North America's Satellite Communication Dominance Propels Global Market Towards USD 160.65 Billion by 2030, with Key Players Viasat, EchoStar, and Intelsat Leading the Way
New York, United States, Nov. 08, 2023 (GLOBE NEWSWIRE) -- A satellite can receive signals from the earth, transmit them using a transponder, and operate at -150 to 150 C in space. Government and commercial uses include remote voice and data services, in-flight entertainment, asset tracking, monitoring, and telemedicine. "The media and broadcasting segment dominated the market in terms of revenue and is expected to grow at a 10.5% CAGR during (2022–2030)," stated by Research Manager at Straits Research P. Ltd.
Satellite communication has gained popularity due to its ubiquity and security. The U.S. Government, especially the Department of Defense, is the largest commercial satellite consumer (DoD). Increased military/defense spending has also contributed to the expansion of military satellite communication services. Satellite communications provide secure bandwidth for military operations in remote areas with poor communications infrastructure. Fixed Satellite Services (FSS) revenue from government and military applications is expected to rise in the coming years. This is due to the government's efforts to support the growing communication needs of applications like AISR and COTM (COTM).
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Satcom is preferred in numerous applications across industries, including the maritime and aviation industries. All maritime market segments, including merchant shipping, leisure yachts, cruise ships, container vessels, fishing vessels, and offshore applications, have a high demand for satellite broadband services. In addition, the International Maritime Organization's (IMO) regulations, such as the Safety of Life at Sea (SOLAS) convention and Global Maritime Distress and Safety System (GMDSS), contribute to the market's expansion. Commercial and business aviation influence the expansion of demand for in-flight connectivity services.
High growth in 5G deployment and adoption is expected to continue, and telecommunications companies are deploying terrestrial network infrastructure to support 5G functionality. Wireless providers use satellite communications to expand ...
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