Global satellite communication market (2020 to 2027)

The “Satellite Communication Market by Application, Component and End-Use Industry: Global Opportunity Analysis and Industry Forecast, 2020-2027” report has been added to ResearchAndMarkets.com’s offering.

Satellite communications is the technology applied in communication of data, voice, or video at low latency and high bandwidth over long distances by commercial, civil, and government agencies. The satellite communication is utilized in Very Small Aperture Terminal (VSAT) systems, Digital Satellite News Gathering (DSNG), Direct-to-Home (DTH) television broadcasting, and several other applications, owing to the coverage and outreach capacities of satellite communication systems.

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. Business Wire