Satellite Communication Market Science of Consumer Behavior Leveraging Ethnography Techniques
- by Taiwan News
- Apr 25, 2024
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Check out the latest research report from Report Ocean titled “Satellite Communication Market: Trends Analysis from 2024 to 2032”. This report delivers accurate economic projections, worldwide evaluations, and insights at the country level. Offering a holistic perspective of the competitive landscape, it delves into a detailed supply chain analysis to pinpoint key industry shifts. Dive into the present market landscape, projected growth trajectories, technological innovations, investment prospects, market dynamics, and financial analytics. With a comprehensive examination backed by SWOT analysis, this report provides valuable insights into the industry’s landscape.➤ Download Free Sample ➤
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Satellite Communication Market is valued approximately at USD 62.19 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 9.2% over the forecast period 2020-2027. Satellite Communication is sending, receiving and processing of information or in other words telecommunication. It relays and amplifies radio telecommunication signals via a transponder. The growing need for uninterrupted communication in various industries and increasing need for high throughput satellite services will drive the market growth. Moreover, increasing use of internet of things (IoT) and growing fleet of autonomous and connected vehicles are the few factors responsible for growth of the market over the forecast period.
The rising IoT spending along with the increasing demand for wireless distributed control system in Asia pacific regions, may act as a major driving factor to the growth of the market during the forecast period. According to Statista, the China led the Asia Pacific region in terms of IoT spending, spend around USD 168 billion in 2019. Further the number of internet connections in China was 1.59 billion in 2017 and has risen by 6 billion in 2020. Furthermore, the introduction of products and services along with other strategic alliance by market key players will create a lucrative demand for this market.
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For instance: on 25th October 2018, Viasat Inc., enter into an agreement with SpaceX to launch its ViaSat-3 satellite missions in the 2020 – 2022 timeframe from the Launch Complex 39A (LC-39A) at NASA’s Kennedy Space Center in Florida. This mission aims to deliver terabits of data from space to meet growing global broadband demand and will directly-inject close to geostationary orbit. Whereas, high development and maintenance cost of earth station infrastructures to support satcom devices the growth of global Satellite Communication market during the forecast period.
The regional analysis of global Satellite Communication market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world owing to the rising demand for continuous communication by the defense industry and increased demand for SATCOM equipment by the US defense department. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027.
Major market player included in this report are:
SES S.A.
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