The Satellite Communication Market is forecast to reach $9.32 billion by 2025, growing at a CAGR of 10.32% from 2020 to 2025. 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 for media and entertainment applications is set to positively impact on the growth of the market as satellite communication plays a crucial role in the communication in providing the subscribers with the high-quality content.
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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 2019, 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. In December 2019, SpaceX has launched Falcon 9 rocket carrying mini satellites to function as cell towers circulating all over the globe thereby contributing to the growth in the mobile satellite services market.
By End user- Segment Analysis
Media and Entertainment is set to dominate the market in 2019. The significant rise in usage of services like Netflix, Amazon Prime Video, YouTube and so on for entertainment is set to contribute to the growth of the market. Adding to this, the breakout of COVID-19 has led to the high traffic in entertainment applications due to lockdowns implemented in various countries. This is set to be a major contributing factor for increasing demand for higher bandwidths resulting in the growth of the market during the forecast period. The Telecom and IT segment is analysed to grow at significant rate during the forecast period, majorly attributed to the deployment of technologically advanced internet connectivity solutions in majority of the firms. All these factors are together impacting the growth of the satellite communication market.
Geography – Segment Analysis
North America is analysed to be the dominant region in 2019, followed by APAC and Europe. This is mainly attributed to the high adoption of the advanced technologies in the region alongside the large infrastructural development for implementation of high broadband services. APAC is anticipated to showcase highest growth rate during the forecast period 2020-2025. This is majorly due to the high number of satellite launches aimed at communication. In November 2018, India launched GSAT-29, a high throughput communication satellite. Adding to this, the development of advanced technologies in countries such as China and South Korea is set to elevate the market growth rate. In November 2019, China has rolled out one of the world’s largest 5G networks in order to become a global technology leader. It has also launched Yinhe-1 commercial low Earth orbit 5G satellite to propel the 5G market deployment in the country. These factors are set to boost the market growth during the forecast period 2020-2025.
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Drivers – Satellite communication market
The increasing demand for the maritime satellite communication is significantly set to contribute to the growth of the market. The growing concern of safety of the people at the borders is creating a dire need for communication. This is set to impact on the growth of the maritime communication satellite market. In April 2019, Orbcomm extended its partnership with Kordia. This is mainly attributed to provide satellite Automatic Identification System (AIS) data used for ship tracking and specific maritime projects.
The rise in demand for the 5G and the rising investments for the infrastructure development is to boost the wireless connectivity market. However the deployment of 5G requires high bandwidth resulting in the launch of satellites thereby contributing to the growth of satellite communication market. For the deployment of 5G, SpaceX has received approval to launch nearly 12,000 starlink internet satellites. Therefore the launch of these satellites is set to drive the satellite communication market.
Challenges – Satellite communication market
Presence of space debris is set to pose severe challenges to the communication satellite market. In April 2019, Intelsat announced that its communication satellite Intelsat29e is completely lost due unmovable piece of space debris. This dead satellite is also a liability for other satellites that are on a similar trajectory as it’s a popular spot to deposit communications and surveillance satellites. Presence of dead satellites is resulting in the space debris is posing a sever threat to the various other satellites as well as the environment. These factors are set to hinder the growth of the market.
Product launches, acquisitions, and R&D activities are key strategies adopted by players in the Satellite communication market. Satellite communication driver market is expected to be dominated by major companies such as China Satcom, AsiaSat, Hughes, Bharti Airtel, Space Star Technology, DirecTV, Sky, Eutelsat, Skyperfect and Telesat among others.
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