Nowadays space is evolving as a new tech frontier. Because space is creating novel opportunities for both private and public sectors. Different sectors like transportation and satellite communication, data sharing, artificial intelligence, national security are now mostly dependent on the innovation of space.

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In past, access to space was only limited to the wealthiest world. But gradually the people observed the rapid commercialization of space. Now from the communication system to AI developmental things are highly dependent on artificial satellites in space.

Now many private companies started to launch and maintain infrastructure in space. It is thought the new market dynamics will create many consumer-focused space-oriented innovations like space hotels, space restaurants, galaxy parks, space amusement, or theme park.

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It is thought that the future of data and AI will be particularly based on space technologies. The commercial space industry may play an increasingly important role in the job market in near future.

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The major challenge the tech companies are facing while planning to succeed in the space is the market is very unpredictable. They also have to compete with larger companies. The new laws and regulations are also a challenge for tech companies that want to take part in the space market.