PUBLISHER: The Insight Partners | PRODUCT CODE: 1688903
PUBLISHER: The Insight Partners | PRODUCT CODE: 1688903
The satellite data services market size was valued at US$ 10.49 billion in 2024 and is expected to reach US$ 24.55 billion by 2031; it is estimated to record a CAGR of 16.2% from 2025 to 2031.
Private enterprises such as SpaceX, Blue Origin, Bigelow Aerospace, and OneWeb enter the space industry with innovations, low-cost solutions, and efficiency, creating healthy competition and opening up new growth opportunities for the market. Privatization in the space industry encourages well-established players such as Airbus SE; L3Harris Technologies, Inc.; and Planet Labs PBC to decrease the cost of satellite launches by utilizing reusable rocket technology and commercial collaborations, making space more accessible. This greater affordability allows public organizations, governments, and private businesses to install satellites for a variety of functions, including communication, Earth observation, and navigation. For instance, according to World Economic Forum data of February 2024, India has privatized space launches and plans to raise space launches by 2032, which is expected to reach US$ 47.3 billion. According to the same source, India accounts for approximately 2% of the space economy. Moreover, according to Dezan Shira & Associates Limited, in March 2024, India announced that it allows up to 100% foreign direct investment (FDI) in the space industry to promote satellite manufacturing and operation, satellite data products, and other segments. Increased FDIs and a supportive regulatory environment boost innovation, expand production capacity, and speed up the deployment of satellite technology. As demand for satellite data services rises, these legislative changes are expected to create opportunities for market growth, particularly in countries such as India, where the space sector is rapidly expanding. Additionally, the growing satellite usage creates a demand for high-quality and real-time satellite data in industries such as agriculture, environmental monitoring, disaster management, and telecommunications to increase operational efficiency and enhance decision-making. Thus, the growing privatization of the space industry and the increasing number of satellite startups are expected to create opportunities for the satellite data services market growth during the forecast period.
The image data segment is divided into spatial, spectral, radiometric, and temporal. The spectral segment held the significant satellite data services market share. Spectral is a range of electromagnetic wavelengths such as visible light, infrared, and other wavelengths captured by satellites. Spectral resolution includes the number of bands and the wavelength width of each band recorded by a sensor. Each band corresponds to a certain region of the electromagnetic spectrum for each particular sensor. Multispectral sensors and hyper-spectral sensors capture spectral resolutions. Multispectral sensors, such as those on Quickbird and SPOT satellites, can measure four bands: visible blue, green, and red, as well as near-infrared (NIR), whereas Landsat and Aster may monitor seven or more bands. Hyperspectral sensors detect energy across a greater number of narrower bands compared to multispectral sensors. Hyperspectral sensors' narrow bands are more sensitive to fluctuations in reflected and emitted energy, making them better suited to detect tiny differences (e.g., crop stress, plant community, etc.) than multispectral sensors. Multispectral and hyperspectral photos are frequently used together to provide a more comprehensive picture of ground conditions. The adoption of multispectral sensors is highly growing among industries owing to the demand for comprehensive and accurate pictures.
Airbus SE; Maxar Technologies Holdings Inc; L3Harris Technologies Inc; ICEYE Oy; Imagesat International (I.S.I) Ltd.; LAND INFO Worldwide Mapping, LLC; Planet Labs PBC; Satellite Imaging Corp; SATPALDA; Ursa Space Systems Inc; Earth-i Ltd; and Ceinsys Tech Ltd are among the key satellite data services market players that are profiled in this market study.
The overall satellite data services market size has been derived using both primary and secondary sources. Exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the satellite data services market size. The process also helps obtain an overview and forecast of the market with respect to all the market segments. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain analytical insights. This process includes industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the satellite data services market.