Satellite Data Services Market Report
Satellite Data Services Market by Services (Image Data, Data Analytics, and Others), Application (Scientific, Administrative, and Commercial), End-use (Aerospace & Defense, Energy & Power, Agriculture & Environment, Engineering & Infrastructure, Maritime, and Others), and Regional Analysis (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2021–2028
Global Satellite Data Services Market Analysis
The global satellite data services market is predicted to garner a revenue of $22,431.6 million in the 2021–2028 timeframe, growing from $8,357.9 million in 2020, at a healthy CAGR of 12.7%.
The growing demand for satellite imagery data among different sectors like agriculture, construction, mining, and others is anticipated to be a major driving factor for satellite data services market.
However, strict regulations related to satellite data services set by the government might restrain the market growth during the forecast period.
According to the regional analysis of the market, the Asia-Pacific satellite data services market forecast is anticipated to be at a CAGR of 13.5% by generating a revenue of $5,926.4 million during the review period.
Satellite Data Services Market Overview
Satellite data services collect the data about earth which is surrounded by manmade satellites in their orbits. Satellites capture the images of earth or the images of other planets and deliver information, respectively. These images shared by the satellites are used for different purposes like commercial, government, and others. Utilizing the imagery data shared by satellites for the commercial purposes is known as commercial satellite imaging which also includes different applications like environment monitoring & management, surveillance of border areas, security of energy resources, and mapping of constructional projects. Moreover, satellite data services are highly used in defense & security sector of a nation, urban planning, and others. The most common use of satellite data services is earth observation.
Covid-19 Impact on Satellite Data Services Market
In March 2020, the World Health Organization declared COVID-19 as a pandemic, which resulted in restrictions on travel and disturbance in financial markets, as well as negatively impacted supply chains and production levels. Like most of the industries, satellite data services market also had a negative impact owing to the COVID-19 pandemic. Moreover, due to the implementation of lockdown, various design, development, and manufacturing facilities with inadequate operational launch stations is restricting the market growth during pandemic. According to Daniel Kim, (managing director of Oversea Business for KTSAT), the satellite service operator is experiencing difficulties with the COVID-19 pandemic, as customers and partners have had delays in completing projects and making payments.
Increase in the Demand for Satellite Imagery Data is Anticipated to Drive the Satellite Data Services Market Growth
The increased need for satellite imaging in various industry verticals such as construction, oil & gas, agriculture, mining, and others is projected to help the market develop. The use of satellite imaging in the construction business 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. These factors are anticipated to drive the satellite data services market growth.
To know more about global satellite data services market trends, get in touch with our analysts here.
Government Limitations Related to Satellite Data Services Might Restrict the Market Growth
Government restrictions related to data collecting, location privacy, intellectual property rights, as well as the use and storage of geospatial data and information may hinder market expansion over the forecast timeframe. Furthermore, the high capital expenditure required in satellite-based data services due to niche and sophisticated technologies such as high-resolution remote sensing, powerful satellite analytics software, and others is expected to limit market expansion during the projection period.
Technological Advancements in Space Sector is Expected to Increase the Opportunities for Satellite Data Services Market
The increased use of artificial intelligence (AI) and machine learning (ML) in the space sector is expected to open up a slew of opportunities for service providers to deliver AI and ML-integrated solutions. AI-powered platforms are providing access to previously inaccessible aspects including social, industrial, and economic processes. Daily satellite imagery is rapidly being processed with machine learning 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 increase the satellite data services market opportunities during the forecast period.
To know more about global satellite data services market opportunities, get in touch with our analysts here.
Satellite Data Services Market
Source: Research Dive Analysis
The image data sub-segment is predicted to have a dominating market share in the global market and register a revenue of $11,126.4 million during the forecast period. The surge can be due to the emerging demand of imagery data in both public and private sectors. Image data is mostly used for remotely sensed imagery. Remote sensing is majorly used to obtain information for several applications including geological mapping, hydrocarbon exploration, mineral and water exploration, and natural hazards analysis. Moreover, one of the most powerful and crucial tools used by meteorologists is satellite imagery. These visualizations reassure forecasters about the behavior of the atmosphere because they show how events are happening in a simple, brief, and accurate manner.
Satellite Data Services Market
Source: Research Dive Analysis
The commercial sub-segment is anticipated to show fastest market growth during the forecast period. It is predicted that the market will generate a revenue of $7,587.5 million by 2028, growing from $3,035.7 million in 2020, with a CAGR of 13.2%. Satellite data is used in commercial sector for satellite television, navigation, and commercial satellite imagery. The increase in the demand of commercial imagery data is the main reason for commercial sub-segments fastest growth. Commercial satellites are used majorly in agriculture and farming companies to get rid of unnecessary events like cracks on the walls of dams, ground movements, and others. These factors are expected to increase the sub-segment’s growth during the forecast period.
Satellite Data Services Market
By End Use
Source: Research Dive Analysis
The aerospace & defense sub-segment is anticipated to have a dominating market share in the global market and register a revenue of $9,496.5 million during the analysis timeframe. The increase in the revenue of aerospace & defense sub-segment is majorly due to the demand for satellite data in defense sector. Satellite imagery data is used in aerospace & defense to check for illegal occurrences at the borders or inside a nation. Moreover, for the smooth functioning of aerospace & defense activities, satellites provide required information and prevents future harms.
Satellite Data Services Market
Source: Research Dive Analysis
The Market for Satellite Data Services in Asia-Pacific to be the Fastest Growing
Asia-Pacific was the fastest growing market during the forecast time period, and is estimated to reach $5,926.4 million by 2028, with a CAGR of 13.5%. The increasing population and economic development in countries like India, Japan, and China, have led to the high demand of satellite data services, especially in the commercial sector. This includes transportation, IT & telecommunication, automobile and others. Moreover, the growing advancements of military sector, especially in India and China is expected to increase the demand for satellite data.
Competitive Scenario in the Global Satellite Data Services Market
Product launches and mergers & acquisitions are common strategies followed by major market players.
Source: Research Dive Analysis
The satellite data services market share has been accounted by key players including 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.
Porter’s Five Forces Analysis for the Global Satellite Data Services Market:
- Bargaining Power of Suppliers: Satellite data services market contains moderate concentration of distributors & suppliers and therefore, the distributors & supplier control is predicted to be reasonable, resulting in moderate bargaining power of dealers.
Thus, the bargaining power of the suppliers is considered to be moderate.
- Bargaining Power of Buyers: Buyers might have average bargaining power, significantly because of adequate players functioning in the satellite data services market.
Therefore, the bargaining power of the buyer is moderate.
- Threat of New Entrants: Companies entering the satellite data services market are adopting technological innovations such as artificial intelligence and machine learning. Also, these companies are implementing various effective strategies such as offering discounts and value propositions. Yet, the investment cost is high.
Thus, the threat of the new entrants is moderate.
- Threat of Substitutes: There are fewer alternate products for satellite data services.
Thus, the threat of substitutes is moderate.
- Competitive Rivalry in the Market: Due to the fewer number of market players the competitive rivalry among satellite data services industry leaders is modest.
Therefore, competitive rivalry in the market is moderate.
Historical Market Estimations
Base Year for Market Estimation
Forecast Timeline for Market Projection
North America, Europe, Asia-Pacific, LAMEA
Segmentation by Services Type
Segmentation by Application
Segmentation by End-Use
Key Companies Profiled
Q1. What is the size of the global satellite data services market?
A. The size of the global satellite data services market was over $8,357.9 million in 2020 and is projected to reach $22,431.6 million by 2028.
Q2. Which are the major companies in the satellite data services market?
A. Airbus S.A.S., East View Geospatial Inc., and ImageSat International are some of the key players that account for the major global satellite data services market share. With the help of their proprietary commercial satellite constellation these companies are instrumental in offering sustainable satellite imagery and geospatial data solutions to its customers.
Q3. Which region, among others, possesses greater investment opportunities in the near future?
A. The Asia-Pacific region possesses great investment opportunities for investors to witness the most promising growth in the future.
Q4. What will be the growth rate of the Asia-Pacific satellite data services market?
A. Asia Pacific satellite data services market is anticipated to grow at 13.5% CAGR during the forecast period.
Q5. What are the strategies opted by the leading players in this market?
A. Technological development and strategic partnerships are the key strategies opted by the operating companies in this market.
Q6. Which companies are investing more on R&D practices?
A. Airbus S.A.S., Maxar Technologies, and Trimble Inc. are investing more on R&D activities for developing new products and technologies.
Q7. What is the satellite data used for?
A. Satellite data is primarily used to map and monitor the Earth's resources, ecosystems, and events more efficiently. The data can be used for a variety of administrative, scientific, and commercial purposes.
Q8. Why is satellite imagery used?
A. Satellite imagery is used to obtain information related to earth’s resources and environment. Satellite imagery provides base maps to assist planners and engineers, offers 3D GIS models for government decision making, defense and police operations, aids in extracting mineral deposits with the help of spectral analysis, and disaster mitigation, planning and recovery operations.
Q9. Which country has the largest number of satellites?
A. The United States has largest number of satellites amounting to 1,897.
Q10. How many satellites does USA have?
A. As of January 2021, the U.S. has around 1,897 artificial satellites orbiting the earth.
Q11. Which are the newly emerging techniques in the satellite data services?
A. Cloud computing for data storage and application of machine learning and artificial intelligence in data analysis are some of the emerging techniques used by satellite data service providers.
Q12. What is the future of satellite Internet?
A. The future of satellite internet includes connecting the globe seamlessly. Moreover, satellite internet is already widely used on trains and boats, planes, along with other forms of transportation. Furthermore, continuing enhancement of satellite internet capacity will positively impact the transportation industry and connectivity while shipping and travelling.
1.2.Real time insights and validation
1.4.Assumptions and forecast parameters
2.2.By type trends
2.3.By application type trends
2.4.By function type trends
2.5.By end-user trends
3.1.Market segmentation & definitions
3.2.1.Top investment pockets
3.2.2.Top winning strategies
3.3.Porter’s five forces analysis
3.3.1.Bargaining power of consumers
3.3.2.Bargaining power of suppliers
3.3.3.Threat of new entrants
3.3.4.Threat of substitutes
3.3.5.Competitive rivalry in the market
4.Satellite Data Services Market, by Service
4.1.1.Market size and forecast, by region, 2020-2028
4.1.2.Comparative market share analysis, 2020 & 2028
4.2.1.Market size and forecast, by region, 2020-2028
4.2.2.Comparative market share analysis, 2020 & 2028
4.3.1.Market size and forecast, by region, 2020-2028
4.3.2.Comparative market share analysis, 2020 & 2028
5.Satellite Data Services Market, by Application Type
5.1.1.Market size and forecast, by region, 2020-2028
5.1.2.Comparative market share analysis, 2020 & 2028
5.2.1.Market size and forecast, by region, 2020-2028
5.2.2.Comparative market share analysis, 2020 & 2028
5.3.1.Market size and forecast, by region, 2020-2028
5.3.2.Comparative market share analysis, 2020 & 2028
6.Satellite Data Services Market, by End Use
6.1.Aerospace & Defense
6.1.1.Market size and forecast, by region, 2020-2028
6.1.2.Comparative market share analysis, 2020 & 2028
6.2.Energy & Power
6.2.1.Market size and forecast, by region, 2020-2028
6.2.2.Comparative market share analysis, 2020 & 2028
6.3.Agriculture & Environment
6.3.1.Market size and forecast, by region, 2020-2028
6.3.2.Comparative market share analysis, 2020 & 2028
6.4.Engineering & Infrastructure
6.4.1.Market size and forecast, by region, 2020-2028
6.4.2.Comparative market share analysis, 2020 & 2028
6.5.1.Market size and forecast, by region, 2020-2028
6.5.2.Comparative market share analysis, 2020 & 2028
6.6.1.Market size and forecast, by region, 2020-2028
6.6.2.Comparative market share analysis, 2020 & 2028
7.Satellite Data Services Market, by Region
7.1.1.Market size and forecast, by service, 2020-2028
7.1.2.Market size and forecast, by application type, 2020-2028
7.1.3.Market size and forecast, by end use, 2020-2028
7.1.4.Market size and forecast, by country, 2020-2028
7.1.5.Comparative market share analysis, 2020 & 2028
22.214.171.124.Market size and forecast, by service, 2020-2028
126.96.36.199.Market size and forecast, by application type, 2020-2028
188.8.131.52.Market size and forecast, by end use, 2020-2028
184.108.40.206.Market size and forecast, by country, 2020-2028
220.127.116.11.Comparative market share analysis, 2020 & 2028
18.104.22.168.Market size and forecast, by service, 2020-2028
22.214.171.124.Market size and forecast, by application type, 2020-2028
126.96.36.199.Market size and forecast, by end use, 2020-2028
188.8.131.52.Market size and forecast, by country, 2020-2028
184.108.40.206.Comparative market share analysis, 2020 & 2028
7.2.1.Market size and forecast, by service, 2020-2028
7.2.2.Market size and forecast, by application type, 2020-2028
7.2.3.Market size and forecast, by end use, 2020-2028
7.2.4.Market size and forecast, by country, 2020-2028
7.2.5.Comparative market share analysis, 2020 & 2028
220.127.116.11.Market size and forecast, by service, 2020-2028
18.104.22.168.Market size and forecast, by application type, 2020-2028
22.214.171.124.Market size and forecast, by end use, 2020-2028
126.96.36.199.Market size and forecast, by country, 2020-2028
188.8.131.52.Comparative market share analysis, 2020 & 2028
184.108.40.206.Market size and forecast, by service, 2020-2028
220.127.116.11.Market size and forecast, by application type, 2020-2028
18.104.22.168.Market size and forecast, by end use, 2020-2028
22.214.171.124.Market size and forecast, by country, 2020-2028
126.96.36.199.Comparative market share analysis, 2020 & 2028
188.8.131.52.Market size and forecast, by service, 2020-2028
184.108.40.206.Market size and forecast, by application type, 2020-2028
220.127.116.11.Market size and forecast, by end use, 2020-2028
18.104.22.168.Market size and forecast, by country, 2020-2028
22.214.171.124.Comparative market share analysis, 2020 & 2028
7.2.9.Rest of Europe
126.96.36.199.Market size and forecast, by service, 2020-2028
188.8.131.52.Market size and forecast, by application type, 2020-2028
184.108.40.206.Market size and forecast, by end use, 2020-2028
220.127.116.11.Market size and forecast, by country, 2020-2028
18.104.22.168.Comparative market share analysis, 2020 & 2028
7.3.1.Market size and forecast, by service, 2020-2028
7.3.2.Market size and forecast, by application type, 2020-2028
7.3.3.Market size and forecast, by end use, 2020-2028
7.3.4.Market size and forecast, by country, 2020-2028
7.3.5.Comparative market share analysis, 2020 & 2028
22.214.171.124.Market size and forecast, by service, 2020-2028
126.96.36.199.Market size and forecast, by application type, 2020-2028
188.8.131.52.Market size and forecast, by end use, 2020-2028
184.108.40.206.Market size and forecast, by country, 2020-2028
220.127.116.11.Comparative market share analysis, 2020 & 2028
18.104.22.168.Market size and forecast, by service, 2020-2028
22.214.171.124.Market size and forecast, by application type, 2020-2028
126.96.36.199.Market size and forecast, by end use, 2020-2028
188.8.131.52.Market size and forecast, by country, 2020-2028
184.108.40.206.Comparative market share analysis, 2020 & 2028
220.127.116.11.Market size and forecast, by service, 2020-2028
18.104.22.168.Market size and forecast, by application type, 2020-2028
22.214.171.124.Market size and forecast, by end use, 2020-2028
126.96.36.199.Market size and forecast, by country, 2020-2028
188.8.131.52.Comparative market share analysis, 2020 & 2028
7.3.9.Rest of Asia Pacific
184.108.40.206.Market size and forecast, by service, 2020-2028
220.127.116.11.Market size and forecast, by application type, 2020-2028
18.104.22.168.Market size and forecast, by end use, 2020-2028
22.214.171.124.Market size and forecast, by country, 2020-2028
126.96.36.199.Comparative market share analysis, 2020 & 2028
7.4.1.Market size and forecast, by service, 2020-2028
7.4.2.Market size and forecast, by application type, 2020-2028
7.4.3.Market size and forecast, by end use, 2020-2028
7.4.4.Market size and forecast, by country, 2020-2028
7.4.5.Comparative market share analysis, 2020 & 2028
188.8.131.52.Market size and forecast, by service, 2020-2028
184.108.40.206.Market size and forecast, by application type, 2020-2028
220.127.116.11.Market size and forecast, by end use, 2020-2028
18.104.22.168.Market size and forecast, by country, 2020-2028
22.214.171.124.Comparative market share analysis, 2020 & 2028
126.96.36.199.Market size and forecast, by service, 2020-2028
188.8.131.52.Market size and forecast, by application type, 2020-2028
184.108.40.206.Market size and forecast, by end use, 2020-2028
220.127.116.11.Market size and forecast, by country, 2020-2028
18.104.22.168.Comparative market share analysis, 2020 & 2028
22.214.171.124.Market size and forecast, by service, 2020-2028
126.96.36.199.Market size and forecast, by application type, 2020-2028
188.8.131.52.Market size and forecast, by end use, 2020-2028
184.108.40.206.Market size and forecast, by country, 2020-2028
220.127.116.11.Comparative market share analysis, 2020 & 2028
7.4.9.Rest of LAMEA
18.104.22.168.Market size and forecast, by service, 2020-2028
22.214.171.124.Market size and forecast, by application type, 2020-2028
126.96.36.199.Market size and forecast, by end use, 2020-2028
188.8.131.52.Market size and forecast, by country, 2020-2028
184.108.40.206.Comparative market share analysis, 2020 & 2028
8.1.4.Recent strategic moves & developments
8.2.East View Geospatial Inc.
8.2.4.Recent strategic moves & developments
8.3.4.Recent strategic moves & developments
8.4.L3Harris Technologies, Inc.
8.4.4.Recent strategic moves & developments
8.5.4.Recent strategic moves & developments
8.6.AG Planet Labs Inc.
8.6.4.Recent strategic moves & developments
8.7.Satellite Imaging Corporation
8.7.4.Recent strategic moves & developments
8.8.4.Recent strategic moves & developments
8.9.4.Recent strategic moves & developments
8.10.Ursa Space Systems
8.10.4.Recent strategic moves & developments
The satellites that are orbiting the earth provide the necessary data in the form of images to the various organizations which then process this information and keep a track of things. These satellites are usually beneficial for the defence and security sector as it ensures privacy of data. The data provided a lot of times is also used for urban planning and more via data analytics.
COVID-19 Impact on the Global Satellite Data Services Market
The widespread effect of COVID-19 was felt across several industries and one among them was the satellite data services market. The lockdown caused multiple organizations associated with the satellites such as the development, manufacturing and design sectors to bring their normal function to a halt. To add further the lack of personnel that could assist in manning the launch stations was also a major factor responsible for the market being affected amidst the pandemic.
Key Developments in the Industry
Multiple organizations have been taking initiatives to establish themselves in the market while also taking part in research. The companies have also been using innovative methods to create high quality products to ensure customer satisfaction.
In July 2021, EarthDaily Analytics Corp (EDA), a Canada based expert in the field of data processing announced their decision to launch over nine satellites with a purpose to observe the earth. They are anticipated to be in operation by 2023 and upon launch into space, will form a Low-Earth Orbit (LEO) constellation. It will provide data to multiple sectors such as agriculture, financial services, environment, and the defence sector. The satellites are also expected to have a lifespan of over 10 years, hence possessing the ability to collect a vast amount of data int he duration.
Forecast Analysis of the Global Market
A recently published report by Research Dives states that the global satellite data services market is predicted to garner revenue of $22,431.6 million by 2028 rising from $8,357.9 million in 2020 at a steady CAGR of 12.7% from 2021-2028.
Satellite imaging has become a crucial element for several industries across the world as they provide an ariel view which can help them work on their plans. Industries such as mining and construction can use the satellite image data to form an idea about how they would like to go about the projects. It also helps professionals make a note of every minute detail of any area which can then be passed on to the engineers and planners for reference. These factors are expected to boost the growth of the market in the forecast period.
Many governments around the world have certain restrictions in place due to which individuals may not be able to procure access to the location due to privacy reasons which results in non-availability of data for that particular region. To add further, the satellites need constant upgrades not just in terms of external structure, but internal software as well. This requires a higher level of capital which can help in the implementation of advanced technologies such as remote sensing, satellite analytics and more into the satellites. These factors are anticipated to limit the growth of the market immensely in the analysis period.
Technology has made major progress over the years which has led to the application of new age tools such as artificial intelligence (AI) and machine learning (ML) into the space department. This initiative has ensured a rise in opportunities for the market owing to the AI and ML powered solutions. To add further, today satellite images also use machine learning algorithms to locate and determine the positions of certain objects or geographical locations. This can also help in keeping a track of changes within the area over certain time duration. These factors are expected to assist in providing opportunity of growth for the market in the estimated timeframe.
To add further, many experts and pioneers of the market have put in plenty of efforts to ensure that people find the emergency cylinders with ease. Some of them are
- 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.
- Ursa Space Systems Inc