The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

As per The Business Research Company’s Satellite Data Services Global Market Report 2024, the satellite data services market is expected to show significant growth in the forecast period.

A Booming Industry

• The satellite data services market has surged from $9.07 billion in 2023 to $10.8 billion in 2024.
• Compound annual growth rate (CAGR) stands impressively at 19.0%.
• Growth attributed to increased demand for earth observation data, emergence of small satellite constellations, enhanced disaster response and management, and more.

Charting the Path Forward

• Expected to reach $22.08 billion in 2028 with a CAGR of 19.6%.
• Growth driven by increasing demand from energy and power sectors, growing transportation and logistics, and the expanding insurance industry.
• Major trends include demand for geospatial analytics, climate monitoring, integration with 5G networks, and advancements in satellite imaging technologies.

Growing Demand For Enhanced Security And Defense Capabilities Drives The Market

Utility Across Industries

• Satellite data crucial in various industries including defense.
• Satellite services aid in missile guidance, weather tracking, and more.
• Notable launch by United Launch Alliance for U.S. Space Force in May 2021.

Key Players

• Airbus S.A.S.
• East View Geospatial Inc.
• L3Harris Technologies Inc.
• Maxar Technologies
• And many more leading the charge.

New Product Advancements Transform The Market

Innovative Solutions

• Companies focus on new product advancements.
• Chinese defense contractor CASIC gearing up for VLEO constellation launch.
• Planet’s acquisition of VanderSat to bolster remote-sensing capabilities.

Market Segmentation

1. By Type: Administrative, Commercial, Scientific
2. By Service: Data Analytics, Image Data, Other Services
3. By Application: Energy and Power, Defense and Intelligence, Engineering and Infrastructure, Transportation and Logistics, Agriculture, Other Applications

North America Takes the Lead

• North America led the satellite data services market in 2023.

View More On The Satellite Data Services Market Report 2024 –
https://www.thebusinessresearchcompany.com/report/satellite-data-services-global-market-report

Request A Sample Of The Global Satellite Data Services Market Report 2024:
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The Satellite Data Services Global Market Report 2024  provides an in-depth analysis on the satellite data services market size, trends and drivers, opportunities, strategies, and companies analysis. The countries covered in the satellite data services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

View More Related Reports –

Satellite Internet Global Market Report 2024

Satellite Antenna Global Market Report 2024

Satellite Communication Global Market Report 2024

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