Satellite Communication Services Market To Grow At A CAGR Of 9.5% From 2022 To 2027

Satellite Communication Services Market Analysis (2023 - 2030)

The size of the world market for satellite communication services was estimated at USD 71.6 billion in 2021, and it is anticipated to increase at a CAGR of 9.5% from 2022 to 2027.

The market is expanding as a result of the rising demand for mobile satellite services and small satellites for earth observation services in the energy, oil & gas, defense, and agricultural sectors. Satellite communication refers to the use of an artificial satellite in a network as part of the current communication infrastructure (Satcom). The market is anticipated to develop as a result of this.

Due to the disruption in the supply chain of crucial raw materials, COVID-19's quick expansion had a substantial effect on the global satellite communication services sector in 2020. The COVID-19 epidemic caused the satellite industry to face many difficulties, including decreased output, material shortages, logistical difficulties, and others. One of the businesses that were most badly impacted by the pandemic and initially saw a reduction in investments was maritime, aviation, and communication. Although there are still numerous obstacles to overcome, the coronavirus has accelerated several promising market developments. For instance, many nations, including China, have deployed the use of satellite communication services to connect a database of local geographic information with COVID-19 infected individuals to identify the demographics of COVID-19 vulnerable and highly contagious locations.

Flexible, secure, and dependable communications networks are essential for military and defence units around the world to share information for crucial tasks. To create mission-specific satellite communication (SATCOM) solutions, military and defence users collaborate with private businesses. For instance, the Thales Alenia Space was chosen by the French defence procurement agency (DGA) in February 2021 to build the Syracuse IV satellite communications system for the French armed forces. Syracuse IV will be a very durable SATCOM system with the ability to function in situations with intense competition. Additionally, military and defence forces all over the world are modernising their current infrastructure to improve their effectiveness in conflict and defence.

The growth of the satellite communication industry has been spurred by the creation of new applications. There are many applications, including voice communication systems, audio broadcast media, broadcasting, such as Direct to Home (D2T), web technologies, such as data transmission, GPS applications, and internet browsing, military surveillance and navigation, remote sensor applications, and monitoring and forecasting of weather conditions. During the projected period, these applications will propel the worldwide satellite communication market.

Key Market Insights:

• The Satcom transmitter/transponder, modem/router, antenna, transceiver, receiver, and other categories are further broken down into the component section. With a CAGR of 11.3% over the projected period, the Satcom transceiver is predicted to experience the quickest growth of these. The market for Satcom transceivers has expanded as a result of the rising demand for transcontinental coverage across networks.
• In 2021, the market was dominated by the media & broadcasting category, which had a revenue share of over 14.8%. The category has grown as a result of factors like the extensive use of satellites for broadcasting and continuous remote coverage. Government (civil usage), emergency responders, and defence are further divided into the government & defence divisions. With a market share of 41.9% in 2021, the defence segment led all others in the government & defence sector.
• The segment with the highest revenue share in 2021—more than 22%—was broadcasting. Over the projection period, it is anticipated to expand at a noticeable CAGR of more than 10%. The growth of the broadcasting industry has been impacted by the rise in demand for satellite communications for pay-TV and radio applications. Satcoms can provide flawless connectivity in remote and distant locations, but the rising popularity of over-the-top (OTT) services may limit the market's expansion over the coming years.
• With approximately 32.0% of global sales, North America dominated the market in 2021. This can be explained by the growing demand for constant communication among the military and the defence sector, which prompted the U.S. defence department to widely implement satellite communication technology. Additionally, the market expansion is supported by other satellite communication service providers like Telesat, Viasat, Inc., and EchoStar Corporation. Additionally, during the next several years, it is predicted that the regional market would grow significantly as a result of the improvement of military communication infrastructure.
• Because of the modernisation of its infrastructure and the increase in travellers engaging in marine and coastal tourism, Europe is estimated to grow at the second-fastest rate. The demand for Low Earth Orbit (LEO) satellites to provide backhaul networks for remote or inaccessible locations has increased as a result of the expansion of 5G installations across the nation. LEO spacecraft offer lower latency in Satcom in addition to the technological advancements in geostationary (GEO) satellites that enable high throughput and improved durability.

Market Segmentation:

By Application

• • Asset Tracking/Monitoring
  • Airtime
    • M2M
    • Voice
    • Data
  • Drones Connectivity
  • Data Backup And Recovery
  • Navigation And Monitoring
  • Tele-medicine
  • Broadcasting
  • Others

By Vertical

• • Energy & Utility
  • Government & Defense
    • Government (Civil Uses)
    • Emergency Responders
    • Defence
  • Transport & Cargo
    • Fleet Management
    • Rail services
  • Maritime
  • Mining And Oil & Gas
    • Oil & Gas
    • Mining
  • Agriculture
  • Communication Companies
  • Corporates/Enterprises
  • Media & Broadcasting
  • Others

By Region

• North America
• Europe
• Asia-Pacific
• Rest of the World

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