in AI and ML based satellite data services by leading market players coupled with rise in intensity of related satellite launch also expected to offer market expansion. For instance, in September 2021, Ubotica Technologies announced that its CVAI Artificial Intelligence technology had been successfully launched into space aboard the PhiSat-1 satellite. To interpret Earth Observation data while in orbit, the Ubotica CVAI Artificial Intelligence (AI) system will use cutting-edge Deep Learning technology to make decisions aboard the PhiSat-1 satellite. Thus, the rise in the adoption of artificial intelligence (AI) and machine learning (ML) in the space sector has created numerous opportunities for the growth of the satellite data services market.

𝐂𝐨𝐯𝐢𝐝-𝟏𝟗 𝐒𝐜𝐞𝐧𝐚𝐫𝐢𝐨 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬
For most of the large space manufacturers, the COVID-19 pandemic has hampered mission deployments along with slowing down of new product deliveries due to disruption of the supply chain. Government contractors in Asia, Europe, and North America have been benefitted from significant administrative and financial support from space agencies through accelerated and advance payments. Although, during the COVID-19 crisis, the demand for crisis monitoring, evidence-based cases, and business intelligence increased significantly. In addition, the players in the satellite data services ecosystem actively contributed to the response efforts by providing storage and processing capabilities for modeling & other research needs and studying the impact of COVID-19. Moreover, companies are also providing earth observation imagery for industry intelligence and monitoring of remotely located infrastructure. The earth observation satellite fleet operating companies Maxar and Planet have witnessed increase in demand for the data they collect to help track global and regional trends in human and natural activity.

𝐊𝐞𝐲 𝐁𝐞𝐧𝐞𝐟𝐢𝐭𝐬 𝐅𝐨𝐫 𝐒𝐭𝐚𝐤𝐞𝐡𝐨𝐥𝐝𝐞𝐫𝐬
This study presents analytical depiction of the global satellite data services market analysis along with current trends and future estimations to depict imminent investment pockets.
The overall satellite data services market opportunity is determined by understanding profitable trends to gain a stronger foothold.
The report presents information related to the key drivers, restraints, and opportunities of the global satellite data services market with a detailed impact analysis.
The current satellite data services market is quantitatively analyzed from 2020 to 2030 to benchmark the financial competency.
Porter's five forces analysis illustrates the potency of the buyers and suppliers in the industry.

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