The Satellite Telecommunications Global Market Report 2023, provides comprehensive information on the satellite telecommunications market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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As per The Business Research Company’s Satellite Telecommunications Global Market Report 2023, the market size is expected to grow from $39.78 billion in 2022 to $41.70 billion in 2023 at a compound annual growth rate (CAGR) of 4.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global satellite telecommunications market is expected to reach $47.77 billion in 2027 at a CAGR of 3.5%.
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Technological advancement is the key trend gaining popularity in the satellite telecommunication market. Major companies operating in the satellite telecommunication market are focusing on developing new technologies. For instance, in January 2023, Qualcomm Technologies, Inc., a US-based manufacturer of digital wireless telecommunication products and services, launched Snapdragon Satellite. This is the world’s first satellite-based two-way messaging solution for luxury smartphones. Snapdragon Satellite is powered by Snapdragon 5G Modem-RF Systems and supported by the Iridium® satellite constellation, which is currently fully operational and is anticipated to offer worldwide access through mobile messaging from all over the world.
The satellite telecommunications market is segmented:
1) By Component: Receiver, Transmitter Or Transponder, Transceiver, Antenna, Other Components
2) By Platform: Portable SATCOM Equipment, Land SATCOM Equipment, Maritime SATCOM Equipment, Airborne SATCOM Equipment
3) By Application: Asset Tracking Or Monitoring, Airtime, Drones Connectivity, Data Backup And Recovery, Navigation And Monitoring, Tele-medicine, Broadcasting, Other Applications
4) By Vertical: Energy And Utility, Government And Defense, Transport And Cargo, Maritime, Mining And Oil And Gas, Agriculture, Communication Companies, Corporates Or Enterprises, Media And Broadcasting, Other Verticals
North America was the largest region in the satellite telecommunications market in 2022.
The table of contents in TBRC’s satellite telecommunications market report includes:
- Executive Summary
- Satellite Telecommunications Market Characteristics
- Satellite Telecommunications Market Trends And Strategies
- Satellite Telecommunications Market – Macro Economic Scenario
- Satellite Telecommunications Market Size And Growth
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- Africa Satellite Telecommunications Market
- Satellite Telecommunications Market Competitive Landscape And Company Profiles
- Key Mergers And Acquisitions In The Satellite Telecommunications Market
- Satellite Telecommunications Market Future Outlook and Potential Analysis
- Appendix
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