Dublin, April 10, 2024 (GLOBE NEWSWIRE) -- The "Global Satellite Connectivity Market (2024 Edition): Analysis By Component (Video, Fixed, Mobility), By Type, By End-use, By Region, By Country: Market Insights and Forecast (2020-2030)" report has been added to ResearchAndMarkets.com's offering.
The Global Satellite Connectivity market showcased growth at a CAGR of 13.92% during 2020-2023. The market was valued at USD 5.66 Billion in 2023 which is expected to reach USD 14.94 Billion in 2030.
This report provides a complete analysis for the historical period of 2020-2023, estimates of 2024 and the forecast period of 2025-2030. The report analyses the Satellite Connectivity Market by Region (Americas, Europe, Asia Pacific, Middle East and Africa) and 10 Countries (United States, Canada, Brazil, United Kingdom, Germany, France, China, Japan, India and Australia).
The satellite communication sector has seen significant change in the last few years as a result of new business models and technology breakthroughs. This industry, which has historically been dominated by geostationary satellite operators, is currently seeing major disruption from new competitors deploying low-Earth orbit (LEO) constellations. This is leading to serious concerns about the long-term viability of satellite communication (satcom) operators in a rapidly changing connectivity market.
The Global market is growing as a result of the ongoing developments in satellite technology, which include the creation of smaller, more effective satellites, enhanced launch capabilities, higher throughput satellite (HTS) systems, and sophisticated networking protocols. These developments also spur innovation and increase the capabilities of satellite connectivity solutions. Across the globe, governments are investing in satellite communication infrastructure to facilitate a range of uses, such as border control, surveillance, national security, disaster management, and remote sensing.
An important factor in the market's expansion has been satellite communication services. In isolated and rural areas where terrestrial infrastructure is either non-existent or too expensive, satellites offer vital connectivity. Furthermore, in emergency response and disaster recovery situations where ground-based infrastructure is compromised or overloaded, satellite communication is frequently utilized.
The market is expected to grow as a result of increase in demand for earth observation satellites, the privatization of the space industry, and a surge in demand for satellite data from various business verticals. Furthermore, Intelligent Transport Systems (ITS) have been made possible by the growing uses and adoption of the IoT and Artificial Intelligence.
Global satellite connectivity providers are expected to witness further growth in demand as they broaden their coverage, enhance network efficiency, and cut costs. Satellite connectivity will continue to be an essential part of the world's communications network, connecting underprivileged and unserved communities and facilitating a wide range of global businesses and applications.
Numerous industries, including telecommunications, maritime, aviation, oil and gas, agriculture, emergency response, and government services, rely on satellite connectivity for various uses. In the expanding worldwide IoT connectivity market, satellite connectivity is starting to play a part.
The deployment of next-generation satellite constellations, such as LEO and medium Earth orbit (MEO) systems, along with ongoing improvements in satellite technology promise to further enhance the capabilities and competitiveness of satellite communication services. Increased coverage areas, reduced latency, and higher speeds could result from these developments.
Scope of the Report
- The report analyses the Satellite Connectivity Market by Value (USD Billion).
- The report analyses the Satellite Connectivity Market by Region (Americas, Europe, Asia Pacific, Middle East and Africa) and 10 Countries (United States, Canada, Brazil, United Kingdom, Germany, France, China, Japan, India and Australia).
- The report presents the analysis of Satellite Connectivity Market for the historical period of 2020-2023, the estimated year 2024 and the forecast period of 2025-2030.
- The report analyses the Satellite Connectivity Market By Component (Video, Fixed, Mobility).
- The report analyses the Satellite Connectivity Market By Type (GEO, NGSOs).
- The report analyses the Satellite Connectivity Market By End-use (Commercial, Government & Military, Earth Observation).
- The key insights of the report have been presented through the frameworks of SWOT and Porter's Five Forces Analysis. Also, the attractiveness of the market has been presented by region, by component, by type & by end-use.
- Also, the major opportunities, trends, drivers, and challenges of the industry has been analyzed in the report.
- The report tracks competitive developments, strategies, mergers and acquisitions and new product development.
Analyst Recommendations
- Technology Innovation and Customized Solutions
- Foster Interoperability and Cross-Platform Integration
Competitive Positioning
- Companies' Product Positioning
- Market Position Matrix
- Market Share Analysis of Global Satellite Connectivity Market
Company Profiles
- SES S.A.
- Eutelsat S.A.
- Viasat
- Honeywell International Inc.
- Thales Group
- EchoStar Corporation
- L3Harris Technologies, Inc.
- The Boeing Company
- Iridium Communications Inc.
- Norsat International Inc.
For more information about this report visit https://www.researchandmarkets.com/r/6z1n3a
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