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.