Satellite Communication Market Outlook
According to the report by Expert Market Research (EMR), The Global Satellite Communication Market Size, Trends, Analysis, Report and Forecast 2024-2032″, reached a value of USD 50.7 billion in 2023. Aided by the escalating demand for reliable communication networks and the diversifying applications of satellite communication across multiple sectors, the market is projected to further grow at a CAGR of 10.40% between 2024 and 2032 to reach a value of USD 91.8 billion by 2032.
Satellite communication is a form of wireless communication that utilises artificial satellites as relay stations to send and receive signals for multimedia communication. This technology is widely used in various applications, including television broadcasting, weather forecasting, navigation, and internet services, thus propelling the satellite communication market growth. Its significance lies in its ability to ensure robust, secure, and high-speed communication, especially in remote and inaccessible areas, thus enabling global connectivity.
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The rising demand for consistent and robust communication networks is fuelling the global satellite communication market growth. With the ever-increasing need for reliable connectivity for various applications ranging from multimedia broadcasting to navigation and military operations, there has been a marked increase in demand for satellite communication. Moreover, the ongoing global trend towards digitalization has further intensified this demand, as businesses and individuals seek more robust and reliable connectivity.
The expanding use-cases of satellite communication across various sectors also significantly contribute to the satellite communication market demand. For instance, in the telecommunications sector, it is crucial for ensuring reliable and high-speed internet access, especially in remote and under-served areas. In the broadcasting industry, satellite communication is indispensable for direct-to-home (DTH) television services. Meanwhile, the military sector relies heavily on satellite communication for secure and real-time communication, navigation, and surveillance.
Furthermore, the growing focus on space exploration and the increasing number of private companies entering the space industry have resulted in a greater emphasis on satellite communication. The rise of companies like SpaceX, Blue Origin, and others has ignited a new era in space exploration, leading to an increase in the deployment of satellites for communication purposes. This, in turn, is significantly booting the satellite communication market expansion.
Satellite Communication Market Segmentation
The market can be divided based on type, end use, distribution channel, and region.
Market Breakup by Type
- Equipment
- Transmitter/Transponder
- Antenna
- Transceiver
- Receiver
- Modem/Router
- Others
- Service
Market Breakup by End Use
- Maritime
- Defence and Government
- Enterprises
- Media and Entertainment
- Mining and Oil and Gas
- Agriculture
- Transportation
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Satellite Communication Market Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global satellite communication companies. Some of the major key players explored in the report by Expert Market Research are as follows:
- Thales Group
- Iridium Communications Inc.
- SES S.A.
- Thuraya Telecommunications Company
- Cobham Limited
- Viasat, Inc.
- Orbcomm Inc.
- L3Harris Technologies Inc.
- ST Engineering iDirect
- Inmarsat Global Limited
- Gilat Satellite Networks Ltd.
- Others
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