Global Satellite Service Market – Industry Trends and Forecast to 2029

Global Satellite Service Market, By Type (Consumer Services and mobile Satellite Services), End User (Media and Entertainment, Government, Aviation, Defense, Aerospace, Retail and Enterprise and Others) – Industry Trends and Forecast to 2029.

Satellite Service Market Analysis and Size

The increasing adoption of cloud-based solutions and the latest advanced technologies such as AI, ML, and IoT is penetrating the corporate spaces, making it possible to communicate with end-users/customers effectively. Satellite services help businesses improve their operations by increasing storage space, flexibility, scalability, and 24/7 availability. The system operates across multiple networks, voice over internet protocol (VoIP) phone systems, and switched telephone networks (PSTNs), thereby streamlining business communications.

Data Bridge Market Research analyses that the satellite service market was valued at USD 7.51 billion in 2021 and is expected to reach the value of USD 30.20 billion by 2029, at a CAGR of 19.00% during the forecast period of 2022-2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.

Satellite Service Market Scope and Segmentation

Market Definition

Satellite service providers provide satellite capacity to end users such as DTH operators and telecommunications companies. These companies purchase broadcasting capacity from satellite operators and resell voice and data circuits to a variety of end-user industries.

Global Satellite Service Market Dynamics

Drivers

• Rapid digitization and high demand for data transmission

The global satellite service market is benefiting from a rise in digitization and an increase in demand for data transmission via physical media. The increased demand for faster Internet services and the increased demand for data centres are key factors driving the global satellite service market. The global adoption of 3G and 4G, as well as the advancement of 5G, are expected to provide appealing opportunities for the satellite service market. Furthermore, the integration of data and voice transmission services via physical media such as fibre optic cables or wires is expected to drive the satellite service market.

• Growing application of satellite services

The growing demand for satellite television services in developing countries and the increasing applications and acceptance of Artificial Intelligence (AI) and the Internet of Things (IoT) are expected to propel the satellite service market forward. Furthermore, the increased adoption of Satellite Services Market with services such as Consumer Services, Fixed Satellite, Mobile Satellite, and Earth Observation is expected to cushion the market's growth.

Opportunities

• Technological advancements

Technological advancements will provide additional potential opportunities for the growth of the satellite service market in the coming years.

Restraints

• Data privacy

The major challenges of the satellite services market are the high risk of data loss over the internet and privacy concerns. Interoperability and data breaches are expected to impede the growth of the satellite services market during the forecast period.

This satellite service market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the satellite service market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Satellite Services Market

Covid-19 has impacted multiple global markets by rearranging supply chains due to market restrictions and logistics bans imposed by governments all over the world. However, the pandemic had only a minor impact on some markets. The satellite services market expanded rapidly during the pandemic's peak as demand for telecommunication devices increased. Businesses have also installed cloud telephony systems to improve remote working procedures. Cloud telephony is being adopted by medium and small-sized enterprises (SMEs) because it requires less investment and maintenance. The widespread use of satellite services has also improved the customer experience during pandemics when telephonic support is available. As operations have shifted to the online medium, corporate spaces have also installed these systems to improve effective communication among themselves. During the peak of the pandemic, satellite services were also used to track covid-19-related data. To assist the suffering people, government agencies set up cloud telephony services.

Global Satellite Service Market Scope

The satellite services market is segmented on the basis of type and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

• Consumer Services
• Satellite television
• Satellite radio
• Satellite broadband
• Fixed Satellite Services
• Transponder agreements
• Managed network services
• Mobile satellite services
• Remote sensing
• Space flight management services

End users

• Media and Entertainment
• Government
• Aviation
• Defence
• Aerospace
• Retail and Enterprise
• Others

Satellite Service Market Regional Analysis/Insights

The satellite services market is analyzed and market size insights and trends are provided by country, type and end user industry as referenced above.

The countries covered in the satellite services market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the satellite service market because of the defence industry's growing demand for continuous communication. Furthermore, the US defense department's increased demand for SATCOM equipment will fuel the region's satellite service market growth during the forecast period.

Asia-Pacific is expected to see significant growth in the satellite service market because of the increased use of satellite antenna in the telecommunications, information technology, aerospace, and automobile industries. Furthermore, the transformation of infrastructure and rising passenger traffic in marine and coastal tourism are expected to propel the region's satellite service market growth in the coming years.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Satellite Service Market Share Analysis

The satellite service market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to satellite service market.

Some of the major players operating in the satellite service market are:

• SES S.A. (Luxembourg)
• SKY Perfect JSAT Corporation (Japan)
• Thaicom public company limited (Thailand)
• Hispasat (Spain)
• Arabsat (Saudi Arabia)
• Eutelsat communications SA (France)
• Star One credit union (India)
• Singtel (Singapore)
• Intelsat (Luxembourg)
• Telesat (Canada)
• Nigerian communications satellite ltd (Nigeria)