Sensors and Systems
Breaking News
Terra Drone Invests in Aloft Technologies to Enter U.S. Market, Boost Global UTM Development
Rating12345Terra Drone Corporation, a leading drone and Advanced Air...
LeddarTech Concludes Licensing Arrangement With Renesas
Rating12345QUEBEC CITY, Canada — LeddarTech Holdings Inc. (“LeddarTech”) (Nasdaq: LDTC),...
Hexagon partners with Nemetschek Group
Rating12345(Stockholm, Munich, 26 March 2024) Hexagon’s Geosystems division and...

July 19th, 2022
Satellite Data Services Market Projected to Reach $16.7 billion by 2026

  • Rating12345

Chicago – According to MarketsandMarkets™ research report “Satellite Data Services Market by Vertical (Energy & Power, Engineering & Infrastructure, Environmental & 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, at a CAGR of 23.0% from 2021 to 2026. Satellite data or satellite imagery is recognized as information about Earth and other planets in space, gathered by man-made satellites in their orbits.

Ask for PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=55690321

Satellite data or imagery is the information about the Earth and other planets in space, gathered by man-made satellites in their orbits. This report is mainly focused on satellite data services for Earth. Satellite data having a wealth of available authentic information about Earth’s surface, weather, and other incidents are created via remote sensing technologies.

Key players operating in satellite data services market are:

  • Maxar Technologies (US),
  • L3Harris Geospatial (US),
  • Airbus (Netherlands),
  • Planet Labs, Inc.(US)
  • Spire (US)

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

The US government invests in every part of the smallsat ecosystem and is likely to continue investing, both upstream and downstream, which would positively impact the satellite data services market. The more interesting development is in the increasing investments in smallsats by other governments around the world. The key stakeholders in the satellite data services market ecosystem are the Satellite Operators, Ground Station Operators, Data resellers, Value-Adding Service operators, GI Service operators, Consultancy firms, End Users, Integrated End Users, Geo-Information Products, and On-Line Services.

Browse in-depth TOC on “Satellite Data Market
258 – Tables
49 – Figures
287 – Pages

Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=55690321

“The data analytics segment of the satellite data services market, by service, is projected to have the highest growth from USD 4,320 million in 2021 to USD 11,297 million by 2026, at a CAGR of 22.2 % during the forecast period”

The data analytics segment is further sub segmented into image data processing, feature extraction, digital models, and classification. Processing higher-resolution imagery often generates considerable challenges for data analysis. The complication in turning raw remote sensing data into post-processing imagery (or significant insights) often has numerous requirements such as data science expertise, computer time required for processing, computing 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 imaging, and big data analytical software permits end users to witness industrial activity and environment in detail, which aids in making more informed business decisions. Demand for these services, namely image data processing, feature extraction, digital models, and classification, is expected to grow during the forecast period. A combination of them is required for developing GIS maps and analyzing 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 due to the maximum number of ongoing research studies and investments in this market, the existence of updated infrastructure to undertake space programs, and the most rapid and maximum adoption of commercial satellite imaging throughout various industries in the region. The US has many satellite operators providing satellite imagery and numerous companies offering data analytics. The defense sector relies heavily on satellite data for planning its operations. The US has been an innovator in data analytics, with many private players in the country catering to verticals such as energy & power, engineering & infrastructure, defense & security, maritime, and transportation & logistics.

Related Reports:

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

 

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge Store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Leave a Reply

Your email address will not be published. Required fields are marked *