Artist Rendition for example purposes only.

Artist Rendition for example purposes only.

Data Control

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Projected Growth of Satellite Data Service Market

The satellite data services market size is projected to
grow from USD 7.5 billion in 2019 to USD 23.4 billion
by 2025, at a CAGR of 21.0% from 2019 to 2025. Some
of the factors that are expected to fuel the growth of
the market are significant advancements in geospatial
imagery analytics with the introduction of A1 and big
data, privatization of space industry, and growth of
cloud computing.

Based on the vertical, the environmental segment of
the satellite data services industry is projected to
grow at the highest CAGR from 2019 to 2025. Satellite
data or imagery is used in large turnkey projects to
analyze their expected impact on the environment,
boost their efficiency, and lessen their carbon footprint.

Hyperspectral satellite imagery incorporated
with field and laboratory data for analysis can be used
to derive more quantitative and precise soil properties
directly linked to soil degradation status, such as soil
chemical properties, organic matter, mineralogical
content, etc.

Based on the end-use, the commercial segment of the
satellite data services market is projected to grow at
the highest CAGR from 2019 to 2025. The extensive
use of satellite imagery for multi-scale geological
mapping, monitoring pipelines via satellite in near
real-time, track large project developments, shipping
routes, construction sites, the need for satellite data
services has increased over the years, and as
technology gets more advanced, autonomous drilling
and monitoring via satellite will play a key role in
commercial industries Based on service, the data analytics
segment of the satellite data services market is projected
to grow at the highest CAGR from 2019 to 2025.

The data analytics division is segmented further into image
data processing which includes pan-sharpening,
orthorectification, mosaicking, cloud patching, and
others. Demand for these services will grow during the
forecast period as a combination of them are required
as a prerequisite for developing GIS maps and
analyzing data presented in a satellite image.