Satellite Services Market (By Type: Consumer Services, Fixed Satellite Services, Mobile Satellite Services, Remote Sensing, Space Flight Management Services; By End Use: Media & Entertainment, Government, Aviation, Defense, Aerospace, Retail & Enterprise, Others) – Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 - 2027
The global satellite services market is anticipated to grow at a CAGR of around 3.0% during the forecast period 2020 to 2027 and to reach around US$ 159.7 Bn by 2027.
Market Dynamics
Flourishing media and entertainment industry across the globe, increasing demand for satellite television from emerging economies and approach towards seamless transmission of data to end-user location are major factors are expected to drive the growth of global market. In addition, major players focus on business expansion through strategic merger and acquisition in order to increase the customer base and enhance the business presence is another factor expected to further support the growth of target market.
- In 2019, Dish Network acquired broadcast satellite service (BSS) business of EchoStar this is expected to help the company to enhance the business and increase the profit ratio.
- In 2019, Rocket Lab acquired Sinclair Interplanetary, a manufacturer of spacecraft hardware. The acquisition will help the company in its own satellite division, which is responsible for making its Photon spacecraft line. This is expected to enhance the profit ratio.
Player are focused on increasing their presence in developing countries; in collaboration with regional distributors they are increasing the presence and through new product launch they are attracting new customers which is expected to further positively impact the growth of target market.
- In 2020, Inmarsat, a leader in global, mobile satellite communications launched telemetry and satellite communications solution for rail industry. The solution provides real-time data transfer and push-to-talk (PTT) communications for rail operators working in remote areas across the globe. This is expected to help the company to expand its customer base.
- In 2020, Inmarsat launched its connectivity services in Saudi Arabia across land, sea and air. The company in collaboration with regional players will bring its world-leading maritime, aviation and enterprise connectivity solutions to customers. Sada Al Ammah and Global Beam Telecom a major distributor of fixed and mobile satellite telecommunications are appointed as Inmarsat’s first distribution partners in Saudi Arabia. This is expected to help the company to expand its business presence.
However, factors such as programmatic and scientific risks involved in the production of small satellites and design limitation related to design and development of small satellites are expected to hamper the growth of global market. In addition, high cost involved in satellite service is another factor expected to challenge the growth of target market.
Rising demand for high data rate communication and geo-based services are factor expected to create new opportunities for players operating in the target market over the forecast period. In addition, business expansion through partnerships and agreements is another factor expected to support the revenue traction of target market.
Satellite Services Market Segment Analysis, 2019
The global satellite services market is segmented into type and end use industry. The type segment is further bifurcated into consumer services, fixed satellite services, mobile satellite services, remote sensing, and space flight management services. Among end use the media & entertainment segment is expected to account for significant revenue share in the global market.
Segment Analysis by Region
The market in North America is expected to account for significant revenue share owing to availability of advanced infrastructure coupled with rising demand for earth observation services from various end use industries. In addition, presence of major players operating in the country and high investment for providing innovative solution is expected to further support the growth of target market in this region.
Asia Pacific is expected to witness faster growth in the near future owing to increasing demand for consumer services for high performance of satellite television and satellite broadband service. In addition, major players approach towards emerging economies in order to track the untapped market is another factor expected to further support the growth of target market.
Competitive Landscape
The global market is high highly competitive due to presence of large number of players and innovative product offerings. In addition, business expansion activities through partnerships and agreements are factors expected to further increase the competition.
Report coverage
|
Market |
Global Satellite Services Market |
|
Analysis Period |
2016 – 2027 |
|
Base Year |
2019 |
|
Forecast Data |
2020 – 2027 |
|
Market Stratification |
Type, End Use and Geography |
|
Regional Scope |
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
|
Report Coverage |
Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis |
The market research study on “Satellite Services Market (Type: Consumer Services, Fixed Satellite Services, Mobile Satellite Services, Remote Sensing, and Space Flight Management Services; End Use: Media & Entertainment, Government, Aviation, Defense, Aerospace, Retail & Enterprise, and Others) – Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 - 2027”, offers a detailed insights on the global satellite services market entailing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact are provided in the report. The report provides insights on global satellite services market segment by type, end use and major geographic regions. The report covers basic development policies and layouts of technology development processes. Secondly, the report covers global satellite services market size and segment markets by type, end use and geography along with the information on companies operating in the market. The satellite services market analysis is provided for major regional market including North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. For each region, the market size for different segments has been covered under the scope of report. The players profiled in the report SES S.A., Eutelsat Communications SA, Viasat, Inc., Echostar Corporation China Satellite Communications Co., Ltd., Thaicom Public Company Limited., Inmarsat plc, Intersputnik, MEASAT, PCCW Global, Intelsat, Thuraya Telecommunications Company, and Asia Satellite Telecommunications Co. Ltd.
Market Segmentation
Market By Type
- Consumer Services
- Fixed Satellite Services
- Mobile Satellite Services
- Remote Sensing
- Space Flight Management Services
Market By End Use
- Media & Entertainment
- Government
- Aviation
- Defense
- Aerospace
- Retail & Enterprise
- Others
Market By Region
North America
- U.S.
- Canada
Europe
- UK.
- Germany
- France
- Spain
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
Frequently Asked Questions
What will be the market size on satellite services market in 2027?
The global satellite services market in 2027 is expected to be worth above US$ 159.7 Bn.
Which segment is growing faster in end use segment?
In end use segment the media & entertainment is growing at faster pace.
What is the CAGR of the global satellite services market?
The CAGR of the global satellite services market from 2020-2027 is above 3.0%.
Which region is expected to grow faster?
In the global market the Asia Pacific region is expected to grow faster.
What are the players considered in the report scope?
Some of the players considered in the report scope are Intelsat, Thuraya Telecommunications Company, and Asia Satellite Telecommunications Co. Ltd.
Which major factors are expected to drive the growth of global satellite services market?
Flourishing media and entertainment industry across the globe, increasing demand for satellite television from emerging economies and approach towards seamless transmission of data to end-user location are major factors are expected to drive the growth of global market.
Why North America is expected to account for significant revenue share?
The market in North America is expected to account for significant revenue share owing to availability of advanced infrastructure coupled with rising demand for earth observation services from various end use industries.
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