Satellite Communication Market : Unlocking Economic Growth through Connectivity and Infrastructure 2020-2027

Allied Market Research published a report, titled, "Satellite Communication Market by Application (Voice Communication, Broadcasting, and Data Communication), Component (Equipment and Services), and End-Use Industry (Maritime, Aerospace & Defense, Industrial, Government, Transportation & Logistics, Media, and Others): Global Opportunity Analysis and Industry Forecast, 2020-2027." According to the report, the global satellite communication industry was pegged at $56.01 billion in 2019, and is expected to hit $99.58 billion by 2027, registering a CAGR of 9.2% from 2020 to 2027.

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.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐑𝐞𝐩𝐨𝐫𝐭 (319 𝐏𝐚𝐠𝐞𝐬 𝐏𝐃𝐅 𝐰𝐢𝐭𝐡 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬, 𝐂𝐡𝐚𝐫𝐭𝐬, 𝐓𝐚𝐛𝐥𝐞𝐬, 𝐅𝐢𝐠𝐮𝐫𝐞𝐬) 𝐚𝐭 https://www.alliedmarketresearch.com/request-sample/10884

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.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐟𝐨𝐫 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧 𝐚𝐭 https://www.alliedmarketresearch.com/request-for-customization/10884

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.

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.

𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐭𝐨 𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐭𝐡𝐞 𝐃𝐚𝐭𝐚? 𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐡𝐞𝐫𝐞 𝐚𝐭 https://www.alliedmarketresearch.com/purchase-enquiry/10884

Frontrunners in the industry-
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.

Key Findings Of The Study

By application, the data communication segment is anticipated to exhibit significant growth in the near future.
By component, the equipment segment is expected to register a significant growth during the forecast period.
By end-use industry, the aerospace and defense segment is projected to lead the global satellite communication market owing to higher CAGR as compared to other end-use industries.
By region, Asia-Pacific is anticipated to register the highest CAGR during the forecast period.

𝐊𝐧𝐨𝐰 𝐌𝐨𝐫𝐞 https://www.alliedmarketresearch.com/communication-satellite-market-A10519

𝐒𝐢𝐦𝐢𝐥𝐚𝐫 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐢𝐧 𝐂𝐨𝐧𝐬𝐮𝐦𝐞𝐫 𝐆𝐨𝐨𝐝𝐬 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲
𝐇𝐨𝐦𝐞 𝐖𝐚𝐭𝐞𝐫 𝐅𝐢𝐥𝐭𝐫𝐚𝐭𝐢𝐨𝐧 𝐔𝐧𝐢𝐭 𝐌𝐚𝐫𝐤𝐞𝐭 https://www.alliedmarketresearch.com/home-water-filtration-unit-market-A16886

𝐇𝐨𝐦𝐞 𝐑𝐞𝐡𝐚𝐛𝐢𝐥𝐢𝐭𝐚𝐭𝐢𝐨𝐧 𝐏𝐫𝐨𝐝𝐮𝐜𝐭𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 https://www.alliedmarketresearch.com/home-rehabilitation-products-market-A16857

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