Dublin, Aug. 16, 2023 (GLOBE NEWSWIRE) -- The "Satellite Communication (SATCOM) Market Size, Share & Trends Analysis Report By Component (Equipment, Services), By Application (Broadcasting, Airtime), By Vertical, By Region, And Segment Forecasts, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.
The global satellite communication market is poised for substantial growth, with a projected size of USD 159.60 billion by 2030, expanding at an impressive compound annual growth rate (CAGR) of 9.7% during the period from 2023 to 2030
The driving force behind this expansion is the remarkable surge in demand for satellite broadband services, particularly in remote and underserved areas. This growing demand for connectivity solutions is proving to be a significant factor fueling the market's advancement.
Satellite communication, also known as SATCOM, plays a pivotal role in bridging the connectivity gap, offering businesses, governments, and communities access to high-speed internet, voice services, and multimedia applications. As this trend gains momentum, it unveils substantial opportunities for satellite communication providers to extend their services to a broader customer base and extend their market footprint.
The growing integration of satellite communication with emerging technologies such as 5G networks and IoT is also contributing to the growth of the market. The convergence of these technologies opens up new avenues for advanced applications, smart city initiatives, and transformative connectivity solutions. Satellite communication acts as a critical enabler, providing wide-area coverage, and connecting remote and challenging environments.
Several satellite communication solution providers are striking partnerships with other satellite communication solution providers to develop advanced systems aimed at delivering better connectivity for end-users. For instance, in November 2022, Viasat, Inc. announced a strategic collaboration with Cobham SATCOM to develop an advanced satellite connectivity system for the energy and maritime industries. The connectivity system was carefully developed to leverage the substantial satellite capacity anticipated from the ViaSat-3 constellation. It incorporated a range of innovative antenna systems from Cobham Satcom, aiming to provide cutting-edge, high-speed connectivity.
The COVID-19 pandemic has moderately impacted the satellite communication industry, leading to significant changes and advancements in the industry. One of the key effects of the pandemic has been the widespread adoption of remote work and telecommuting, which highlighted the importance of reliable and resilient connectivity. Satellite communication played a crucial role in ensuring uninterrupted communication and data transmission for remote workers, enabling them to stay connected regardless of their location.
Satellite Communication Market Report Highlights
- The services segment dominated the market in 2022 owing to the worldwide expansion of the media and entertainment sectors and the rising popularity of satellite television in emerging economies
- The broadcasting segment dominated the market in 2022. The increasing need for satellite communication in applications such as pay TV and radio has driven the growth of the broadcasting segment
- The government & defense segment is projected to grow at the highest CAGR over the forecast period. The growth of this segment is being fueled by a growing focus on secure and resilient satellite communication solutions, which are essential to meet the evolving requirements of government agencies and defense organizations
- North America dominated the market in 2022 owing to the increasing demand for satellite broadband services, particularly in remote and inaccessible areas
Competitive Landscape
- Company Categorization
- Participant's Overview
- Financial Performance
- Product Benchmarking
- Company Market Positioning
- Company Market Share Analysis, 2022
- Company Heat Map Analysis
- Strategy Mapping
- Partnerships, agreements & collaborations
- New Service launches
- Acquisitions
Company Profiles
- Viasat, Inc.
- SES S.A.
- Intelsat
- Telesat
- EchoStar Corporation
- L3Harris Technologies, Inc.
- Thuraya Telecommunications Company
- SKY Perfect JSAT Group
- Gilat Satellite Networks.
- Cobham Limited
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 100 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $77.08 billion |
| Forecasted Market Value (USD) by 2030 | $159.6 billion |
| Compound Annual Growth Rate | 9.7% |
| Regions Covered | Global |
Key Topics Covered:
Chapter 1 Methodology and Scope
Chapter 2 Executive Summary
2.1 Market Snapshot
2.2 Segment Snapshot
2.3 Competitive Landscape Snapshot
Chapter 3 Satellite Communication Market Variables and Trends
3.1 Market Lineage Outlook
3.2 Industry Value Chain Analysis
3.2.1 Satellite manufacturers and operators
3.2.2 Service providers & Technology Trends
3.3 Market Dynamics
3.3.1 Market Driver Impact Analysis
3.3.1.1 Increasing use of satellite communications in the government & defense sector
3.3.1.2 Growing use of satellite communication for mobility applications
3.3.2 Market Challenge Impact Analysis
3.3.2.1 Cybersecurity concerns
3.3.1 Market Opportunity Impact Analysis
3.3.1.1 Growing deployments of 5G services across the globe
3.4 Impact of the COVID-19 Pandemic
3.5 Industry Analysis Tools
3.5.1 Porter's Analysis
3.5.2 PESTEL analysis
Chapter 4 Satellite Communication Market: Component Estimates & Trend Analysis
4.1 Component Movement Analysis & Market Share, 2022 & 2030
4.2 Satellite Communication Market Estimates & Forecast, By Component
4.2.1 Equipment
4.2.1.1 SATCOM transmitter/transponder
4.2.1.2 SATCOM antenna
4.2.1.3 SATCOM transceiver
4.2.1.4 SATCOM receiver
4.2.1.5 SATCOM modem/router
4.2.1.6 OTHERS
4.2.2 Services
Chapter 5 Satellite Communication Market: Application Estimates & Trend Analysis
5.1 Application Movement Analysis & Market Share, 2022 & 2030
5.2 Satellite Communication Market Estimates & Forecast, By Application
5.2.1 Asset Tracking/Monitoring
5.2.2 Airtime
5.2.2.1 M2M
5.2.2.2 Voice
5.2.2.3 Data
5.2.3 Drones Connectivity
5.2.4 Data Backup and Recovery
5.2.5 Navigation and Monitoring
5.2.6 Tele-Medicine
5.2.7 Broadcasting
5.2.8 Others
Chapter 6 Satellite Communication Market: Vertical Estimates & Trend Analysis
6.1 Vertical Movement Analysis & Market Share, 2022 & 2030
6.2 Satellite Communication Market Estimates & Forecast, By Vertical
6.2.1 Energy & utility
6.2.2 Government & Defense
6.2.2.1 Government (Civil Uses)
6.2.2.2 Emergency responders
6.2.2.3 Defense
6.2.3 Transport & Cargo
6.2.3.1 Fleet Management
6.2.3.2 Rail services
6.2.4 Maritime
6.2.5 Mining and oil & gas
6.2.5.1 Oil & Gas
6.2.5.2 Mining
6.2.6 Agriculture
6.2.7 Communication Companies
6.2.8 Corporates/Enterprises
6.2.9 Media & Broadcasting
6.2.10 Events
6.2.11 Aviation
6.2.12 Environmental & Monitoring
6.2.13 Forestry
6.2.14 End User - Consumer
6.2.15 Healthcare
6.2.16 Others
Chapter 7 Satellite Communication Market: Regional Estimates & Trend Analysis
7.1 Satellite Communication Market: Regional Outlook
For more information about this report visit https://www.researchandmarkets.com/r/wohcnj
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