Optical Satellite Communication Market is expected to expand at a CAGR of 31.5% to 2027

Strides in optical satellite communication technologies endow an array of benefits to users in wireless networks, including access to gigabit capacity backhaul links. The drive for M2M communication and Internet of Things (IoT) has opened new avenues in the optical satellite communication technology.

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The revenues of global optical satellite communication market stood at US$ 297.2 million in 2017 and are expected to touch worth of US$ 4,238.7 million in 2027. This represents robust CAGR of 31.5% from 2019 to 2027 during the forecast period.

Advantages over conventional RF technologies will drive the demand for optical satellite communication in deploying 5G networks and next-gen backhaul capacity networks for various wireless application. Among the various applications, the backhaul segment is expected to expand at the leading CAGR during the period.

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Key Findings of Optical Satellite Communication Market Report

Among the various components, the transmitter segment led the market; it is anticipated to retain its lead throughout the forecast period. Focus on satellite-to-ground applications fuel the revenue potential from the segment. Backhaul segment is expected to rise at the most attractive CAGR during 2019 - 2027.

Of the various applications, surveillance and security hold the major share in optical satellite communication market; it is expected to retain its lead. Among the various regions, Asia Pacific is anticipated to expand at the leading CAGR during 2019 - 2027; Initiatives by governments to bolster wireless network capacity. North America expected to hold leading share in optical satellite communication market in 2017; major revenue generators are the U.S. and Canada

Optical Satellite Communication Market: Key Driving Factors and Promising Avenues

The opportunities in the optical satellite communication market have received a major impetus from the large-scale adoption of wireless networks in consumer and commercial markets.
Rise in numbers of smartphone users in various parts of the world is a key trend spurring investments in high-speed data transmission technologies.
According to an estimate, the number of worldwide smartphone users has crossed a mark of 2.7 billion in 2019. Sales of M2M communication devices in recent years in developing regions of the world have spurred opportunities for providers in the optical satellite communication market.
Rising research in high-end backhaul connections has boosted the development of reconfigurable broadband communication networks.
Deployment of next generation mobile network (5G) is on the cards for numerous economies who look to advance their internet and communication technologies. This has spurred investments by governments of numerous countries to collaboratively work toward satellite launching projects. A case in point is recent initiative by NASA.

Global Optical Satellite Communication Market: Regional Landscape

North America is expected to hold the leading position in optical satellite communication market. The regional market is expected to maintain its status quo in near future.

Meanwhile, Asia Pacific and Europe are proving to be substantially lucrative markets in recent years. Governments in these regions have upped their ante in optical communication projects, particularly for next generation (5G) network. Particularly, in recent years Asian countries have been forking money in space plans, expanding revenue potential in the regional market.

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The Optical Satellite Communication market can be segmented as follows:

By Component

Transmitter
Receiver
Modulator
Demodulator
Others

By Application

Backhaul
Surveillance and Security
Tracking and Monitoring
Earth Observation
Enterprise Connectivity
Last mile access
Research and Space Exploration
Telecommunication
Others

By Geography

North America
The U.S.
Canada
Rest of North America
Europe
The U.K
Germany
France
Spain
Rest of Europe
Asia Pacific (APAC)
India
China
Japan
Australia
Rest of Asia Pacific
Middle East & Africa (MEA)
GCC Countries
Rest of Middle East & Africa
South America
Brazil
Rest of South America

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