Satellite Services To Garner Business Worth $144.5 Billion, Globally, by 2026 at 2.2% CAGR

Satellite Services Market by Type (Consumer Services, Space Flight Management Services) and End-User: Global Opportunity Analysis, Forecast, 2019–2026.

PORTLAND, OREGON, UNITED STATES, January 3, 2022 /EINPresswire.com/ -- Huge demand for high-resolution imaging services and preferences for managed network services drive the growth in the global satellite services market

Top determinants for growing market

Huge demand for high-resolution imaging services and preferences for managed network services drive the growth in the global satellite services market. However, decline in demand for television services from developing countries hinder the market growth. On the other hand, untapped potential in developing nations create new pathways in the industry.

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North America to continue its lead position during the forecast period

Based on region, North America held the major market share, accounting for nearly half of the total share of the global satellite services market in 2018, and will continue its lead position during the forecast period. This is attributed to the U.S. being the largest consumer in the defense and government sector along with presence of major players. On the other hand, Asia-Pacific is estimated to register at the highest growth rate with a CAGR of 3.3% from 2019 to 2026, owing to huge consumer base of television and broadband services, increase in demand for a fixed broadband connection in the commercial sector, and growth of the IT & services sector.

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Allied Market Research published a report, titled, “Satellite Services Market by Type (Consumer Services, Fixed Satellite Services, Mobile Satellite Services, Remote Sensing, and Space Flight Management Services) and End-User Industry (Media & Entertainment, Government, Aviation, Defense, Aerospace, Retail & Enterprise, and Others): Global Opportunity Analysis and Industry Forecast, 2019–2026.” According to the report, the global satellite services industry garnered $126.5 billion in 2018 and is estimated to generate $144.5 billion by 2026, growing at a CAGR of 2.2% from 2019 to 2026.

Media & entertainment segment to maintain its lead by 2026

Based on end user, the media & entertainment segment held nearly one-fourth of the total market share of the global satellite services market in 2018, and is projected to maintain its lead during the forecast period. This is attributed to massive consumer base in the developed countries and surge in demand for DTH services in the Middle East and Latin America. Contrarily, the retail & enterprise segment is expected to register the highest growth rate with a CAGR of 2.9% from 2019 to 2026.

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North America to continue its lead position during the forecast period

Based on region, North America held the major market share, accounting for nearly half of the total share of the global satellite services market in 2018, and will continue its lead position during the forecast period. This is attributed to the U.S. being the largest consumer in the defense and government sector along with presence of major players. On the other hand, Asia-Pacific is estimated to register at the highest growth rate with a CAGR of 3.3% from 2019 to 2026, owing to huge consumer base of television and broadband services, increase in demand for a fixed broadband connection in the commercial sector, and growth of the IT & services sector.

The satellite services market is expected to witness considerable growth owing to rise in demand from countries such as China, Japan, and India, for communication application, earth observation & imaging application, and others. North America is a significant region for the market owing to presence of major revenue contributors for the global market such as EchoStar Corporation, Intelsat S.A., and Viasat, Inc.

Leading Market Players

Inmarsat plc
Intersputnik
MEASAT
PCCW Global
Intelsat
SES S.A.
Eutelsat Communications SA
Viasat, Inc.
Echostar Corporation China Satellite Communications Co., Ltd. (China Satcom)
Thaicom Public Company Limited
Thuraya Telecommunications Company
Asia Satellite Telecommunications Co. Ltd.

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David Correa
Allied Analytics LLP
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