According to a new report Global Satellite Data Services Market, published by KBV research, The Global Satellite Data Services Market size is expected to reach $16.2 billion by 2026, rising at a market growth of 25% CAGR during the forecast period.
The defense & security segment is expected to be among the leading market segment the satellite data services industry. Due to extensive use of government satellite imagery for security & defense applications globally, such as maritime and land surveillance operations, critical infrastructure safety, criminal tracking, and airfield monitoring, this segment is expected to expand significantly during the forecast period.
The commercial sub-segment is anticipated to lead the end-use segment over the forecast period. The wide adoption of satellites imagery is expected to drive satellite data services in the commercial sector, for commercial applications such as oil and gas operations, monitoring of pipelines, precision monitoring and environmental monitoring among other applications.
On the basis of service, the Data Analytics segment is anticipated to expand during the forecast period at the CAGR. A large number of factors are expected to drive the demand for high-resolution color images for extraction of objects, the need for orthorectification services in various industries and the need for land cover and change detection technique in terms of data analysis as a service on the satellite data services market.
In North America, the satellite data services market is expected to grow significantly over the forecast period because of increased use of satellite images for energy & power, defense, and security, as well as extensive use of agricultural satellite imaging. In addition, in North America and in Asia Pacific, the market for satellite imagery is expected to rise exponentially over the forecast period.
Structural Insights: https://www.kbvresearch.com/satellite-data-services-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Airbus SE (Airbus Defence and Space SE), Maxar Technologies, Inc. (DigitalGlobe, Inc.), Trimble, Inc., L3Harris Technologies, Inc., ImageSat International N.V., Planet Labs, Inc., Spaceflight Industries, Inc. (BlackSky Global LLC), Ursa Space Systems, Inc., SpecTIR, LLC, and Satellite Imaging Corporation.
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