Press release
With 18.3% CAGR, Satellite Data Service Market Size to Reach US$ 17.82 Billion 2022-2027
Satellite data service refers to the satellite systems that collect information regarding the Earth via manmade satellites in orbit. It delivers high-speed wireless bandwidth data connections from space. Satellite data service utilizes radio waves to transmit, receive, and retrieve data through communication networks. It enables businesses to carry voice, video, or other data services. Additionally, satellite data services also assist in providing reliable and dedicated services for various applications, such as email, file sharing, web hosting, data backup, video, etc. As a result, they are used across numerous sectors, including energy, agriculture, engineering, etc.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Satellite Data Service Market Trends and Drivers:
The rising usage of smartphones and the escalating demand for high-speed internet services are among the primary factors driving the satellite data service market. Moreover, the emerging trend of vlogging and the expanding travel and tourism sectors are inflating the need for satellite data services to obtain reliable internet coverage at affordable prices. Apart from this, the increasing concerns towards climatic changes, environmental degradation, and natural disasters are also augmenting the global market. Furthermore, owing to the growing geopolitical tensions between countries and the elevating national security concerns, several defense agencies are deploying commercial satellite imaging systems to procure information that strengthens security services and helps defense operations. This, in turn, is acting as another significant growth-inducing factor. Besides this, the integration of artificial intelligence (AI) and machine learning (ML) technologies with these satellite systems is anticipated to propel the satellite data service market in the coming years.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global satellite data service market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on service, application and vertical.
Breakup by Service:
Data Analytics
Image Data
Breakup by Application:
Scientific
Administrative
Commercial
Breakup by Vertical:
Defence and Security
Energy and Power
Agriculture
Environmental
Engineering and Infrastructure
Marine
Others
Market Breakup by Region:
North America (United States, Canada)
Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa
Competitive Landscape with Key Player:
Airbus SE
Ceinsys Tech Limited
Geospatial Intelligence Pyt Ltd.
Gisat S.R.O.
ICEYE
L3harris Technologies Inc.
Maxar Technologies Inc.
Planet Labs Inc.
Satellite Imaging Corporation
Telstra Corporation Limited,
Trimble Inc.
Ursa Space Systems Inc.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
If you want latest primary and secondary data (2022-2027) with Cost Module, Business Strategy, Distribution Channel, etc. Click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours of receiving full payment.
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