Satellite Services Market Value Future Scenario To 2030

According to the Market Statsville Group (MSG), the global satellite services market size is expected to grow from USD 78115.60 million in 2022 to USD 203615.12 million by 2033, growing at a CAGR of 9.1% from 2023 to 2033. Satellite capacity is provided by satellite service providers to end users such as DTH operators, telecommunication firms, and others. These companies purchase capacity from satellite operators in order to resell voice, broadcasting, and data circuits to a variety of end-user sectors. The satellite services market is expected to develop considerably during the forecast period due to many factors such as increased demand for earth observation services in a variety of industries such as oil and gas, civil engineering, agriculture, and others, which drives the market. Nevertheless, a drop in demand for consumer services in developed regions such as North America and Europe is expected to stymie worldwide market development.

Definition of the Global Satellite Services Market

Satellites receive and send a vast variety of data and information. Due to their location in space, satellites are able to communicate and collect data from virtually anywhere without being limited by terrestrial coverage restrictions. There are different services that are provided by the satellite station such as remote sensing & imaging, mobile communications, broadband connectivity, gps & navigation, emergency response & disaster relief, broadcast: satellite tv & radio, iot and m2m and satellite telehealth. Among the satellite services are mobile wireless voice and data services (other than multi-channel video services and data services reasonably ancillary thereto), as well as all mobile wireless voice and data services reasonably ancillary to such services provided via fixed or non-geostationary satellite under FCC licenses issued under Part 25 of the FCC Rules.

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Scope of the Global Satellite Services Market

The study categorizes the satellite services market based on orbit type, services type, application, and end user area at the regional and global levels.

By Orbit Type Outlook (Sales, USD Million, 2019-2033)

LEO

GEO

MEO

By Services Type Outlook (Sales, USD Million, 2019-2033)

Consumer Services

Satellite Television

Satellite Radio

Satellite Broadband

Fixed Satellite Services

Mobile Satellite Services

Remote Sensing

Space Flight Management Services

By Application Outlook (Sales, USD Million, 2019-2033)

Telecommunication

Earth & space observation

Scientific research

Navigation

Others

By End-Users Outlook (Sales, USD Million, 2019-2033)

Commercial

Government & Military

Others

By Region Outlook (Sales, USD Million, 2019-2033)

North America

US

Canada

Mexico

Europe

Germany

Italy

France

UK

Spain

Poland

Russia

The Netherlands

Norway

Czech Republic

Rest of Europe

Asia Pacific

China

Japan

India

South Korea

Indonesia

Malaysia

Thailand

Singapore

Australia & New Zealand

Rest of Asia Pacific

South America

Brazil

Argentina

Colombia

Rest of South America

The Middle East & Africa

Saudi Arabia

UAE

South Africa

Northern Africa

Rest of MEA

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Consumer Service segment accounts for the largest market share by services type

Based on the services type, the market is divided into remote sensing, consumer service, fixed satellite services, mobile satellite services, and space flight management services. And further consumer service is divided into satellite television, satellite radio and satellite broadband. The consumer service segment is expected to dominate the market share in 2022 in the global satellite services market. This is due to the outstanding performance of satellite television and satellite internet services in developing countries. Satellite transmission is in great demand throughout Asia-Pacific. Yet, in Asia-Pacific, the cost of a broadband connection, as well as the membership fee of various over-the-top media (OTT) providers, is an affordable choice.

Asia Pacific is expected to witness the largest market share by Region

Based on the regions, the global satellite services market has been segmented across Europe, North America, the Middle East & Africa, Asia-Pacific, and South America. North America is projected to account for the highest market share in 2022. This is due to the increased requirement for continuous communication by the military and defense industries, which has resulted in the US defense department's high adoption of satellite services. In addition, various satellite service providers contribute to market expansion. Furthermore, the regional industry is expected to grow considerably in the coming years as military communication infrastructure is upgraded.

Competitive Landscape: Global Satellite Services Market

The satellite services market is a significant competitor, and extremely cutthroat in the sector are using strategies including product launches, partnerships, acquisitions, agreements, and growth to enhance their market positions. Most sector businesses focus on increasing their operations worldwide and cultivating long-lasting partnerships.

Major key players in the global satellite services market are:

Telespazio

Vizocom

Embratel Star One

Visiona Tecnologia Espacial

Hughes Network Systems Brazil

Viasat Brazil

Satellogic

Company 8

Company 9

Other Companies

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Recent Development

In November 2022, Cobham Satcom, a global provider of satellite solutions to the maritime and land segments, and Viasat Inc. announced a collaboration to develop advanced satellite connectivity solutions for maritime and energy industries, ahead of the launch of Viasat's third generation satellite constellation, ViaSat-3.