Global Satellite-Based Cloud Computing Market to Reach $472.6 Million by 2032 - Exclusive DeepTech M-A-P™ Analysis by BIS Research

By adopting cloud solutions and services, organizations avoid the latency of the network, move business workloads to a cloud platform, and support their key business activities effectively.

FREMONT, Calif., Jan. 24, 2023 /PRNewswire/ -- BIS Research, the global leader in providing market intelligence on deep technologies, has released its latest study titled Satellite-Based Cloud Computing Market - A Global and Regional Analysis.

According to this study, the global satellite-based cloud computing market was valued at $368.3 million in 2022 and is projected to reach $472.6 million by 2032.

The following factors are responsible for the increase in demand for satellite-based cloud computing:

• Rising concern around end-user data and privacy
• Increased migration of applications to the cloud
• Increasing adoption of technologies such as artificial intelligence, machine learning, 5G, and IoT
• Increasing need for accessing data anytime and anywhere

The detailed study is a compilation of 53 market data tables and 12 figures spread through 122 pages.

Check out the detailed table of content here:
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Analyst's Take on the Market Projection

According to Arunkumar Sampathkumar, Principal Analyst, BIS Research, "The global satellite-based cloud computing market is anticipated to propel over the forecast period owing to rapid digitization and increased demand for data privacy and security. Cloud computing provides faster and more efficient ways to run and adapt business operations to changing market requirements based on behavioral changes among people and shifts in business trends. Terrestrial cloud computing services streamline the consumerization of technology. Cloud computing services have enabled multiple lines of businesses."

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Secured Data Services to be the Leading Application Segment in the Market

The services in the satellite-based cloud computing market include secured data storage, space-based cloud infrastructure, and data distribution. Actionable plans of end user vertical enterprises, along with growing demand for data security and privacy, is proliferating demand for space-based cloud infrastructure.

The study from BIS Research suggests that in 2021, the secured data services segment was valued at $92.4 million and is expected to grow at a healthy CAGR of 2.81% between 2022-2032.

Major Existing Industry Leaders in the Satellite-Based Cloud Computing Market

The companies that are profiled have been selected based on input gathered from primary experts and analyzing company coverage, product portfolio, and market penetration. Some of the established names in the market are Cloud Constellation Corporation (SpaceBelt), LEOcloud, Inc., Ramon.Space, Aistech Space, Astrocast, BlackSky Technology Inc., Capella Space, Starlink (Space Exploration Technologies Corporation), Kuiper Systems LLC, OneWeb, Planet Labs PBC, Satellogic, Spire Global, Inc., Amazon Web Services, Inc., Microsoft Azure, and Google Cloud Platform.

Recent Developments in the Global Satellite-Based Cloud Computing Market

• In November 2022, Eutelsat S.A., a satellite operator, signed a final agreement covering its acquisition of low Earth orbit satellite outfit OneWeb from Bharti, Softbank, Hanwha, and the U.K. government, following approval by its board of directors. The acquisition is still subject to regulatory approval.
• In April 2022, Omnispace and Thales Alenia Space, a joint venture between Thales (67%) and Leonardo (33%), announced that Omnispace Spark-1 was successfully delivered into orbit aboard the SpaceX Transporter-4. The Omnispace Spark program represents phase one in developing and delivering the world's first standards-based global hybrid network.
• In March 2022, Microsoft Corporation acquired Nuance Communications Inc., a leader in conversational AI and ambient intelligence across industries including healthcare, financial services, retail, and telecommunications. The acquisition would combine Nuance's best-in-class conversational AI and ambient intelligence with Microsoft's secure and trusted industry cloud offerings.

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About BIS Research: 

BIS Research is a global B2B market intelligence and advisory firm focusing on deep technology and related emerging trends which can disrupt the market dynamics in the near future. We publish more than 200 market intelligence studies annually that focus on several deep technology verticals. 

Our strategic market analysis emphasizes on market estimations, technology analysis, emerging high-growth applications, deeply segmented granular country-level market data, and other important market parameters useful in the strategic decision-making for senior management. 

BIS Research offers syndicate as well as custom studies and expert consultations to firms, providing them with specific and actionable insights on novel technology markets, business models, and competitive landscapes. 

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