Dublin, Sept. 20, 2021 (GLOBE NEWSWIRE) -- The "Satellite Services Market by Type (LEO, MEO, and GEO), Communications (Voice and Data), Solutions, Applications, Segments (Consumer, Enterprise, Industrial, and Government), and Industry Verticals 2021 - 2026" report has been added to ResearchAndMarkets.com's offering.
The business drivers for satellite communications and applications are clear. Satellites provide coverage in areas where terrestrial wireless cannot. In fact, land-based wireless-only covers roughly 12% of the globe. Certain verticals, such as the maritime industry, require global coverage. This will be especially important as shipping begins to adopt autonomous transport as vessels will continue to require ship-to-shore communications as well as a new need for signaling with onboard ship sensors for navigation and ship controls.
The asset management industry also requires satellite systems for coverage in support of fleet tracking, supply chain management, and general asset tracking needs. The advent of advanced Internet of Things (IoT) solutions leveraging machine-to-machine communications and other supporting technologies enables anytime, anywhere, any type of asset tracking. Satellites provide seamless M2M communications for the IoT-based asset tracking market.
While GPS provides the bulk of this today, it is not the best solution for latency-sensitive applications and/or those that require high bandwidth. There is a market need for additional satellite types to provide bandwidth on demand, uninterrupted connectivity, and support for mission-critical operations that require ultra-reliable communications. This is similar to the business case for 5G in private networks such as industrial applications that are time-sensitive. While 5G is poised to dramatically increase terrestrial radiodensity, coverage is not a strong suit, and thus the need for satellites to fill in the holes. Satellites will also be an option for 5G backhaul.
Satellite services also provide coverage for business solutions that are often problematic and/or in remote areas such as mining operations, deep-water, and agriculture in third-world countries. Satellite services are also important in certain industries that require continuous network coverage such as oil & gas, transportation systems involving hybrid networks for autonomous vehicles, and other mission-critical services. In addition to providing continuous coverage in areas not practical by terrestrial systems, satellites may also provide continuous service in the event that terrestrial systems have a service outage.
However, satellite services do have some downsides, which include cost and signal latency. The former is in a downward trajectory and the latter will be solved by low earth orbit (LEO) satellite systems. The upside of LEOs is that they have much lower latency due to their shorter distance to the earth's surface, but there is a need for many more than middle-earth orbit or geosynchronous satellites and there is also a need for frequent hand-off from one LEO satellite to another. Fortunately, LEO satellites are also much smaller than GEOs, often weighing as little as 10kg (as compared to 1,000kg or more for GEOs) and thus require less expensive launch vehicles.
One of the additional drivers for LEO vs. GEO is that there is a limited number of orbital slots available for GEO satellites. However, LEO’s are not the perfect solution as there are concerns about plans from the likes of SpaceX, OneWeb, and even Amazon to collectively launch thousands of satellites into orbit rendering the earth’s atmosphere a sea of machines. To partially deal with this issue SpaceX requested permission from the FCC to adjust the orbital spacing of its satellites to facilitate three orbital planes rather than one, which they claim will accelerate deployment by taking advantage of a wider service area
Select Report Findings:
- Coupled with drone solutions, LEO based satellites will change the face of modern communications as anywhere communications become a reality for virtually any application and industry vertical
- The global satellite service market will spawn economic development value up to 50 times the combined cost of capital expenditures to deploy infrastructure and operational expense to maintain systems
- Satellite markets are rapidly expanding beyond traditional market verticals such as government, maritime, and aerospace to include many enterprise B2B and consumer-facing business applications and services
- Emerging satellite solutions are poised to cover a substantial percentage of the globe the was previously economically or even physically unreachable, creating market development opportunities for emerging economies
- Various Internet of Things and People (IoTP) solutions will emerge as satellite services provide the ability for combined M2M and people-oriented services to provide IoTP solutions that leverage the interaction between people and things as well as interrelationship between the physical world and the cyber world on a global scale.
For more information about this report visit https://www.researchandmarkets.com/r/j61ts2
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