Westford, USA, Sept. 04, 2024 (GLOBE NEWSWIRE) -- SkyQuest projects that Global Satellite Communication (SATCOM) Market will attain a value of USD 188.94 Billion by 2031, with a CAGR of 9.60% during the forecast period (2024-2031). This expectation is made possible by High-throughput Satellite (HTS) systems, which have considerably faster data transfer speeds and larger capacity than conventional systems; thus, they will entrench themselves so well within the market such that they are likely to evolve fast due to market demand trends. HTS systems enable quicker and more efficient data transfers for applications that require a lot of bandwidth, including video streaming services, remote sensing technologies and IoT connections. Such frequency bands include low frequencies and high frequencies, which are the new kids on the block as far as satellite communication spectrum is concerned.
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Browse in-depth TOC on the " Satellite Communication (SATCOM) Market "
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Satellite Communication (SATCOM) Market Overview:
| Report Coverage | Details |
| Market Revenue in 2023 | $90.75 Billion |
| Estimated Value by 2031 | $188.94 Billion |
| Growth Rate | Poised to grow at a CAGR of 9.60% |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Components, Application, Verticals, Frequency Band and Satellite Constellations |
| Geographies Covered | North America, Europe, Asia-Pacific, and the Rest of the world |
| Report Highlights | Revolutionizing earth observation and global communications across industries |
| Key Market Opportunities | Cloud computing is Unlocking new growth avenues in the market |
| Key Market Drivers | SATCOM set for lucrative growth in agriculture and public safety |
Equipment Components to Dominate the Market Due to Enhanced Gaming Performance and User Experience
The global market in mobile gaming is dominated by hardware parts such as powerful CPUs, modern graphics cards and high resolutions displaying options to get better performance from your games plus enhance your overall experience. Manufacturers are driven to innovate and enhance hardware in response to the growing demand for immersive, high-quality gaming. This creates a never-ending cycle of technological breakthroughs that further solidifies their market supremacy.
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Broadcasting Application is Largest Growing Sub-Segment Due to Live Streaming and eSports
The growing popularity of live streaming and eSports is the reason behind broadcasting applications' domination in the global mobile gaming market. The global market in mobile gaming is dominated by hardware parts such as powerful CPUs, modern graphics cards and high resolutions displaying options to get better performance from your games plus enhance your overall experience.
Greater Investment in military communication infrastructure Helped North America to Dominate the Market
With over 39% of the global satellite communication (SATCOM) market in 2022, North America held a dominant position. The rise is ascribed to the US defence department's increased need for SATCOM equipment as well as the defence industry's growing need for constant communication. Moreover, the rise of the satellite communication (SATCOM) market is being fuelled by the existence of numerous SATCOM providers, including Viasat, Inc., Telesat, and EchoStar Corporation.
Satellite Communication (SATCOM) Market Insight
Drivers:
- SATCOM set for Lucrative Growth in Agriculture and Public Safety
- Driving Efficiency and Sustainability in Remote Operations
- Growing Threat of Cybercrimes in the Expanding Mobile Gaming Industry
Restraints:
- High Development and Maintenance Restraining SATCOM Market Growth
- Concerns Over Data Privacy and Security
- Developing H igh-Quality Mobile Games Requires Substantial Investment in Technology
Prominent Players in Satellite Communication (SATCOM) Market
The following are the Top Satellite Communication (SATCOM) Companies
- Inmarsat plc (UK)
- Intelsat S.A. (Luxembourg)
- SES S.A. (Luxembourg)
- Eutelsat Communications S.A. (France)
- Viasat, Inc. (USA)
- Iridium Communications Inc. (USA)
- Hughes Network Systems LLC (USA)
- Globalstar, Inc. (USA)
- Thuraya Telecommunications Company (United Arab Emirates)
- ORBCOMM Inc. (USA)
- Ligado Networks LLC (USA)
- Satcom Global Ltd (UK)
- Kongsberg Satellite Services AS (Norway)
- Cobham SATCOM (Denmark)
- Comtech Telecommunications Corp. (USA)
Key Questions Answered in Global Satellite Communication (SATCOM) Report
- What is the estimated value of the global public cloud market by 2031, and what is the anticipated compound annual growth rate (CAGR) for the 2024–2031 projection period?
- What are the elements contributing to the domination of the fastest expanding sub-segment of the mobile gaming market?
- Which two major factors, as described in the text, are propelling the SATCOM market's expansion?
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This report provides the following insights:
- Analysis of key drivers (eSports sector has grown remarkably, growth opportunities in the agriculture & public safety industry, transfer data collected by navigational satellites and collecting operational data to improve efficiency), restraints (High development & maintenance costs in SATCOM, possibility of cybercrimes in mobile games presents a serious obstacle and data breaches or security vulnerabilities in mobile gaming platforms) opportunities (Transforming nature the mobile games business, better growth options for mobile game providers and more-realistic gaming environment with AR), and challenges (Exposing players' personal information and infractions that can cause regulatory penalties) influencing the growth of satellite communication (SATCOM) market
- Market Penetration: Comprehensive information on the product portfolios offered by the top players in the satellite communication (SATCOM) market
- Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product launches in the satellite communication (SATCOM) market
- Market Development: Comprehensive information on lucrative emerging regions
- Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the market
- Competitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and products of the leading market players.
Related Reports:
Military Communications Market
Unified Communication as a Service Market
Commercial Satellite Imaging Market
About Us:
SkyQuest is an IP focused Research and Investment Bank and Accelerator of Technology and assets. We provide access to technologies, markets and finance across sectors viz. Life Sciences, CleanTech, AgriTech, NanoTech and Information & Communication Technology.
We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization have expanded our reach across North America, Europe, ASEAN and Asia Pacific.
About Us:
SkyQuest is an IP focused Research and Investment Bank and Accelerator of Technology and assets. We provide access to technologies, markets and finance across sectors viz. Life Sciences, CleanTech, AgriTech, NanoTech and Information & Communication Technology.
We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization has expanded our reach across North America, Europe, ASEAN and Asia Pacific.
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