Satellite data services market expected to reach $16.7

Chicago, July 14 2022 (GLOBE NEWSWIRE) — According to MarketsandMarkets™ research report “Satellite Data Services Market by Vertical (Energy & Power, Engineering & Infrastructure, Environment & Weather, Agriculture, Transportation & Logistics, Insurance), Service (Image Data, Data Analytics), End Use, Region – Global Forecast to 2026″The Satellite Data Services Market is valued at USD 5.9 Billion in 2021 and is projected to reach USD 16.7 Billion by 2026, growing at a CAGR of 23.0% from 2021 to 2026. Satellite Data or Imagery satellite are recognized as information about the Earth and other planets. in space, collected by artificial satellites in their orbits.

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Satellite data or images are information about the Earth and other planets in space, collected by artificial satellites in their orbits. This report is primarily focused on satellite data services for Earth. Satellite data containing a wealth of authentic information available on the Earth’s surface, weather and other incidents is created through remote sensing technologies.

The major players operating in the satellite data services market are:

  • Maxar Technologies (USA),
  • L3Harris Geospatial (USA),
  • Airbus (Netherlands),
  • Planet Labs, Inc. (USA)
  • Speyer (USA)

North America is expected to be the fastest growing satellite data services market from 2022 to 2027.

The US government is investing in every part of the small satellite ecosystem and is likely to continue to invest, both upstream and downstream, which would have a positive impact on the satellite data services market. The most interesting development is the increasing investment in small satellites by other governments around the world. The major stakeholders in the satellite data services market ecosystem are Satellite Operators, Ground Station Operators, Data Resellers, Value Added Service Operators, IG Service Operators, Consulting Firms Consulting, End Users, Embedded End Users, Geographic Information Products and On-Line Services.

Browse the in-depth table of contents at “Satellite data market
258 – Tables
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“The Data Analytics segment of the Satellite Data Services Market, by Service, is expected to experience the highest growth from USD 4,320 Million in 2021 to USD 11,297 Million by 2026, with a CAGR of 22.2% over the forecast period”

The data analysis segment is further sub-segmented into image data processing, feature extraction, digital models, and classification. Processing higher resolution images often creates considerable challenges for data analysis. The complication of transforming raw remote sensing data into post-processing images (or important information) often has many requirements such as data science expertise, computer time required for processing, computer processing power and the required budget. The mutual synergy of developments in satellite imagery resolution, facial recognition technology (and other image recognition software), real-time imagery and big data analysis software enables end users to witness industrial activity and the environment in detail, which helps to do more informed business. the decisions. The demand for these services, namely image data processing, feature extraction, numerical models, and classification, is expected to increase during the forecast period. A combination of them is needed to develop GIS maps and analyze data presented in a satellite image.

“North America is estimated to account for the largest share of 45% of the satellite data services market in 2020”

North America is estimated to account for 45% of the satellite data services market in 2021. North America is expected to dominate the market studied during the forecast period owing to the maximum number of research studies and ongoing investments in this market, the existence of updated infrastructure to undertake space programs, and the fastest and maximum adoption of commercial satellite imagery in various industries in the region. The United States has many satellite operators providing satellite imagery and many companies offering data analysis. The defense sector relies heavily on satellite data to plan its operations. The United States has been an innovator in data analytics, with many private players in the country dealing in vertical sectors such as energy and power, engineering and infrastructure, defense and security, maritime, transport and logistics.

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Weather Forecasting Systems Market by Industry (Agriculture, Aviation, Transportation & Logistics, Oil & Gas, Marine, Renewable Energy, Meteorology, Weather Service Providers), Application, Solution, Forecast Type and Region (2021-2026)

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