The satellite data services market will grow substantially to touch a market value of US$ 22 billion

WILMINGTON, Del. - Dec. 14, 2022 - PRLog -- Market Overview & Dynamics: Increasing demand for data analytics services like image processing, feature extraction, digital models, and classification is augmenting the global market growth

Global satellite data services are expected to grow at around 24% CAGR over the forecast period 2022-2028. Market growth has been fueled by the increasing use of satellite imagery for meteorologists to monitor climate changes and take corrective action. Satellite imagery can also be used to evaluate crop yields, crop health, and plant quality in great detail, which will act as the growth catalyst for the global satellite data services market.

Segmental Analysis

• Based on end use, the Aerospace & Defense sector holds a dominant share in the global satellite data services market whereas engineering & infrastructure holds a significant share in the global satellite data services market.

Competition Analysis: The emergence of AI and Machine Learning is creating opportunities for the satellite data services market to grow in the upcoming years

Due to the presence of many well-established companies in the global satellite data services market, there is intense competition in the global satellite data services market.  Rising demand for data analytics services such as image processing, feature extraction, digital models, and classification that are necessary to create GIS maps and evaluate the information contained in satellite images propel market growth. Additionally, image data is witnessing significant growth in the market.

• In July 2022, Trimble introduced the new Trimble X12 scanning system to its line of geospatial scanning products. The X12 combines the know-how of two industry leaders into a single solution by integrating.

Some of the prominent players that contribute significantly to the growth of the global satellite data services market include ImageStat International, Planet Labs Inc., Orbital Insight, Descartes Labs, Satellogic, Spire Global, Satellite Imaging Corporation, and others.

RationalStat has segmented the global satellite data services market on the basis of technology, application, end use, and region.

• By Technology
  • Optical Satellite Imaging
  • Synthetic-Aperture Radar (SAR) Imaging
• By Application
  • Commercial
  • Government & Military
• By End Use
  • Agriculture
  • Energy & Power
  • Aerospace & Defense
• By Region
  • North America
    • US
    • Canada
  • Latin America
    • Brazil
    • Mexico
    • Western Europe
  • • Germany
    • UK
    • France
  • Eastern Europe
    • Russia
    • Poland
    • Rest of Eastern Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
  • Middle East & Africa
    • GCC
    • South Africa

For more information about this report https://store.rationalstat.com/store/global-spending-analysis-satellite-data-services-market/

About RationalStat LLC

RationalStat is an end-to-end US-based market intelligence and consulting company that provides comprehensive market research reports along with customized strategy and consulting studies.  The company has sales offices in India, Mexico, and the US to support global and diversified businesses.