Satellite Communication Market Outlook On The Basis Of Component, Application, Vertical, Region And Forecast From 2021 to 2028: Grand View Research Inc.


 San Francisco, 12 Aug 2021: The Report Satellite Communication Market Size, Share & Trends Analysis Report By Component (Equipment, Services), By Application (Broadcasting, Airtime), By Vertical, By Region, And Segment Forecasts, 2021 - 2028

The global satellite communication market size is expected to reach USD 137.63 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 9.8% from 2021 to 2028. The growing adoption rate of small satellites in the defense industry for applications, including geospace and atmospheric research, tactical communication, and medium resolution imagery, is anticipated to propel the market growth. Besides, the escalating demand for satellite communication (SATCOM) solutions in the aviation sector for better airline operations and air traffic management is expected to boost the market growth in the forthcoming years.

With the rise of the 5G network and launches of several scheduled Low Earth Orbit (LEO) and Medium Earth Orbit (MEO) satellites, the market for SATCOM is expected to grow at a significant pace in the forthcoming years. Additionally, the expansion of satellite communication into the connectivity market has influenced the SATCOM providers to increase the emphasis on securing the speed of deployment of the Internet of Things (IoT) across the globe. At present, there are around 2.7 million devices serviced by satellites, including infrastructure, aviation, environmental monitoring, shipping, and military support.

In recent years, SATCOM providers have been observed with a paradigm shift towards offering high-capacity satellite transponders in terms of bandwidth that are capable of better transponder throughput, thereby decreasing costs. A SATCOM transponder is a wireless communication, monitoring, and control device that detects and automatically reacts to an incoming signal. Furthermore, factors such as a rise in demand for corporate enterprise networks and consumer broadband and growing Ka-band and Ku-band services are expected to boost the satellite transponder segment demand in the overall market over the forecast period. Moreover, with the recent space development missions by various space organizations, including the National Space Administration of China and the Indian Space Research Organization of India, the overall market demand has witnessed considerable growth in the Asia Pacific region.

Access Research Report of Satellite Communication Market @ https://www.grandviewresearch.com/industry-analysis/satellite-communication-market

Satellite Communication Market Report Highlights

  • The SATCOM market is driven by the growing need for enriched data communication across the globe
  • By component, the equipment segment is expected to register the highest CAGR from 2021 to 2028 owing to the benefits offered by SATCOM equipment, including locating undetected tunnels, integrating targets, and tracing movements
  • In terms of vertical, the media and broadcasting segment held the largest market share in 2020 owing to the high penetration of satellite TV services across the globe
  • The government and defense vertical segment is anticipated to register the highest CAGR of 11.6% over the forecast period primarily owing to the increasing use of satellite communication for military operations
  • In 2020, North America held the largest share in terms of revenue, followed by Europe, owing to the increasing passenger traffic in marine and coastal tourism in the region. In addition, these regions are characterized by the presence of a large number of market players

List of Key Players of Satellite Communication Market

  • SES S.A.
  • Viasat, Inc.
  • Intelsat
  • Telesat
  • EchoStar Corporation
  • L3 Technologies, Inc.
  • Thuraya Telecommunications Company
  • SKY Perfect JSAT Group
  • GILAT SATELLITE NETWORKS
  • Cobham Limited

Access Press Release of Satellite Communication Market @ https://www.grandviewresearch.com/press-release/global-satellite-communication-market

 

Comments

Post a Comment

Popular posts from this blog

Asia Pacific PoC Diagnostics Market Growth Opportunities, Industry Analysis And Forecast: Grand View Research Inc.

Image
San Francisco, 18 March 2020 :  The Report   Asia Pacific PoC Diagnostics Market  Analysis And Segment Forecasts To 2020 The Asia Pacific point of care (PoC) diagnostics market is expected to reach USD 5,427.1 million by 2020, according to a new study by Grand View Research, Inc. Growing base of geriatric population and the ability to render immediate results and improve patient care coupled with rising market penetration of PACS (picture archiving and communication systems) and EMR (electronic medical records) are expected to drive demand over the next six years. Skilled staff shortages, especially pertaining to the field of diagnostics are also expected to accelerate the market penetration rates of PoC products, by expediting lab automation processes. Rising demand for home healthcare and other healthcare establishments catering to the elderly population and initiatives undertaken by governments to shorten hospital stays by establishing out-patient care models are also expect
Read more

U.K. Point Of Sale Software Market To Expand Industry Growth At USD 1.05 Billion By 2028

Image
  San Francisco, 21 Jan 2022:   The Report  U.K. Point Of Sale Software Market  Size, Share & Trends Analysis Report By Application (Fixed POS, Mobile POS), By Deployment, By Organization Size, By End-user, And Segment Forecasts, 2021 - 2028 The global U.K. point of sale software market size is expected to reach USD 1.05 billion by 2028, expanding at a CAGR of 8.1% from 2021 to 2028, according to the new study conducted by Grand View Research, Inc. The integration of a Point-Of-Sale (POS) solution with capabilities such as sales reports monitoring, cash flow recording, product demand analysis, tracking delivery status, and inventory management ensure systematic functioning and upscaling of a business. The adoption of POS software is directly impacted by the demand for POS terminals, which is witnessing growth in demand due to changing lifestyles and government policies. However, the COVID-19 pandemic disrupted the industry's business, wherein retail stores, restaurants, and hot
Read more