Global Satellite Communication (SATCOM) Market Analysis Report 2023-2030: IoT and 5G Convergence Elevates Satellite Communication Market Growth

DUBLIN, Aug. 17, 2023 /PRNewswire/ — The “Satellite Communication (SATCOM) Market Size, Share & Trends Analysis Report By Component (Equipment, Services), By Application (Broadcasting, Airtime), By Vertical, By Region, And Segment Forecasts, 2023 – 2030” report has been added to ResearchAndMarkets.com’s offering.
The global satellite communication market is poised for substantial growth, with a projected size of USD 159.60 billion by 2030, expanding at an impressive compound annual growth rate (CAGR) of 9.7% during the period from 2023 to 2030
The driving force behind this expansion is the remarkable surge in demand for satellite broadband services, particularly in remote and underserved areas. This growing demand for connectivity solutions is proving to be a significant factor fueling the market’s advancement.
Satellite communication, also known as SATCOM, plays a pivotal role in bridging the connectivity gap, offering businesses, governments, and communities access to high-speed internet, voice services, and multimedia applications. As this trend gains momentum, it unveils substantial opportunities for satellite communication providers to extend their services to a broader customer base and extend their market footprint.
The growing integration of satellite communication with emerging technologies such as 5G networks and IoT is also contributing to the growth of the market. The convergence of these technologies opens up new avenues for advanced applications, smart city initiatives, and transformative connectivity solutions. Satellite communication acts as a critical enabler, providing wide-area coverage, and connecting remote and challenging environments.Several satellite communication solution providers are striking partnerships with other satellite communication solution providers to develop advanced systems aimed at delivering better connectivity for end-users. For instance, in November 2022, Viasat, Inc. announced a strategic collaboration with Cobham SATCOM to develop an advanced satellite connectivity system for the energy and maritime industries. The connectivity system was carefully developed to leverage the substantial satellite capacity anticipated from the ViaSat-3 constellation. It incorporated a range of innovative antenna systems from Cobham Satcom, aiming to provide cutting-edge, high-speed connectivity.The COVID-19 pandemic has moderately impacted the satellite communication industry, leading to significant changes and advancements in the industry. One of the key effects of the pandemic has been the widespread adoption of remote work and telecommuting, which highlighted the importance of reliable and resilient connectivity. Satellite communication played a crucial role in ensuring uninterrupted communication and data transmission for remote workers, enabling them to stay connected regardless of their location.Satellite Communication Market Report Highlights
The services segment dominated the market in 2022 owing to the worldwide expansion of the media and entertainment sectors and the rising popularity of satellite television in emerging economiesThe broadcasting segment dominated the market in 2022. The increasing need for satellite communication in applications such as pay TV and radio has driven the growth of the broadcasting segmentThe government & defense segment is projected to grow at the highest CAGR over the forecast period. The growth of this segment is being fueled by a growing focus on secure and resilient satellite communication solutions, which are essential to meet the evolving requirements of government agencies and defense organizationsNorth America dominated the market in 2022 owing to the increasing demand for satellite broadband services, particularly in remote and inaccessible areasCompetitive Landscape
Company CategorizationParticipant’s OverviewFinancial PerformanceProduct BenchmarkingCompany Market PositioningCompany Market Share Analysis, 2022Company Heat Map AnalysisStrategy MappingPartnerships, agreements & collaborationsNew Service launchesAcquisitionsCompany Profiles
Viasat, Inc.SES S.A.IntelsatTelesatEchoStar CorporationL3Harris Technologies, Inc.Thuraya Telecommunications CompanySKY Perfect JSAT GroupGilat Satellite Networks.Cobham LimitedKey Attributes:
Report Attribute
Details
No. of Pages
100
Forecast Period
2022 – 2030
Estimated Market Value (USD) in 2022
$77.08 billion
Forecasted Market Value (USD) by 2030
$159.6 billion
Compound Annual Growth Rate
9.7 %
Regions Covered
Global
 
Key Topics Covered: Chapter 1 Methodology and ScopeChapter 2 Executive Summary2.1 Market Snapshot2.2 Segment Snapshot2.3 Competitive Landscape SnapshotChapter 3 Satellite Communication Market Variables and Trends3.1 Market Lineage Outlook3.2 Industry Value Chain Analysis3.2.1 Satellite manufacturers and operators3.2.2 Service providers & Technology Trends3.3 Market Dynamics3.3.1 Market Driver Impact Analysis3.3.1.1 Increasing use of satellite communications in the government & defense sector3.3.1.2 Growing use of satellite communication for mobility applications3.3.2 Market Challenge Impact Analysis3.3.2.1 Cybersecurity concerns3.3.1 Market Opportunity Impact Analysis3.3.1.1 Growing deployments of 5G services across the globe3.4 Impact of the COVID-19 Pandemic3.5 Industry Analysis Tools3.5.1 Porter’s Analysis3.5.2 PESTEL analysisChapter 4 Satellite Communication Market: Component Estimates & Trend Analysis4.1 Component Movement Analysis & Market Share, 2022 & 20304.2 Satellite Communication Market Estimates & Forecast, By Component4.2.1 Equipment4.2.1.1 SATCOM transmitter/transponder4.2.1.2 SATCOM antenna4.2.1.3 SATCOM transceiver4.2.1.4 SATCOM receiver4.2.1.5 SATCOM modem/router4.2.1.6 OTHERS4.2.2 ServicesChapter 5 Satellite Communication Market: Application Estimates & Trend Analysis5.1 Application Movement Analysis & Market Share, 2022 & 20305.2 Satellite Communication Market Estimates & Forecast, By Application5.2.1 Asset Tracking/Monitoring5.2.2 Airtime5.2.2.1 M2M5.2.2.2 Voice5.2.2.3 Data5.2.3 Drones Connectivity5.2.4 Data Backup and Recovery5.2.5 Navigation and Monitoring5.2.6 Tele-Medicine5.2.7 Broadcasting5.2.8 OthersChapter 6 Satellite Communication Market: Vertical Estimates & Trend Analysis6.1 Vertical Movement Analysis & Market Share, 2022 & 20306.2 Satellite Communication Market Estimates & Forecast, By Vertical6.2.1 Energy & utility6.2.2 Government & Defense6.2.2.1 Government (Civil Uses)6.2.2.2 Emergency responders6.2.2.3 Defense6.2.3 Transport & Cargo6.2.3.1 Fleet Management6.2.3.2 Rail services6.2.4 Maritime6.2.5 Mining and oil & gas6.2.5.1 Oil & Gas6.2.5.2 Mining6.2.6 Agriculture6.2.7 Communication Companies6.2.8 Corporates/Enterprises6.2.9 Media & Broadcasting6.2.10 Events6.2.11 Aviation6.2.12 Environmental & Monitoring6.2.13 Forestry6.2.14 End User – Consumer6.2.15 Healthcare6.2.16 OthersChapter 7 Satellite Communication Market: Regional Estimates & Trend Analysis7.1 Satellite Communication Market: Regional Outlook
For more information about this report visit https://www.researchandmarkets.com/r/e4j57o
About ResearchAndMarkets.comResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Media Contact:
Research and MarketsLaura Wood, Senior Managerpress@researchandmarkets.com 
For E.S.T Office Hours Call +1-917-300-0470For U.S./CAN Toll Free Call +1-800-526-8630For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907Fax (outside U.S.): +353-1-481-1716
Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg
View original content:https://www.prnewswire.com/news-releases/global-satellite-communication-satcom-market-analysis-report-2023-2030-iot-and-5g-convergence-elevates-satellite-communication-market-growth-301903590.html
SOURCE Research and Markets 

DUBLIN, Aug. 17, 2023 /PRNewswire/ — The “Satellite Communication (SATCOM) Market Size, Share & Trends Analysis Report By Component (Equipment, Services), By Application (Broadcasting, Airtime), By Vertical, By Region, And Segment Forecasts, 2023 – 2030” report has been added to ResearchAndMarkets.com’s offering.

The global satellite communication market is poised for substantial growth, with a projected size of USD 159.60 billion by 2030, expanding at an impressive compound annual growth rate (CAGR) of 9.7% during the period from 2023 to 2030

The driving force behind this expansion is the remarkable surge in demand for satellite broadband services, particularly in remote and underserved areas. This growing demand for connectivity solutions is proving to be a significant factor fueling the market’s advancement.

Satellite communication, also known as SATCOM, plays a pivotal role in bridging the connectivity gap, offering businesses, governments, and communities access to high-speed internet, voice services, and multimedia applications. As this trend gains momentum, it unveils substantial opportunities for satellite communication providers to extend their services to a broader customer base and extend their market footprint.

The growing integration of satellite communication with emerging technologies such as 5G networks and IoT is also contributing to the growth of the market. The convergence of these technologies opens up new avenues for advanced applications, smart city initiatives, and transformative connectivity solutions. Satellite communication acts as a critical enabler, providing wide-area coverage, and connecting remote and challenging environments.

Several satellite communication solution providers are striking partnerships with other satellite communication solution providers to develop advanced systems aimed at delivering better connectivity for end-users. For instance, in November 2022, Viasat, Inc. announced a strategic collaboration with Cobham SATCOM to develop an advanced satellite connectivity system for the energy and maritime industries. The connectivity system was carefully developed to leverage the substantial satellite capacity anticipated from the ViaSat-3 constellation. It incorporated a range of innovative antenna systems from Cobham Satcom, aiming to provide cutting-edge, high-speed connectivity.

The COVID-19 pandemic has moderately impacted the satellite communication industry, leading to significant changes and advancements in the industry. One of the key effects of the pandemic has been the widespread adoption of remote work and telecommuting, which highlighted the importance of reliable and resilient connectivity. Satellite communication played a crucial role in ensuring uninterrupted communication and data transmission for remote workers, enabling them to stay connected regardless of their location.

Satellite Communication Market Report Highlights

The services segment dominated the market in 2022 owing to the worldwide expansion of the media and entertainment sectors and the rising popularity of satellite television in emerging economiesThe broadcasting segment dominated the market in 2022. The increasing need for satellite communication in applications such as pay TV and radio has driven the growth of the broadcasting segmentThe government & defense segment is projected to grow at the highest CAGR over the forecast period. The growth of this segment is being fueled by a growing focus on secure and resilient satellite communication solutions, which are essential to meet the evolving requirements of government agencies and defense organizationsNorth America dominated the market in 2022 owing to the increasing demand for satellite broadband services, particularly in remote and inaccessible areas

Competitive Landscape

Company CategorizationParticipant’s OverviewFinancial PerformanceProduct BenchmarkingCompany Market PositioningCompany Market Share Analysis, 2022Company Heat Map AnalysisStrategy MappingPartnerships, agreements & collaborationsNew Service launchesAcquisitions

Company Profiles

Viasat, Inc.SES S.A.IntelsatTelesatEchoStar CorporationL3Harris Technologies, Inc.Thuraya Telecommunications CompanySKY Perfect JSAT GroupGilat Satellite Networks.Cobham Limited

Key Attributes:

Report Attribute

Details

No. of Pages

100

Forecast Period

2022 – 2030

Estimated Market Value (USD) in 2022

$77.08 billion

Forecasted Market Value (USD) by 2030

$159.6 billion

Compound Annual Growth Rate

9.7 %

Regions Covered

Global

 

Key Topics Covered:

Chapter 1 Methodology and Scope

Chapter 2 Executive Summary
2.1 Market Snapshot
2.2 Segment Snapshot
2.3 Competitive Landscape Snapshot

Chapter 3 Satellite Communication Market Variables and Trends
3.1 Market Lineage Outlook
3.2 Industry Value Chain Analysis
3.2.1 Satellite manufacturers and operators
3.2.2 Service providers & Technology Trends
3.3 Market Dynamics
3.3.1 Market Driver Impact Analysis
3.3.1.1 Increasing use of satellite communications in the government & defense sector
3.3.1.2 Growing use of satellite communication for mobility applications
3.3.2 Market Challenge Impact Analysis
3.3.2.1 Cybersecurity concerns
3.3.1 Market Opportunity Impact Analysis
3.3.1.1 Growing deployments of 5G services across the globe
3.4 Impact of the COVID-19 Pandemic
3.5 Industry Analysis Tools
3.5.1 Porter’s Analysis
3.5.2 PESTEL analysis

Chapter 4 Satellite Communication Market: Component Estimates & Trend Analysis
4.1 Component Movement Analysis & Market Share, 2022 & 2030
4.2 Satellite Communication Market Estimates & Forecast, By Component
4.2.1 Equipment
4.2.1.1 SATCOM transmitter/transponder
4.2.1.2 SATCOM antenna
4.2.1.3 SATCOM transceiver
4.2.1.4 SATCOM receiver
4.2.1.5 SATCOM modem/router
4.2.1.6 OTHERS
4.2.2 Services

Chapter 5 Satellite Communication Market: Application Estimates & Trend Analysis
5.1 Application Movement Analysis & Market Share, 2022 & 2030
5.2 Satellite Communication Market Estimates & Forecast, By Application
5.2.1 Asset Tracking/Monitoring
5.2.2 Airtime
5.2.2.1 M2M
5.2.2.2 Voice
5.2.2.3 Data
5.2.3 Drones Connectivity
5.2.4 Data Backup and Recovery
5.2.5 Navigation and Monitoring
5.2.6 Tele-Medicine
5.2.7 Broadcasting
5.2.8 Others

Chapter 6 Satellite Communication Market: Vertical Estimates & Trend Analysis
6.1 Vertical Movement Analysis & Market Share, 2022 & 2030
6.2 Satellite Communication Market Estimates & Forecast, By Vertical
6.2.1 Energy & utility
6.2.2 Government & Defense
6.2.2.1 Government (Civil Uses)
6.2.2.2 Emergency responders
6.2.2.3 Defense
6.2.3 Transport & Cargo
6.2.3.1 Fleet Management
6.2.3.2 Rail services
6.2.4 Maritime
6.2.5 Mining and oil & gas
6.2.5.1 Oil & Gas
6.2.5.2 Mining
6.2.6 Agriculture
6.2.7 Communication Companies
6.2.8 Corporates/Enterprises
6.2.9 Media & Broadcasting
6.2.10 Events
6.2.11 Aviation
6.2.12 Environmental & Monitoring
6.2.13 Forestry
6.2.14 End User – Consumer
6.2.15 Healthcare
6.2.16 Others

Chapter 7 Satellite Communication Market: Regional Estimates & Trend Analysis
7.1 Satellite Communication Market: Regional Outlook

For more information about this report visit https://www.researchandmarkets.com/r/e4j57o

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

Media Contact:

Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com 

For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716

Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg

View original content:https://www.prnewswire.com/news-releases/global-satellite-communication-satcom-market-analysis-report-2023-2030-iot-and-5g-convergence-elevates-satellite-communication-market-growth-301903590.html

SOURCE Research and Markets

 

Spread The Word...

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments

LATEST POST

Apple HomePod finally gets hands-free Spotify thanks to this iOS 17 workaround
Apple HomePod finally gets hands-free Spotify thanks to this iOS 17 workaround
BIGG Digital Assets Inc
BIGG Digital Assets Inc. News Release
GoPro HERO12 Black HDR action camera delivers HyperSmooth 6
GoPro HERO12 Black HDR action camera delivers HyperSmooth 6.0 video stabilization
AGM Results
AGM Results
First Watch Named to Newsweek’s Top 100 Most Loved Workplaces® for Second Consecutive Year
First Watch Named to Newsweek’s Top 100 Most Loved Workplaces® for Second Consecutive Year
Schrodinger, The New Memecoin Sensation Based On A Unique Quantum Cat, Announces Successful Launch
Schrodinger, The New Memecoin Sensation Based On A Unique Quantum Cat, Announces Successful Launch

CONTRIBUTE

Please contribute and support me to keep this website alive. Any BIG or small amount contributed is very much appreciated.

Thank you!