• The Market for Satellite Communication is projected to reach $10.6 billion by 2026, progressing at CAGR of 9.4% from 2021 to 2026. The rising demand for various applications such as audio broadcasting and voice communications in end-user industries is analysed to fuel the growth of satellite communication industry. The significant adoption of Direct to home(DTH) in media and entertainment applications is set to positively impact the growth of the market as satellite communication plays a crucial role in the communication in providing the subscribers with the high-quality content. The rising adoption of satellite telemetry, automatic identification system and Very Small
Aperture Terminal markets with improved uplink frequency will drive the market growth.
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Key Takeaways
•Media and Entertainment is set to dominate the satellite communication market owing to the rising demand from a growing population. This is mainly attributed to the increasing demand for the internet and online streaming services such as Amazon Prime Video, Netflix and so on.
•North America has dominated the market share in 2020, however APAC is analysed to grow at highest rate during the forecast period due to the high implementation of 5G in the mobile broadband technologies.
•Deployment of 5G, requiring high bandwidth for communication is set to drive the market during the forecast period 2021-2026.
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Satellite Communication Market Segment Analysis - by Satellite Services
Satellite services is segmented into fixed satellite services, broadcasting satellite services, mobile satellite services, radio navigation satellite services and others. Mobile satellite services is analysed to hold the highest share in satellite communication market in 2020 at 39.1% majorly attributed to the high number of subscribers. There are majorly deployed in aeronautical, land and maritime services for communication thereby contributing to the growth of the market.
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