Satellite Data Services Market Research Report: Information by Type (Image Data and Data Analytics), By Application (Energy & Power, Engineering & Infrastructure, Environmental Monitoring, Agriculture, Maritime, Transportation & Logistics and others) and Region (North America, Europe, Asia-Pacific and Rest of the World) - Forecast till 2025

Satellite Data Services Market Forecast

The Global Satellite Data Services Market is projected to be valued at USD 21.54 Billion by 2025, registering a CAGR of 19.4% from 2019 to 2025.

Factors such as the increasing number of private firms in the space industry and significant advancements in geospatial imagery analytics are driving the growth of the market. Furthermore, the increasing demand for small satellites for earth observation across the globe is projected to aid the growth of the market.

Satellite Data Services Market USP

Use of IoT in various industries necessitating satellite data services

Growth Opportunities in the Market

Image data segment accounted for the larger market share in 2018: The image data segment is also expected to exhibit higher CAGR during the forecast period. This growth can be attributed to the increasing use of satellite image data for monitoring crops, flooding, icebergs, and coastal traffic.

Environmental monitoring segment is expected to be the fastest-growing: The environmental monitoring segment is expected to exhibit the highest CAGR during the review period. The increasing use of satellite data for meteorology and the prevention of illegal fishing and tree felling is driving the growth of the segment.

Satellite Data Services Market Key Players

Airbus SE (Netherlands)

Blacksky (US)

Digitalglobe, Inc. (US)

Earth-I Ltd (UK)

Geospatial Intelligence Pty Ltd (Australia)

Gisat SRO (Czech Republic)

Harris Geospatial Solutions, Inc. (US)

Imagesat International (Israel)

Planet Labs, Inc. (US)

Trimble Inc. (US)

Regional Analysis

North America: North America accounted for nearly 34% of the global satellite data services market in 2018. It is projected to continue to dominate the market during the forecast period. In North America, increasing defense expenditure and the presence of prominent space organizations such as NASA are propelling market growth.

• US: The US is expected to register the higher growth rate during the forecast period. Factors such as the increasing use of satellites for mapping and monitoring of fire scars, weather, and sea surface temperatures and high investments in the development of advanced satellites are driving the growth of the market in the country.

Europe: In Europe, market growth is significantly driven by the UK, Russia, Germany, and France. Europe is one of the major regions for satellite data services due to frequent launches of advanced satellites.

• UK: The country-level market accounted for the dominant share of the market in Europe in 2018. The UK is one of the largest monetary contributors to the European Space Agency (ESA) and actively participates in new space missions.
• Germany: Germany being one of the four largest European Union (EU) member states is expected to be a lucrative market. Moreover, space agencies in German have launched several satellites for telecommunications, navigation, and earth observation, which is expected to drive the growth of the market during the review period.

Asia-Pacific: The market in Asia-Pacific is expected to register the highest CAGR during the review period. In Asia-Pacific, market growth is significantly driven by China, India, Japan, and South Korea.

• China: China is expected to be the dominant market during the forecast period and the country-level market is expected to register the highest growth rate during the forecast period. Moreover, the Chinese government owns and manages the second-largest fleet of satellites in orbit for remote sensing, navigation, communications, and surveillance. This is expected to drive the growth of the market in China.
• India: The Indian Space Research Organization (ISRO) and some private firms in India currently operate communications, earth observation, and navigational satellites. Moreover, ISRO is focusing on the development of advanced satellites.

Rest of The World: The market in the rest of the world includes the Middle East & Africa and Latin America. The market in the rest of the world is expected to be lucrative during the forecast period.

• Middle East & Africa: In the Middle East & Africa, market growth is significantly driven by Saudi Arabia, the UAE, and Israel. In Saudi Arabia, the increased adoption of Earth observation satellites is boosting market growth. For example, in 2016, the Government of Saudi Arabia collaborated with DigitalGlobe Inc., a vendor of space imagery and geospatial content, to build six small optical Earth observation satellites.

 

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