Press release
Connecting Beyond Horizons : Unraveling the $99.59 Billion Satellite Communication Market Forecasted for 2027 | Allied Market Research
Satellite Communication Market
๐๐จ๐ฐ๐ง๐ฅ๐จ๐๐ ๐๐๐ช๐ฎ๐๐ฌ๐ญ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ ๐๐ฌ - https://www.alliedmarketresearch.com/request-sample/10884
Europe, followed by Asia-Pacific and North America, garnered the major share in 2019-
By region, Europe, followed by Asia-pacific and North America, contributed to the major share in 2019, garnering around one-third of the global market, due to increase in adoption of the technology among industries such as civil and defense in the European region. At the same time, the market across Asia-Pacific would cite the fastest CAGR of 10.1% during the forecast period, due to increased investment in deploying satellite communication in countries such as China and India.
Drivers, restraints, and opportunities-
Development of Internet of Things (IoT) and autonomous systems, increase in demand for military and defense satellite communication solutions, and rise in adoption of SATCOM equipment in online streaming services, radio, and TV broadcast drive the growth of the global satellite communication market. On the other hand, cyber security threats to satellite communication and interference in satellite data transmission restrain the growth. Nevertheless, high-end technological advancements in satellite missions and deployment of 5G network through satellites are projected to pave the way for lucrative opportunities in the industry.
๐๐ซ๐จ๐๐ฎ๐ซ๐ ๐๐จ๐ฆ๐ฉ๐ฅ๐๐ญ๐ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐จ๐ฐ - https://www.alliedmarketresearch.com/communication-satellite-market/purchase-options
The broadcasting segment to dominate by 2027-
By application, the broadcasting segment contributed to more than two-fifths of the total market share in 2019, and is anticipated to lead the trail by 2027, due to rise in demand for direct-to-home satellite broadcasting services. However, the data communication segment would grow at the fastest CAGR of 10.7% from 2020 to 2027. This is because it is used for real-time data conveyance for applications such as meteorological, hydrological, and marine among others.
The services segment to maintain the dominant share-
By component, the services segment contributed to around two-thirds of the total market revenue in 2019, and is expected to dominate by 2027, due to rising need for high-speed and reliable internet connectivity. The equipment segment, on the other hand, would manifest the fastest CAGR of 9.9% from 2020 to 2027. The fact that advanced equipment are utilized in scientific research, earth observation, automotive, and telecommunication industries for efficient performance drives the growth of the segment.
๐ ๐ซ๐จ๐ง๐ญ๐ซ๐ฎ๐ง๐ง๐๐ซ๐ฌ ๐ข๐ง ๐ญ๐ก๐ ๐ข๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ฒ-
Cobham Ltd.
General Dynamics Corporation
Gilat Satellite Networks Ltd.
Al Yah Satellite Communication Company PJSC (Yahsat)
Inmarsat Global Limited
L3Harris Technologies, Inc.
SES S.A.
SKY Perfect JSAT Holdings Inc.
EchoStar Corporation
Telesat Canada
Viasat, Inc.
๐๐ง๐ญ๐๐ซ๐๐ฌ๐ญ๐๐ ๐ญ๐จ ๐๐ซ๐จ๐๐ฎ๐ซ๐ ๐ญ๐ก๐ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐๐ฉ๐จ๐ซ๐ญ? ๐๐ง๐ช๐ฎ๐ข๐ซ๐ ๐๐๐๐จ๐ซ๐ ๐๐ฎ๐ฒ๐ข๐ง๐ - https://www.alliedmarketresearch.com/purchase-enquiry/10884
๐๐๐๐๐-๐๐ ๐๐ฆ๐ฉ๐๐๐ญ ๐๐ง๐๐ฅ๐ฒ๐ฌ๐ข๐ฌ
The COVID impact on the satellite communication market is unpredictable and it is expected to remain in force till the second quarter of the 2021.
The COVID-19 outbreak forced the governments across the globe to implement strict lockdowns and made the social distancing mandatory to contain the spread of the virus. Consequently, several organizations started the work from home programs as safety measures. This led to sudden increase in demand for internet service, which further promotes rise in the demand for satellite communication across the world.
Moreover, the nationwide lockdown forced the satellite manufacturing facilities to partially or completely shut their operations.
The adverse impacts of the COVID-19 pandemic have resulted in the delays in the activities and initiatives regarding the development of innovative satellite communication solutions.
๐๐ข๐ฆ๐ข๐ฅ๐๐ซ ๐๐๐ฉ๐จ๐ซ๐ญ๐ฌ ๐๐ ๐๐๐ฏ๐ ๐จ๐ง ๐๐๐ญ๐๐ฅ๐ฅ๐ข๐ญ๐ ๐๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ฒ:
https://www.alliedmarketresearch.com/satellite-services-market - Satellite Services Market Size, Share, Competitive Landscape and Trend Analysis Report by Type (Consumer Services, Fixed Satellite Services, Mobile Satellite Services, Remote Sensing, and Space Flight Management Services) and End-User Industry (Media & Entertainment, Government, Aviation, Defense, Aerospace, Retail & Enterprise, and Others): Global Opportunity Analysis and Industry Forecast, 2019-2026
https://www.alliedmarketresearch.com/satellite-manufacturing-and-launch-systems-market-A11976 - Satellite Manufacturing and Launch Systems Market Size, Share, Competitive Landscape and Trend Analysis Report by Technology (Satellite Manufacturing, Satellite Launch Systems), by End User (Commercial, Military), by Application (Communication Satellite, Military Surveillance, Navigation Satellite, Earth Observation Satellite, Others) and by Satellite Type (LEO (Lower Earth Orbit) Satellites, MEO (Medium Earth Orbit) Satelites, GEO (Geosynchoronous Equatorial Orbit) Satellites): Global Opportunity Analysis and Industry Forecast, 2023-2032
https://www.alliedmarketresearch.com/satellite-image-data-services-market-A09064 - Satellite Image Data Services Market Size, Share, Competitive Landscape and Trend Analysis Report by Sensing Technique (Optical Imagery, Radar Imagery), by Industry (Energy and Power, Defense and Intelligence, Engineering and Infrastructure, Environmental and Agriculture, Transportation and Logistics, Others), by End-Use (Commercial, Government and Military): Global Opportunity Analysis and Industry Forecast, 2023-2032
https://www.alliedmarketresearch.com/satellite-data-services-market-A06428 - Satellite Data Services Market Size, Share, Competitive Landscape and Trend Analysis Report by Vertical (Energy & Power, Defense & Intelligence, Engineering & Infrastructure, Environmental, Agriculture, Maritime, Insurance and Transportation & Logistics), Service (Data Analytics and Image Data), End-Use (Commercial and Government & Military): Global Opportunity Analysis and Industry Forecast, 2021-2030
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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