Press release
Global Satellite Communication Market, Industry Growth, Trends, Insights 2024
Satellite Communication Market Growth
Ready to Dive into Something Exciting? Get Your Free Exclusive Sample of Our Research Report @
https://www.thebusinessresearchcompany.com/sample.aspx?id=7096&type=smp
According to The Business Research Company's, The satellite communication market size has grown strongly in recent years. It will grow from $58.13 billion in 2023 to $63.42 billion in 2024 at a compound annual growth rate (CAGR) of 9.1%. The growth in the historic period can be attributed to emerging markets growth, increasing investments in satellites and launch of advanced low earth orbit satellites.
The satellite communication market size is expected to see strong growth in the next few years. It will grow to $92.28 billion in 2028 at a compound annual growth rate (CAGR) of 9.8%. The growth in the forecast period can be attributed to increasing investment in low earth orbit satellites, robust government support, growing demand for telecommunication, growing investments in the space sector and increasing number of satellite launches. Major trends in the forecast period include product innovations, technological advancements, focus on investing in very high throughput satellites (vhts), use of artificial intelligence in radio frequencies (rf) and focus on strategic partnerships and collaborations.
Get The Complete Scope Of The Report @
https://www.thebusinessresearchcompany.com/report/satellite-communication-global-market-report
Market Drivers and Trends:
The increasing adoption of low-earth orbit satellites in various sectors will drive the satellite communication market in the forecast period. Low-earth orbit (LEO) satellites are said to be the technology to revolutionize the internet and digital communication. For instance, in June 2022, the US Space Force's Commercial Satellite Communications Office (CSCO) stated that it plans to award nearly $2.3 billion in commercial satcom contracts over the next two years. CSCO buys commercial satcom capacity and services for the US armed forces and allies. The largest of the commercial opportunities is an $875 million multiple-award deal for low earth orbit satellite broadband services over 10 years. Therefore, investment in low earth orbit satellites is expected to propel the satellite communication market growth.
Product innovations are a key trend gaining popularity in the satellite communications market. Major companies operating in the satellite communication market are introducing innovative products to grow in the market. For instance, in January 2023, China launched a new telecommunications satellite, the APSTAR-6E, using a Long March-2C carrier rocket from the Xichang Satellite Launch Center. The satellite will be used to supply high-throughput communication services across Southeast Asia.
Key Benefits for Stakeholders:
• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
Major Key Players of the Market:
TeamViewer SE, GoTo, Microsoft Corporation, BeyondTrust Corporation, AnyDesk Software GmbH, Zoho Corporation Pvt Ltd, Splashtop Inc, ConnectWise LLC, ISL Online, SolarWinds, AweRay, AeroAdmin, VMware, RealVNC Limited, TSplus, Pulseway, Noventiq, NinjaOne, Arista Networks, RemotePC, LogMein Inc, Securden, Nutanix Inc, IBM Corporation, Atera, Nadeer, TruGrid.
Satellite Communication Market 2024 Key Insights:
• The satellite communication market size is expected to see strong growth in the next few years. It will grow to $92.28 billion in 2028 at a compound annual growth rate (CAGR) of 9.8%.
• Rising Adoption Of Low Earth Orbit Satellites Propels Growth In Satellite Communication Market
• Satellite Communication Market Driven By Innovative Product Launches And Technological Advancements
• North America was the largest region in the satellite communication market in 2023
We Offer Customized Report, Click @
https://www.thebusinessresearchcompany.com/Customise?id=7096&type=smp
Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: mailto:info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
Learn More About The Business Research Company
The Business Research Company ( https://www.thebusinessresearchcompany.com ) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Global Satellite Communication Market, Industry Growth, Trends, Insights 2024 here
News-ID: 3777503 • Views: …
More Releases from The Business research company
Increasing Demand For Wearable Devices Fueling The Growth Of The Market Due To R …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
Stretchable And Conformal Electronics Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
The market for stretchable and conformal electronics has seen swift expansion in the last few years. The market, which is projected to increase from a value of $2.59 billion in 2024 to $2.99…
2025-2034 Space-Based Network Market Evolution: Disruptions, Innovations, and Un …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
How Large Will the Space-Based Network Market Size By 2025?
In the past few years, the market size for the space-based network has seen significant growth, and it is projected to increase from $8.40 billion in 2024 to $10.33 billion in 2025. This implies a compound annual growth rate…
Space Debris Removal Satellite Electronics Market Poised to Hit $2.73 Billion by …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Space Debris Removal Satellite Electronics Market Through 2025?
The market for satellite electronics involved in space debris removal has experienced swift expansion in the past few years. The market is projected to broaden from $1.22 billion in 2024 to $1.44 billion in…
Top Market Shifts Transforming the Software-Defined Satellite Market Landscape: …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
Software-Defined Satellite Market Size Growth Forecast: What to Expect by 2025?
There has been a rapid expansion in the market size of software-defined satellites in recent times. Projections indicate an increase from $3.09 billion in 2024 to $3.52 billion in 2025, equating to a compound annual growth rate (CAGR)…
More Releases for Satellite
Military Satellite Market Size, Military Satellite Market Forecast, Military Sat …
According to The Insight Partners, "Military Satellite Market" report 2028, discusses various factors driving or restraining the market, which will help the future market to grow with promising CAGR. The Military Satellite Market Research Reports offers an extensive collection of reports on different markets covering crucial details. The report studies the competitive environment of the Military Satellite Market is based on company profiles and their efforts on increasing product value…
Satellite Transponders Market to Witness Huge Growth by 2026| APT Satellite Comp …
Latest released the research study on Global Satellite Transponders Market, offers a detailed overview of the factors influencing the global business scope. Satellite Transponders Market research report shows the latest market insights, current situation analysis with upcoming trends and breakdown of the products and services. The report provides key statistics on the market status, size, share, growth factors of the Satellite Transponders.
The study covers emerging player's data, including: competitive…
Satellite Transponders Leasing Market Is Booming Worldwide | SingTel Optus, MEAS …
HTF MI recently introduced Global Satellite Transponders Leasing Market study with in-depth overview, describing about the Product / Industry Scope and elaborates market outlook and status to 2023. The market Study is segmented by key regions which is accelerating the marketization. At present, the market is developing its presence and some of the key players from the complete study are Intelsat, SES, Eutelsat, SingTel Optus, MEASAT satellite systems, Asia Broadcast…
Satellite Transponders Leasing Market 2019: Comprehensive Study by Key Players I …
The growing demand for C band and Ku band transponder by the commercial sector across the globe to spur the satellite transponders leasing market in the coming years. Along with the digitization of the broadcasting industry and emergence of enhanced TV media, such as HD and UHD TV the number of subscribers for advanced media broadcasting have increased. Also, the rising demand for OTT and demand based supply of channels…
Satellite Market by Type (Large Satellite, Mini Satellite, Micro Satellite, and …
The global satellite market is driven by increase in demand for direct to home (DTH) television, high definition TV conversion, and intercontinental transmission in developed economies. In addition, continuous growth of video diffusion and internet access, increase in demand for digital TV and growth in communication and broadcasting market fuels the market growth. However, technology risk, spectrum access risk, and increase in competition from fiber optical cable limit the market…
Satellite Market by Type (Large Satellite, Mini Satellite, Micro Satellite, and …
The global satellite market is segmented on the basis of type, end user, and application. Type segment covered in this study include large satellite, mini satellite, micro satellite, and nano satellite. Based on end user, the market is categorized into commercial, civil, government, and others. On the basis of application, the market is divided into scientific research, technology demonstration and verification, earth observation and remote sensing, scientific research, communication, and…
