Dublin, Sept. 30, 2024 (GLOBE NEWSWIRE) -- The "Satellite Communication Market by Type (Telecommunication Services, Broadcasting Services, Data Communication Services), Application (Critical Communication, Navigation, DTH, IoT, Satellite Broadband) and Region - Global Forecast to 2029" report has been added to ResearchAndMarkets.com's offering.
The satellite communication market is estimated at USD 16.9 billion in 2024 to USD 33.2 billion by 2029, at a Compound Annual Growth Rate (CAGR) of 14.5%.
The satellite communication services market is growing exponentially. The growth can be attributed to various factors. These include the need for dependable connections in remote plus marginal areas, expansion in IoT and Machine-to-Machine (M2M) applications, and an increasing dependence on satellite-based broadcasting and data transfer. Because of this, enterprises such as SpaceX have launched LEO satellites that provide fast internet globally at very low latency levels. Consequently, new opportunities are emerging in fields like the maritime industry as well as air transport, among others, where reliable communication is essential. 
By enteprise, telecom segment to hold the largest market size during the forecast period
Enterprise networks' capabilities and efficiency are greatly enhanced by combining satellite communication with cutting-edge technologies like blockchain, 5G AI, and other AI systems. For telecom providers, this combination enhances the functionality and efficiency of their communication services. When you mix satellite communication with 5G, you get faster connections and less delay, which helps data move and makes networks more reliable. AI helps by making networks run better and handling data more, while blockchain keeps data trades safe and clear. Together, these improvements make satellite-based services more effective, letting companies handle their communication needs better and develop new ideas for how they operate.
The data communication segment to register the fastest growth rate during the forecast period
The expansion of new frequency bands, particularly in the high-frequency (HF) and very high-frequency (VHF) range, significantly enhances the capabilities of the data communication services segment within the satellite communication market. These higher frequency bands make more bandwidth available, which is critical to supporting applications with high data transfer rates.
In the case of remote sensing, for example, it is necessary to quickly transfer high-resolution data volumes from satellites to ground stations; with extended frequency bands, this can be done at faster and more efficient speeds. In applications of sharing considerable data in real-time, such as live broadcasting or any other kind of real-time monitoring in sectors like environmental management and defense, this increased bandwidth could, therefore, allow seamless and uninterrupted data flows. This not only improves the quality and speed of data communication but also provides enormous scope for numerous advanced applications, which, till now have remained restricted owing to the limited bandwidth, thus fueling growth and innovation in the satellite data communication services market.
Middle East & Africa's highest growth rate during the forecast period
Big projects and investments drive the Middle East and Africa satellite communications market. In Saudi Arabia, Neo Space Group is establishing an entity with the Public Investment Fund to compete much more with the global space economy. NSG is involved in satellite communications, Earth observation, satellite navigation, and IoT in solving connectivity issues in these rural areas, accommodating 15.71% of the population.
Such an objective is cemented by the like of King Abdul Aziz City for Science and Technology, being the single largest hub in the country, which is home to 43 broadband constellations that carry heterogeneous applications with dissimilar tasks, including emergency response. Other major incuders in the satellite communication market include the likes of Yahsat, Thurya, and MBRSC. Such firms have nine satellites in GEO and LEO orbits, corresponding to diverse mobile, broadband, and remote-sensing applications. Leading such projects, the Nayif-1 nanosatellite and the Yahsat Project Sky provide a platform for the UAE to contribute meaningfully to the global communication competency upliftment, leading the way to become further entrenched as a satellite leader while assisting the TDRA.
Research Coverage
The market study covers the satellite communication market size across different segments. It aims at estimating the market size and the growth potential across various segments, including By type (telecommunication services, broadcasting services, data communication services), by application (critical communications, navigation, IoT, DTH, satellite broadband, other applications) by end-user (consumer, enterprise) by enterprise (telecom, media & entertainment, maritime, government & defense, energy & utilities, aviation, transportation & logistics, other enterprises)) and Region. The study includes an in-depth competitive analysis of the leading market players, their company profiles, key observations related to product and business offerings, recent developments, and market strategies.
The report provides insights on the following:
- Analysis of key drivers (increased demand for connectivity in remote areas, expansion of IoT and M2M communication, rising adoption of satellite-based broadcasting and streaming, advancements in satellite technology and deployment of LEO satellites), restraints (High initial and operational costs, Regulatory and spectrum allocation challenges, increased advancements in the terrestrial networks), opportunities (rising need for satellite-based connectivity in maritime and aviation, growth of satellite internet for consumer and enterprises), and challenges (latency and bandwidth limitations, evolving cybersecurity threats) influencing the growth of the satellite communication market.
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the satellite communication market.
- Market Development: The report provides comprehensive information about lucrative markets and analyses the satellite communication market across various regions
- Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the satellite communication market.
- Competitive Assessment: In-depth assessment of market shares, growth strategies and service offerings of leading include include SES, Starlink, Globalstar, Hughes Networks Systems, Intelsat, Viasat, Telesat, Amazon, Eutelsat, Iridium Communications, Singtel, Gilat Satellite Networks, Speedcast, Lynk, Anuvu, Avanti, Arabsat, Yahsat, Kepler Communications, Navarino.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 222 |
| Forecast Period | 2024 - 2029 |
| Estimated Market Value (USD) in 2024 | $16.9 Billion |
| Forecasted Market Value (USD) by 2029 | $33.2 Billion |
| Compound Annual Growth Rate | 14.5% |
| Regions Covered | Global |
Key Topics Covered:
Premium Insights
- Growth Opportunities for Players in Satellite Communication Market
- Satellite Communication Market, by Type
- Satellite Communication Market, by Application
- Satellite Communication Market, by End-user
- Satellite Communication Market, by Enterprise
- North America: Satellite Communication Market, by Type and End-user
Market Overview and Industry Trends
Drivers
- Increased Demand for Connectivity in Remote Areas
- Expansion of IoT and M2M Communications
- Rising Adoption of Satellite-based Broadcasting and Streaming
- Advancements in Satellite Technology and Deployment of Leo Satellites
Restraints
- High Initial Investment and Operational Costs
- Regulatory and Spectrum Allocation Challenges
- Competition from Terrestrial Networks
- Risk of Space Debris and Satellite Failures
Opportunities
- Rising Demand for Satellite-based Connectivity in Maritime and Aviation Industries
- Expanding Role of Satellite Communication in Disaster Management and Emergency Services
- Growing Demand for Satellite Internet for Consumers and Enterprises
- Partnerships and Collaborations for 5G Integration
Challenges
- Latency and Bandwidth Limitations in Certain Applications
- Evolving Cybersecurity Threats
Case Study Analysis
- Satellite Streaming in Peru
- StarTV Became High-Quality, Affordable Tv Broadcasting Service for Millions of Homes in Mexico
- Leap Toward Uninterrupted Connectivity in South Africa
- Connecting Schools in Niger
- SES Helping Eliminate Digital Divide in Mexico
Satellite Communication Market, by Type
- Telecommunication Services
- Shift Toward Satellite-based Connectivity to Enhance Network Coverage
- Broadcasting Services
- Satellite Communication Technology Increases Broadcasting Coverage & Quality in Remote Areas
- Data Communication Services
- Demand for High-Speed Data Transfer Services to Drive Market
Satellite Communication Market, by Application
- Critical Communications
- Need for Rapid Communication Services in Emergency Situations to Drive Market
- Navigation
- Increasing Demand for Real-Time, Accurate Navigation Data to Drive Market
- IoT
- Cost Reductions and Improved Scalability Make Satellite Technology More Accessible for Large-Scale IoT Deployments
- DTH
- Rising Preference for Personalized and On-Demand Viewing Experiences to Boost Dth Adoption
- Satellite Broadband
- Demand for Reliable and Affordable Connectivity in Remote Areas to Drive Market
- Other Applications
Satellite Communication Market, by End-user
- Consumers
- Expansion of Digital Content to Boost Satellite Service Demand
- Enterprises
- Telecom
- Need to Expand Network Coverage and Capacity to Accommodate Growing Data Consumption to Drive Market
- Use Cases
- Remote and Rural Connectivity
- Capacity Augmentation
- Media & Entertainment
- Demand for High-Definition and Live-Streaming Content to Boost Market
- Use Cases
- Live Event Broadcasting
- Content Distribution
- Maritime
- Need for Connectivity in Remote Maritime Routes to Fuel Satellite Services Demand
- Use Cases
- Vessel Tracking and Navigation
- Weather and Navigation Updates
- Government & Defense
- Demand for Secure and Reliable Communication Channels for Sensitive Information and Operations to Drive Market
- Use Cases
- Intelligence Gathering and Surveillance
- Secure Communications
- Energy & Utilities
- Increasing Demand for Remote Monitoring of Infrastructure to Drive Market
- Use Cases
- Remote Monitoring and Control
- Predictive Maintenance
- Aviation
- Need for Operational Efficiency in Flight Management to Drive Market
- Use Cases
- In-Flight Connectivity
- Flight Tracking and Monitoring
- Transportation & Logistics
- Need for Real-Time Fleet Tracking to Drive Market
- Use Cases
- Fleet Management and Tracking
- Traffic Management
- Other Enterprises
- Use Cases
- Remote Learning and E-Learning
- Emergency Medical Services
- Point-Of-Sale Systems
- Yield Prediction and Mapping
- Use Cases
Satellite Communication Market, by Region
- US: Investments by US Military to Improve Satellite Communication Infrastructure to Drive Market Growth
- Canada: Improvement in Network Connectivity in Rural Areas to Drive Market
- UK: Participation of Private Players in Collaborative Research to Advance Satellite Communication Technology to Drive Market
- Germany: Government Initiatives to Expand Low-Cost Connectivity to Spur Market Growth
- France: Partnership with Different Countries and Launch of New Satellites to Drive Market
- Italy: Government Investment in Geo and Leo Satellites to Drive Demand for Satellite Communication Services
- China: Expansive Satellite Communication Policy and Robust Infrastructure to Drive Market
- India: Increasing Focus on Space Sector and Providing Low-Cost Internet in Rural Areas for Better Connectivity to Drive Market
- Japan: Increasing Participation of Private Players and Collaboration to Drive Market
- KSA: Establishment of Neo Space Group to Drive Market
- UAE: Increasing Focus of Research and Educational Institutes on Improving Satellite Communication to Boost Market Growth
- South Africa: Growing Focus on Enhancing Rural Connectivity to Drive Market
- Brazil: Increasing Focus on Improving Infrastructure for Critical Operations to Drive Demand for Satellite Communication Services
- Mexico: Government Initiatives Such as Internet Para Todos to Drive Market
Company Profiles
- Starlink
- SES
- Intelsat
- Eutelsat
- Viasat, Inc.
- Iridium Communications Inc.
- Telesat
- Singtel
- Globalstar, Inc.
- Hughes Network Systems
- Gilat Satellite Networks
- Speedcast
- Amazon Kuiper
- Lynk Global
- Anuvu
- Avanti Communications
- Arabsat
- Yahsat
- Kepler Communications
- Navarino
For more information about this report visit https://www.researchandmarkets.com/r/w2lfue
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