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Satellite Data Services Global Market Report 2022
Major players in the satellite data services market are Airbus S. A. S. , East View Geospatial Inc. , ImageSat International (ISI), L3Harris Technologies Inc. , Maxar Technologies, Planet Labs Inc. , Satellite Imaging Corporation, SpecTIR LLC, Trimble Inc.
New York, Sept. 08, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Satellite Data Services Global Market Report 2022" - https://www.reportlinker.com/p06318574/?utm_source=GNW
, Ursa Space Systems Inc., ICEYE, Space Exploration Technologies Corp., Ceinsys Tech Ltd., and Earth-i Ltd.
The global satellite data services market is expected to grow from $6.28 billion in 2021 to $7.95 billion in 2022 at a compound annual growth rate (CAGR) of 26.6%. The satellite data services market is expected to grow to $18.07 billion in 2026 at a CAGR of 22.8%.
The satellite data services market consists of sales of satellite data services by entities (organizations, sole traders, and partnerships) that enable efficient data monitoring and mapping and are also used in the development of smart cities and connected vehicles.Satellite data services are defined as the process of collecting information about the earth, which is gathered by manmade satellites in their orbits.
Satellites provide information about surface and weather changes on the planet. These services deal with capturing images of the Earth or other planets with the assistance of imaging satellites.
The main types of satellite data services are administrative, commercial, and scientific.The administrative satellite data services enable efficient mapping and monitoring of the earth’s resources, ecosystems, and events.
The various services include data analytics, image data, and others, which are used in numerous applications such as energy and power, defense and intelligence, engineering and infrastructure, agriculture, transportation and logistics, and others.
North America was the largest region in the satellite data services market in 2021. The regions covered in the satellite data services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The satellite data services market research report is one of a series of new reports that provides satellite data services market statistics, including satellite data services industry global market size, regional shares, competitors with a satellite data services market share, detailed satellite data services market segments, market trends and opportunities, and any further data you may need to thrive in the satellite data services industry. This satellite data services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future state of the industry.
The increasing need for satellite data in various industries is expected to propel the growth of the satellite data services market going forward.The most common use of satellite data is to guide missiles and other military activities.
Satellite data services also provide information about changes in the earth’s surface and weather. For instance, in May 2021, United Launch Alliance (ULA), a US-based rocket manufacturer, launched the fifth Space-Based Infrared System satellite for the U.S. space force. With the help of its onboard infrared sensors, the $1 billion satellite, built by Lockheed Martin, is designed to recognize and track plumes produced by missile launches throughout the world. Its abilities would allow the US to prepare for any imminent attacks. Therefore, the increasing need for satellite data in various industries is driving the growth of the satellite data services market.
New product advancements have emerged as a key trend gaining popularity in the satellite data services market.Major companies operating in satellite data services are developing new products to strengthen their position in the market.
For instance, in August 2019, Trimble Geospatial, a US-based company that provides solutions engineering and geographic information systems services, launched a new compact-sized tablet for geospatial field applications that offers Bluetooth and WI-FI technologies.The Trimble T7 tablet has been built for survey and geographic information system (GIS) data collection applications.
It is equipped with a tough 7-inch multi-touch screen, modular expansion capability, multiple connectivity options, and features a Windows 10 Professional operating system for optimal efficiency and productivity.The T7 streamlines the flow of geospatial data between the field and the office.
It is built for the next-generation tablet that connects to Trimble’s suite of survey instruments and global navigation satellite system.
In December 2021, Planet, a US-based provider of satellite imagery and geospatial solutions, acquired VanderSat for a deal amount of $28 million.This acquisition is expected to bring Planet a world-class remote-sensing data science team, top-tier accounts in the agriculture and insurance verticals, accelerate the software strategy, and expand their footprint in Europe.
VanderSat is a Netherlands-based provider of satellite-observed data, products, and services with a special emphasis on water and crops.
The countries covered in the satellite data services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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