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.
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.
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
Market By End Use
Market By Region
North America
Europe
Asia-Pacific
Latin America
Middle East & Africa
The global satellite services market in 2027 is expected to be worth above US$ 159.7 Bn.
In end use segment the media & entertainment is growing at faster pace.
The CAGR of the global satellite services market from 2020-2027 is above 3.0%.
In the global market the Asia Pacific region is expected to grow faster.
Some of the players considered in the report scope are Intelsat, Thuraya Telecommunications Company, and Asia Satellite Telecommunications Co. Ltd.
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.
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.