Satellite Services Market 2022

Industry Size, Emerging Trends, Regions, Growth Insights, Opportunities, and Forecast By 2033

Satellite Services Market by Product Type (Satellite Services, Androstadienedione), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies), by Application (Infectious Inflammation, Fertility Control, Others), and by Region – Global Share and Forecast to 2033

Region: Global | Format: Word, PPT, Excel | Report Status: Published

According to the Market Statsville Group (MSG), the global satellite services market size is expected to grow from USD 78115.60 million in 2022 to USD 203615.12 million by 2033, growing at a CAGR of 9.1% from 2023 to 2033. Satellite capacity is provided by satellite service providers to end users such as DTH operators, telecommunication firms, and others. These companies purchase capacity from satellite operators in order to resell voice, broadcasting, and data circuits to a variety of end-user sectors. The satellite services market is expected to develop considerably during the forecast period due to many factors such as increased demand for earth observation services in a variety of industries such as oil and gas, civil engineering, agriculture, and others, which drives the market. Nevertheless, a drop in demand for consumer services in developed regions such as North America and Europe is expected to stymie worldwide market development.

Definition of the Global Satellite Services Market

Satellites receive and send a vast variety of data and information. Due to their location in space, satellites are able to communicate and collect data from virtually anywhere without being limited by terrestrial coverage restrictions. There are different services that are provided by the satellite station such as remote sensing & imaging, mobile communications, broadband connectivity, gps & navigation, emergency response & disaster relief, broadcast: satellite tv & radio, iot and m2m and satellite telehealth. Among the satellite services are mobile wireless voice and data services (other than multi-channel video services and data services reasonably ancillary thereto), as well as all mobile wireless voice and data services reasonably ancillary to such services provided via fixed or non-geostationary satellite under FCC licenses issued under Part 25 of the FCC Rules.

COVID-19 Impact on the Global Satellite Services Market

The COVID-19 epidemic has had a significant impact on the world, causing governments throughout the world to enforce extreme lockdowns and make social distances essential in order to prevent the virus's transmission. COVID-19's fast development had a huge impact on global satellite services firms in 2020 because of the tight lockdown measures imposed globally and the ensuing reduced rate of space launches. The COVID-19 pandemic caused various obstacles for the satellite services industry, including disruptions in raw material supply chains, logistical challenges, workforce challenges, and other challenges.

Global Satellite Services Market Dynamics

Drivers: Increasing demand for LEO based Small Satellites

Demand for low-cost Small Satellites with increased capacity for enterprise data (retail, banking), energy sector (oil, gas, mining), and governments in industrialized countries is growing. Thus, there is increase in demand for low-cost broadband among individual consumers in less developed countries and rural areas, which may not have access to the internet. These market expectations are driving investments in small set-based LEO constellations. Also, there is a high demand for low-cost, high-speed broadband in industrialized countries, and if all planned GEO HTS satellites and LEO constellations succeed, the supply could be much higher than the expected demand. As the demand of Low Earth Orbit satellite and other satellite is driving the market growth of satellite services over the forecast period.

Restraints: Enforcement of laws through governmental organizations in various countries

The revenue growth of the satellite services industry is restricted by the implementation of regulations by governmental organisations in various nations. Satellite services are viewed as an alternative to the more typical cellular network services. As a result, rigid regulatory structures with bandwidth and data quality constraints, as well as poor signal circumstances, are impeding market revenue development. Additionally, due to increased competition from other technologies such as fiber-optic connectivity and Internet Protocol Television, satellite services, particularly shared ones, are facing considerable hurdles (IPTV). Fiber-optic internet service provides a higher bandwidth, frequencies, and data transfer rate than satellite internet service. In recent years, fibre optic cables have transported over 99% of international communications, the majority of which are underwater. There are over 400 subsea cables presently in operation in lengths between 50 miles to 10,000 miles. These types of cables are able to transmit vast volumes of data. Increasing adoption of fiber-optic communication is expected to indirectly restrain revenue growth of the market during the forecast period.

Opportunities: Increased development of satellite network to provide internet access in area without broadband connectivity

Increased development of satellite network to provide internet access in area has created a lot of opportunities in the market of satellite services market over the period in all around the world. The biggest edge satellite internet has over other types of internets that is available in the market. Once new LEO satellite systems like TeleSat, Starlink, OneWeb and many other commercial companies' systems, are put in place orbiting the Earth, customers will be able to access satellite services all around the world, even in out of the way places where internet service isn't otherwise available. This development and government involvement in this market has created opportunities for the market player to capture the market and provides batter services for these industries.

Scope of the Global Satellite Services Market

The study categorizes the satellite services market based on orbit type, services type, application, and end user area at the regional and global levels.

By Orbit Type Outlook (Sales, USD Million, 2019-2033)

  • LEO
  • GEO
  • MEO

By Services Type Outlook (Sales, USD Million, 2019-2033)

  • Consumer Services
    • Satellite Television
    • Satellite Radio
    • Satellite Broadband
  • Fixed Satellite Services
  • Mobile Satellite Services
  • Remote Sensing
  • Space Flight Management Services

By Application Outlook (Sales, USD Million, 2019-2033)

  • Telecommunication
  • Earth & space observation
  • Scientific research
  • Navigation
  • Others

By End-Users Outlook (Sales, USD Million, 2019-2033)

  • Commercial
  • Government & Military
  • Others

By Region Outlook (Sales, USD Million, 2019-2033)

  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • Germany
    • Italy
    • France
    • UK
    • Spain
    • Poland
    • Russia
    • The Netherlands
    • Norway
    • Czech Republic
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Indonesia
    • Malaysia
    • Thailand
    • Singapore
    • Australia & New Zealand
    • Rest of Asia Pacific
  • South America
    • Brazil
    • Argentina
    • Colombia
    • Rest of South America
  • The Middle East & Africa
    • Saudi Arabia
    • UAE
    • South Africa
    • Northern Africa
    • Rest of MEA

Consumer Service segment accounts for the largest market share by services type

Based on the services type, the market is divided into remote sensing, consumer service, fixed satellite services, mobile satellite services, and space flight management services. And further consumer service is divided into satellite television, satellite radio and satellite broadband. The consumer service segment is expected to dominate the market share in 2022 in the global satellite services market. This is due to the outstanding performance of satellite television and satellite internet services in developing countries. Satellite transmission is in great demand throughout Asia-Pacific. Yet, in Asia-Pacific, the cost of a broadband connection, as well as the membership fee of various over-the-top media (OTT) providers, is an affordable choice.

Asia Pacific is expected to witness the largest market share by Region

Based on the regions, the global satellite services market has been segmented across Europe, North America, the Middle East & Africa, Asia-Pacific, and South America. North America is projected to account for the highest market share in 2022. This is due to the increased requirement for continuous communication by the military and defense industries, which has resulted in the US defense department's high adoption of satellite services. In addition, various satellite service providers contribute to market expansion. Furthermore, the regional industry is expected to grow considerably in the coming years as military communication infrastructure is upgraded.

Competitive Landscape: Global Satellite Services Market

The satellite services market is a significant competitor, and extremely cutthroat in the sector are using strategies including product launches, partnerships, acquisitions, agreements, and growth to enhance their market positions. Most sector businesses focus on increasing their operations worldwide and cultivating long-lasting partnerships.

Major key players in the global satellite services market are:

Recent Development

  • In November 2022, Cobham Satcom, a global provider of satellite solutions to the maritime and land segments, and Viasat Inc. announced a collaboration to develop advanced satellite connectivity solutions for maritime and energy industries, ahead of the launch of Viasat's third generation satellite constellation, ViaSat-3.

Key Issues Addressed

  • What is the market size by various segmentation of the satellite services by region and its respective countries?
  • What are the customer buying behavior, key takeaways, and Porter's 5 forces of the satellite services market?
  • What are the key opportunities and trends for manufacturers involved in the satellite services supply chain?
  • What are the fundamental dynamics (drivers, restraints, opportunities, and challenges) of the market?
  • What and how regulations, schemes, patents, and policies are impacting the growth of the market?
  • What are the upcoming technological solutions influencing market trends? How will existing companies adapt to the new change in technology?
  • The market player positioning, top winning strategies by years, company product developments, and launches will be?
  • How has COVID-19 impacted the demand and sales of satellite services in the global market? Also, the expected BPS drop or rise count of the market and market predicted recovery period.
  • Detailed analysis of the competitors and their latest launch, and what are the prominent startups introduced in the target market? Also, detailed company profiling of 25+ leading and prominent companies in the market

Frequently Asked Questions

  • Key Issues Addressed
  • What is the market size and growth rate for different segmentations at a global, regional, & country level?
  • What is the customer buying behavior, key takeaways, and Porter's 5 forces of the market?
  • What are the key opportunities and trends for manufacturers involved in the supply chain?
  • What are the fundamental dynamics (drivers, restraints, opportunities, and challenges) of the market?
  • What and how regulations, schemes, patents, and policies are impacting the growth of the market?
  • How will existing companies adapt to the new change in technology?
  • The market player positioning, top winning strategies by years, company product developments, and launches will be?
  • How has COVID-19 impacted the demand and sales of in the market? Also, the expected BPS drop or rise count of the market and market predicted recovery period.
  • Who are the leading companies operating in the market? Also, who are the prominent startups that disrupt the market in coming years?
  • PUBLISHED ON: MARCH, 2024
  • BASE YEAR: 2023
  • FORECAST PERIOD: 2024-2033
  • STUDY PERIOD: 2019 - 2033
  • COMPANIES COVERED: 15
  • COUNTRIES COVERED: 24
  • NO OF PAGES: 243

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