This document summarizes new frontiers in astronomy with the use of space telescopes like Hubble and beyond. It discusses the growth of data collection over the past 25 years through improved detectors and instruments. Various space telescopes that collect data across the electromagnetic spectrum are highlighted. Challenges of large astronomical surveys producing terabytes and petabytes of multi-wavelength data over time are discussed. Standards for data formats, coordinate systems, protocols and virtual observatory initiatives are outlined to help address these challenges.