What is the market size of Satellite Data Services Market?

Satellite Data Services Market size was valued at USD 9.39 billion in 2023 and is poised to grow from USD 11.22 billion in 2024 to USD 39.06 billion by 2031, growing at a CAGR of 19.50% during the forecast period (2024-2031).

Who are the key vendors in the Satellite Data Services Market?

International organizations have begun working with governmental and non-governmental organizations to create satellites that provide ultra-high-resolution SAR imaging, which aids in improved decision making. By providing satellite imaging data, which is routinely recorded at a worldwide scale and gives photos at increasingly relevant resolutions, new competitors like Planet Labs, Inc. and UrtheCast are upending the market. 'DigitalGlobe (United States)', 'GeoOptics (United States)', 'Airbus Defence and Space (France)', 'GeoIQ (United States)', 'ImageSat International (Israel)', 'Planet Labs (United States)', 'BlackSky Global (United States)', 'UrtheCast (Canada)', 'Spire Global (United States)', 'Skybox Imaging (United States)', 'Deimos Imaging (Spain)', 'Earth-i (United Kingdom)', 'Satellogic (Argentina)', 'GHGSat (Canada)', 'Iceye (Finland)', 'Orbital Insight (United States)', 'Capella Space (United States)', 'Satellite Imaging Corporation (United States)', 'SpaceKnow (United States)', 'GomSpace (Denmark)', 'Scanex (Russia)', 'Twenty First Century Aerospace Technology (China)'.

Satellite Data Services Market Size

Satellite Data Services Market Insights

Satellite Data Services Market size was valued at USD 10.4 billion in 2023 and is poised to grow from USD 12.02 billion in 2024 to USD 38.34 billion by 2032, growing at a CAGR of 15.6% during the forecast period (2025-2032).

An artificial satellite service collects information about the Earth from these satellites. Satellites offer information about the planet's surface and weather patterns. Imaging satellites take pictures of Earth and other planets as part of satellite data services. These images are used for business purposes, or commercial satellite imaging. Commercial satellite imaging covers a wide range of uses, including environmental monitoring and management, the safeguarding of energy supplies, the surveillance of border areas, and the mapping of construction projects. Earth photography is essential for a wide range of tasks, including topographical mapping, disaster management, green mapping, traffic control, and infrastructure planning and development. It is projected that factors including the rise in earth observation satellite need, the privatisation of the space industry, and the surge in satellite data demand from various business verticals would all contribute to the market expansion. Government organisations in the area have worked hard to roll out new satellite and navigation systems, which has helped the satellite communications sector flourish even more. For instance, the U.S. Space Force published a list of future standards for commercial satellite communications in October 2022 to help interested suppliers prepare for potential solicitations in the fiscal year 2023. The 11 planned contracts for procurement, according to the service, are expected to endure for the ensuing 11 months. The five-year contract is worth between USD 620 million and USD 630 million, according to estimates. Nevertheless, the market's growth is constrained by stringent governmental regulations governing satellite installation and a lack of specialised launchers for small satellites. Additional factors that are anticipated to provide lucrative growth opportunities for the satellite data services market include an increase in the adoption of artificial intelligence (AI), machine learning (ML).

FAQs

Satellite Data Services Market size was valued at USD 8.65 Billion in 2023 and is poised to grow from USD 9.4 Billion in 2024 to USD 18.3 Billion by 2032, growing at a CAGR of 0.0868 during the forecast period (2025-2032).

International organizations have begun working with governmental and non-governmental organizations to create satellites that provide ultra-high-resolution SAR imaging, which aids in improved decision making. By providing satellite imaging data, which is routinely recorded at a worldwide scale and gives photos at increasingly relevant resolutions, new competitors like Planet Labs, Inc. and UrtheCast are upending the market. 'Airbus (France) ', 'Maxar Technologies (US) ', 'L3Harris Technologies, Inc. (US) ', 'Planet Labs, PBC (US) ', 'ICEYE (Finland) ', 'Ursa Space Systems, Inc (US) ', 'Satpalda (India) ', 'Earth-i Ltd. (UK) ', 'ImageSat International (ISI) (Israel) ', 'Ceinsys Tech Ltd. (India) ', 'East View Geospatial, Inc (US) ', 'Trimble Inc. (US) ', 'Spectir (US) ', 'GISAT S.R.O. (Czech Republic) ', 'PlanetObserver (France) ', 'BlackSky (US) ', 'ESRI (US) ', 'RMSI (India) ', 'Orbital Insight (US) ', 'Spire Global (US) ', 'Birdi Ltd. (US) ', 'Descartes Labs, Inc (US) ', 'Satelytics (US) ', 'Apollo Mapping (US) ', 'Pixxel Mapping (India) ', 'HERE Technologies (Netherlands) '

The demand for satellite data services is driven by the growing need for Earth observation and remote sensing applications. Satellite imagery and data provide valuable insights into various aspects such as environmental monitoring, agriculture, urban planning, disaster management, and natural resource exploration. Governments, research institutions, and industries rely on satellite data to make informed decisions and monitor changes in the Earth's surface.

Earth observation constellations comprise a network of satellites working together to capture comprehensive and frequent imagery of the Earth's surface. Companies are deploying constellations of satellites to provide near-real-time and high-resolution data for various applications. The trend towards Earth observation constellations enables enhanced coverage, improved revisit times, and enables faster data acquisition for satellite data services.

With the highest market share and a CAGR of 19.6%, North America will continue to dominate the industry. The deployment of commercial satellites, which is expected to spur future expansion in satellite data services, is being made possible thanks to significant investments from a number of regional governments. North America is predicted to have the highest and earliest adoption of commercial satellite imaging across a wide range of businesses, as well as sophisticated space project infrastructure. Furthermore, the North American sector has a sizable window of opportunity due to increased concerns about satellite-based surveillance.