Global Satellite Data Services Market Drivers, Constraints, Threats, Challenges & Opportunities During the Forecast Period, 2018-2027 - ResearchAndMarkets.com
DUBLIN — (BUSINESS WIRE) — January 17, 2020 — The "Satellite Data Services - Global Market Outlook (2018-2027)" report has been added to ResearchAndMarkets.com's offering.
The Global Satellite Data Services Market accounted for $6.29 billion in 2018 and is expected to reach $30.77 billion by 2027 growing at a CAGR of 19.3% during the forecast period.
Factors such as privatization of the space industry and significant advancements in emerging countries with the introduction of AI and Big Data are fuelling the market growth. However, lack of dedicated launch vehicles for Small Satellites is hampering the market.
Satellite data or satellite imagery is the process of collecting information about Earth, gathered by manmade satellites in their orbits. The most common use for satellite data is in Earth Observation (EO). Satellites deliver information about the surface and weather changes on the planet Earth. Satellite data services are majorly used in verticals such as agriculture, environmental, engineering & infrastructure, defence & security, energy & power, forestry, transportation & logistics, insurance, and maritime.
Amongst End User, the growth of the commercial segment is estimated to have a lucrative growth during the forecast period due to technological...