Satellite Data Services Market: Data Analytics Service to reach a CAGR of 21.7% from 2021 to 2027

Satellite Data Services Market to Reach $45.85 Billion by 2030, Defense & Intelligence Vertical to Grow at 25.7% CAGR; Data Analytics is used to rake in 23.7% CAGR.

PORTLAND, ORAGON, USA, September 20, 2022 /EINPresswire.com/ — According to the report published by Allied Market Research, the global market satellite data services market raised $5.52 billion in 2019 and is expected to reach $19.36 billion by 2027, growing at a CAGR of 19.1% from 2020 to 2027. The report offers in-depth analysis of drivers and opportunities, main investment pockets, key segments, Porter’s five forces, value chain and competitive scenario.

Rising demand from various industrial sectors, demand for earth observation satellites, and privatization of the space industry are driving the growth of the global satellite data services market. However, strict government regulation for the implementation of satellites and lack of dedicated launchers for small satellites are hampering the market growth. On the contrary, the increase in the adoption of artificial intelligence (AI), machine learning (ML) and cloud computing in the space sector, the increase in the use of satellite data for the development of smart cities and connected vehicles, and the rise of the NewSpace movement create new opportunities in the years to come.

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Covid-19 scenario:

The temporary lockdown has disrupted operations at various design, development and manufacturing facilities as well as launch stations. The disrupted supply chain has slowed the speed of new satellite launches.
Due to the economic turmoil, many customers and partners have delayed payments and extended deadlines for ongoing projects.
Many smartphone apps, software and tools have been developed to track patients infected with the coronavirus and monitor the spread of Covid-19 in specific regions and across the world. Based on the data, governments in many countries have made decisions about what to do to curb the spread.
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The report provides detailed segmentation of the global satellite data services market based on vertical, service, end-use, and region.

On the vertical basis, the environmental segment accounted for the highest market share, contributed more than a quarter of the total share in 2019, and will maintain its dominant share in terms of revenue during the forecast period. However, the defense and intelligence segment is expected to experience the highest CAGR of 20.1% from 2020 to 2027.

Based on service, the image data segment accounted for the highest market share in 2019, holding more than two-thirds of the global satellite data services market, and is expected to maintain its leading position over the course of the year. forecast period. However, the data analytics segment is expected to witness the highest CAGR of 21.7% from 2020 to 2027.

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Based on the region, North America is expected to show the fastest CAGR of 19.3% during the forecast period. Moreover, this region contributed the highest market share in 2019, accounting for almost three-fifths of the total market share, and will maintain its leading status by 2027. The report also discusses regions such as Asia-Pacific, Europe and LAMEA.

Key players of global satellite data services market analyzed in the research include Airbus SAS, ImageSat International, East View Geospatial Inc., Maxar Technologies, L3Harris Technologies, Inc., Satellite Imaging Corporation, Planet Labs Inc., Trimble Inc. , SpecTIR LLC. , and Ursa Space Systems Inc.

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Similar reports we have on the satellite/aerospace industry:

Satellite Data Analysis Services Market by service (data analytics and image data) and vertical (forestry, agriculture, environment, defense and security, environment, energy and power, maritime, engineering and infrastructure and others): analysis of global opportunities and industry forecasts , 2020-2030.

Satellite Image Data Services Market by service (data analytics and image data) and vertical (forestry, agriculture, environment, defense and security, environment, energy and power, maritime, engineering and infrastructure and others): analysis of global opportunities and industry forecasts , 2020-2030.

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Allied Market Research (AMR) is a full-service market research and business consulting division of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global corporations as well as small and medium enterprises with unrivaled quality of “market research reports” and “Business Intelligence solutions”. AMR has a focused vision to provide business insights and advice to help its clients make strategic business decisions and achieve sustainable growth in their respective market area.

Pawan Kumar, CEO of Allied Market Research, leads the organization in delivering high quality data and insights. We maintain professional relationships with various companies which helps us to extract market data which helps us to generate accurate research data tables and confirm the utmost accuracy of our market predictions. All data presented in the reports we publish are drawn from primary interviews with senior managers of large companies in the relevant field. Our secondary data sourcing methodology includes extensive online and offline research and discussions with knowledgeable industry professionals and analysts.

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Allied Analytics LLP
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