Satellite and Telecommunication Resellers Market Trends 2024

"The Business Research Company recently released a comprehensive report on the Global Satellite & Telecommunication Resellers Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The satellite & telecommunication resellers market size has grown strongly in recent years. It will grow from $324.09 billion in 2023 to $341.22 billion in 2024 at a compound annual growth rate (CAGR) of 5.3%. The growth in the historic period can be attributed to growing global connectivity, increasing data consumption, emerging markets, government initiatives and policies, space exploration.

The satellite & telecommunication resellers market size is expected to see strong growth in the next few years. It will grow to $432.54 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%. The growth in the forecast period can be attributed to expansion of low earth orbit (leo) constellations, 5g integration, cybersecurity focus, globalization of markets. Major trends in the forecast period include rise of low earth orbit (leo) constellations, satellite internet services, iot and m2m connectivity, diversification of service offerings.

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Market Drivers and Trends:

Governments around the world are increasingly investing in developing smart cities. The European Union is actively promoting smart city initiatives, with funds for research and sustainability targets for member states. The concept of smart cities is also rising in developing nations. In China and India alone, almost 300 smart city pilots are currently planned. These projects will require state-of-the-art telecoms networks. This will act as a major driver of the growth of the satellite and telecommunication resellers market going forward.

Major companies operating in the satellite and telecommunications resellers market are focused on developing satellite-based solutions capable of supporting two-way messaging to gain a competitive edge in the market. A satellite-based solution capable of supporting two-way messaging refers to a technology that allows for communication in both directions, enabling data transmission from a sender to a receiver and vice versa via satellite connections. For instance, in January 2023, Qualcomm Incorporated, a US-based provider of semiconductors, software, and services related to wireless technology, launched Snapdragon Satellite, the world's first satellite-based two-way capable messaging solution for premium smartphones. Snapdragon Satellite uses the Iridium network, which is a network of low-Earth orbital satellites with 66 satellites traveling at 17,000 mph across the sky. Snapdragon Satellite boasts pole-to-pole coverage, which means it can cover almost the entire globe.

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Major Key Players of the Market:

Tata Consultancy Services Limited, Nippon Telegraph and Telephone Corporation, Telefonaktiebolaget LM Ericsson, Cisco Systems Inc., Infosys Limited, SES SA, Intelsat SA, Hughes Network Systems LLC, Eutelsat SA, Arqiva Limited, Telesat Canada, Speedcast International Limited, Telespazio SpA, Encompass Digital Media Inc., Hispasat SA, Globecast SA, Liquid Intelligent Technologies Limited, Russian Satellite Communications Company, Telstra Group Limited, Measat Global Berhad, Thaicom Public Company Limited, Emirates Integrated Telecommunications Company PJSC, Gazprom Space Systems Joint Stock Company, Viasat Inc., Cobham Limited, Gilat Satellite Networks Ltd., Inmarsat Global Limited, Iridium Communications Inc., Globalstar Inc., Thuraya Telecommunications Company.

Satellite & Telecommunication Resellers Market 2024 Key Insights:

• The satellite & telecommunication resellers market size is expected to see strong growth in the next few years. It will grow to $432.54 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%.
• Smart City Initiatives Driving Growth In The Satellite And Telecommunication Resellers Market
• Increasing Focus On Introducing Satellite-Based Solutions Capable Of Supporting Two-Way Messaging To Gain A Competitive Edge
• Western Europe was the largest region in satellite & telecommunication resellers market in 2023

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