Press release
Fixed Satellite Services Market Report 2024: Size, Share, Growth, Trends, Manufacturers, Forecast To 2033
Fixed Satellite Services Market Report
The Business Research Company offers in-depth market insights through Fixed Satellite Services Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The fixed satellite services market size has grown strongly in recent years. It will grow from $21.59 billion in 2023 to $22.96 billion in 2024 at a compound annual growth rate (CAGR) of 6.3%. The growth in the historic period can be attributed to growing demand for communication services, expansion of broadcasting services, geopolitical factors, increased demand for satellite backhaul, emergence of direct-to-home (dth) broadcasting.
The fixed satellite services market size is expected to see strong growth in the next few years. It will grow to $28.47 billion in 2028 at a compound annual growth rate (CAGR) of 5.5%. The growth in the forecast period can be attributed to increasing demand for high-throughput satellites (hts), expansion of satellite broadband services, rising demand for mobility solutions, growth in remote sensing applications, development of small satellite constellations, government investments in satellite infrastructure. Major trends in the forecast period include adoption of software-defined satellite technology, rise of satellite-as-a-service models, integration of artificial intelligence in satellite systems, focus on sustainable satellite manufacturing, emergence of high-frequency satellite bands.
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Market Segmentation:
The fixed satellite services market covered in this report is segmented -
1) By Service Type: Channel Broadcast, Wholesale, Audiovisual Contribution And Distribution, Broadband And Enterprise Network, Backhaul Services, Managed Services, Other Service Types
2) By Organization Size: Small Office And Home Office, Small And Medium Businesses, Large Enterprises
3) By Industry Vertical: Government, Education, Aerospace & Defense, Retail, Oil And Gas, Telecom And Information Technology, Media And Entertainment, Other Industry Verticals
Major Driver - The Soaring 5G Penetration Fuels Growth In The Fixed Satellite Services Market
The increasing penetration of 5G is expected to propel the growth of the fixed satellite services market going forward. 5G refers to a mobile network that is of the fifth generation. The rollout of 5G networks boosts demand for fixed satellite services by enabling faster and more dependable connectivity in urban and rural areas, driving up the need for backhaul solutions to connect 5G base stations with central networks, and encouraging the expansion of satellite-based broadband services to close the digital divide. For instance, in May 2023, according to Telefonaktiebolaget LM Ericsson, a Sweden-based telecommunications company, 5G mobile subscriptions increased from 0.54 billion in 2021 to 0.951 billion in 2022. Furthermore, it is expected that in 2028, 4.624 billion 5G mobile subscriptions will be in place, up from 1.481 billion in 2023. Therefore, the increasing 5G penetration drives the fixed satellite services market.
Competitive Landscape:
Major companies operating in the fixed satellite services market report are General Dynamics Corporation, Embratel, Cobham Limited, EchoStar Satellite Services LLC, Hughes Network Systems LLC, Singapore Telecommunications Limited, Intelsat S.A, SES SA, Inmarsat Global Limited, Eutelsat Communications S.A, Telesat Holdings Inc., Iridium Communications Inc., Telespazio S.p.A., Arqiva Ltd., Globecast, Hispasat SA, Globalstar Inc., Encompass Digital Media Inc., Arab Satellite Communications Organization, Thaicom Public Company Limited, Nigerian Communications Satellite Limited, ABS Global Ltd., Liquid Intelligent Technologies, Avanti Communications Group plc, Gazprom Space Systems, Russian Satellite Communications Company, MEASAT Global Bhd, Telstra Group Limited, Singapore Telecommunications Ltd. (Singtel), DU Emirates Integrated Telecommunications Corp.
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Top Trend - Strategic Partnerships Driving Growth In Fixed Satellite Services Market
Strategic partnerships are a key trend gaining popularity in the fixed satellite services market. Major companies operating in the fixed satellite services market are forming partnerships to develop a new relationship in which two or more organizations develop fixed satellite technological services. For instance, in February 2022, Intelsat S.A., a US-based provider of satellite services, partnered with Sky Perfect JSAT Corporation., a Japan-based broadcasting company, to expand high-throughput satellite capacity by utilizing its JCSAT-1C high-throughput satellites (HTS), which are part of the next-generation constellation, over the Asia region. The partnership is expected to increase revenue, expand the product portfolio, enter new markets, and strengthen the company's competitive position. Furthermore, in October 2021, the Arab Satellite Communications Organization, a Saudi Arabia-based satellite operator company, partnered with Hoshan Group, a Saudi Arabia-based automation company. This partnership aims to provide Saudi Arabian enterprise hosting and teleport uplink services. It will allow the two companies to offer a broader range of services to customers in the region, including high-speed broadband, television broadcasting, and government and defense communications.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Fixed Satellite Services Market Characteristics
3. Fixed Satellite Services Market Trends And Strategies
4. Fixed Satellite Services Market - Macro Economic Scenario
5. Fixed Satellite Services Market Size And Growth
…..
27. Fixed Satellite Services Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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