With 20.9% CAGR, Global Satellite Data Services Market Size & Share Estimated to Grow Over USD 20.73 Billion By 2028

The global satellite data services market size is expected to reach USD 20.73 billion by 2028 according to a new study by Polaris Market Research.

Key factors esteeming the industry growth include the rise in trend and implementation of satellite data services across numerous industry verticals along with the ever-increasing rate of miniaturization of sensors and increased private investment in the development of new space startups.

In June 2021, OneWeb, a UK company, has uncashed funding of USD 500 million from Bharti Global. The deal defines that Bharti will now have a 39% share, thereby making it the largest shareholder in such a product provider. In addition, the surge in focus towards the demand for earth observation satellites and increasing advancements in geospatial imagery analytics are the few other integral factors accelerating the satellite statistics services industry growth during the forecasting years.

(The sample of this report is readily available on request. The report sample contains a brief introduction to the research report, Table of Contents, Graphical introduction of regional analysis, Top players in the market with their revenue analysis, and our research methodology.)

However, strict government regulations for the adoption of the product and a dearth of committed launch vehicles for small satellites are expected to hamper the industry growth. Apart from this, the rise in the proliferation of machine learning and artificial intelligence technologies is spacer sector further paving the industry growth.

Based on application, the commercial data service segment accounted for the fastest CAGR in the global industry, owing to the wide-ranging usage of satellite imagery for multi-scale geological mapping. Whereas the administrative product data services segment contributes the maximum stake in the overall market. Factors such as integrating big data analytics with imagery allow organizations to rapidly map urban development, which may contribute significantly to segment growth.

See also  Lactase Market Size Forecast to Reach USD 289.1 Million by 2028: Polaris Market Research

Request for Discount on this Report Before Purchase @ https://www.polarismarketresearch.com/industry-analysis/satellite-data-services-market/request-for-discount-pricing

Top Market Players

Market participants include Birdi Ltd, Airbus S.A.S, Ceinsys Tech Ltd., BlackSky, Earth-i Ltd., DigitalGlobe, Geospatial Intelligence Pty Ltd., EAST VIEW GEOSPATIAL, INC., Harris Geospatial Solutions, Inc., Gisat S.R.O., ICEYE, LAND INFO Worldwide Mapping, LLC, ISI, Trimble Inc., Planet Labs, Inc., Planetobserver, SPECTIR, Satpalda Geospatial Services, and Ursa Space Systems, Inc. are some of the key players operating in the global market.

Several manufacturers are often backing to opt for varied marketing strategies to expand their business operations. In July 2021, Glasgow-based communications startup R3-IoT bags funding of USD 4.3 million (£3.1m), intending to expand its technology with end-to-end data services.

Browse detail report with in-depth TOC @ https://www.polarismarketresearch.com/industry-analysis/satellite-data-services-market

Polaris Market Research has segmented the satellite data services market report on the basis of application, industry vertical, and region:

Satellite Data Services, Application Outlook (Revenue-USD Million, 2016 – 2028)

  • Scientific
  • Administrative
  • Commercial

Satellite Data Services, Industry Vertical Outlook (Revenue – USD Million, 2016 – 2028)

  • Défense & Security
  • Energy & Power
  • Agriculture
  • Environmental
  • Engineering & Infrastructure
  • Marine
  • Others

About Us:
Polaris Market Research is a worldwide market research and consulting organization. We give unmatched nature of offering to our customers present all around the globe across industry verticals. Polaris Market Research has expertise in giving deep-dive market insight along with market intelligence to our customers spread crosswise over various undertakings. We at Polaris are obliged to serve our different client base present over the enterprises of medicinal services, healthcare, innovation, next-gen technologies, semi-conductors, chemicals, automotive, and aerospace & defense, among different ventures present globally.