Press release
Satellite Data Services Market Outlook 2025-2034: Key Trends, Growth Drivers, and Market Share
Satellite Data Services Market Outlook
The satellite data services market is predicted to grow due to the escalating demand for satellite data in different sectors. Satellite data is primarily employed to guide missiles and conduct other military activities. It also offers information on shifts in the earth's surface and weather variations. As per NASA's Climate Change, a US governmental agency, in March 2023, an analysis of satellite data revealed an average global sea level rise of 0.27 centimeters in 2022. As a result, the expanding requirement for satellite data across various fields is fuelling the growth of the satellite data services market.
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What is the projected compound annual growth rate (CAGR) of the satellite data services market from 2025 to 2034, and what factors influence it?
In recent times, the satellite data services market size has experienced a rapid surge. It boasts a projection for an increase from $10.57 billion in 2024 to $12.45 billion in 2025, with the compound annual growth rate (CAGR) being 17.8%. The expansion observed in previous periods can be ascribed to factors such as amplified requirements for earth observation data, emergence of small scale satellite constellations, improved disaster response and management, escalating demand in precision farming, and the commercialization of space-related activities.
The market for satellite data services is projected to experience noteworthy growth in the forthcoming years, with the estimate of it escalating to a worth of $27.01 billion in 2029, registering a compound annual growth rate (CAGR) of 21.4%. The catalysts of this predicted growth during the forecast period are the escalating demand in the energy and power industries, the expansion in transportation and logistics industries, and the rising insurance sector. The period also sees trends like the heightened demand for geospatial analytics, emphasis on monitoring the climate and fostering environmental sustainability, assimilation with 5G networks, surging requirement for internet of things (IoT) connectivity, and progress in satellite imaging technologies.
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How are the latest trends influencing the growth of the satellite data services market?
The rise of innovative product developments is currently a prominent trend in the satellite data services market. To fortify their market standing, leading corporations in the sector are creating novel products. A case in point is the Chinese defense contractor, CASIC (China Aerospace Science and Industry Corporation), which was planning to put the first satellite into the very low Earth orbit (VLEO) constellation in March 2023. The constellation is expected to incorporate 300 communication and remote-sensing satellites that orbit the Earth, ensuring a global ultrafast response capability within a span of just 15 minutes.
What are the major segments of the satellite data services market and their role in driving growth?
The satellite data services market covered in this report is segmented -
1) By Type: Administrative, Commercial, Scientific
2) By Service: Data Analytics, Image Data, Other Services
3) By Application: Energy And Power, Defense And Intelligence, Engineering And Infrastructure, Transportation And Logistics, Agriculture, Other Applications
Subsegments:
1) By Administrative: Government Services, Defense And Intelligence, Disaster Management
2) By Commercial: Telecommunications, Media And Broadcasting, Agriculture And Forestry, Oil And Gas, Transportation And Logistics
3) By Scientific: Environmental Monitoring, Climate Research, Earth Science, Weather Forecasting
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Which regions are key players in the growth of the satellite data services market?
North America was the largest region in the satellite data services market in 2024. The regions covered in the satellite data services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the key firms paving the way for growth in the satellite data services market?
Major companies operating in the satellite data services market include Airbus S. A. S., East View Geospatial Inc., ImageSat International, L3Harris Technologies Inc., Maxar Technologies, Ceinsys Tech Ltd., Earth-i Ltd., ICEYE, Planet Labs Inc., Satellite Imaging Corporation, Space Exploration Technologies Corp., SpecTIR LLC, Trimble Inc., Ursa Space Systems Inc., Birdi Ltd., BlackSky Technology, Capella Space, Descartes Labs, DigitalGlobe, Geospatial Intelligence Pty Ltd., Gisat S. R. O., Harris Geospatial Solutions, HawkEye 360, OmniEarth Inc., Orbital Insight, SATPALDA Geospatial Services, SatSure AG, Spire Global Inc., Terrafuse, EUMETSAT
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What Is Covered In The Satellite Data Services Global Market Report?
•Market Size Forecast: Examine the satellite data services market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the satellite data services market for a structured understanding.
•Key Players Overview: Analyze major players in the satellite data services market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the satellite data services market.
•Segment Contributions: Evaluate how different segments drive overall growth in the satellite data services market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the satellite data services market.
•Industry Challenges: Identify potential risks and obstacles affecting the satellite data services market.
•Competitive Landscape: Review strategic developments in the satellite data services market, including expansions, agreements, and new product launches.
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