Increase in Internet of Things (IoT) and autonomous systems and rise in demand for military and defense satellite communication solutions are expected to drive the global satellite communication market growth during the forecast period. However, cybersecurity threats to satellite communication and interference in satellite data transmission are anticipated to hamper the growth of the market during the forecast period. Moreover, technological advancements in satellite missions and deployment of 5G network through satellites are expected to offer lucrative opportunities for the market in the future.
The satellite communication market is segmented into application, component, end-use industry, and region. Based on the application, the market is segmented into voice communication, broadcasting, and data communication. Based on component, it is further divided into equipment and services. Based on end-use industry, the market is classified into maritime, aerospace & defense, industrial, government, transportation & logistics, and media. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The current satellite communication market is quantitatively analyzed from 2019 to 2027 to benchmark the financial competency.
The report presents information related to the key drivers, restraints, and opportunities of the global satellite communication market with a detailed impact analysis. Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the industry.
The overall satellite communication market opportunity is determined by understanding profitable trends to gain a stronger foothold. This study presents the analytical depiction of the global satellite communication market analysis along with the current trends and future estimations to depict imminent investment pockets.
Increase in adoption of SATCOM equipment in online streaming services, radio and TV broadcast Increase in Internet of Things (IoT) and autonomous systems Rise in demand for military and defense satellite communication solutions
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- Headline: Global Satellite Communications Market (2020 to 2027): By Application Industry, Component, and End Use – ResearchAndMarkets.com
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