FREMONT, California, Oct. 16, 2019 /PRNewswire/ -- According to a new market intelligence report by BIS Research titled "Global Software-Defined Satellite Market - Analysis and Forecast, 2019-2030", the global software-defined satellite market generated a revenue of $1.23 billion in 2018 and is projected to reach $3.63 billion by 2030. The market is expected to grow at a CAGR of 14.81% during the forecast period from 2019 to 2030. The market is expected to witness a high growth rate owing to significantly enhanced capabilities of electronic and communication technology, flexibility to alter the in-orbit satellite missions, and increasing demand for autonomous satellites in deep space mission.
Along with leveraging technological benefits and dynamic operations, software-defined satellites provide several business opportunities to software developing companies, which was traditionally among space agencies, satellite manufacturers, operators, and service providers. However, the impending challenge to integrate satellites with terrestrial technologies and vulnerability to cyber-attacks are some of the major restraints for the market. This report aims to provide an in-depth understanding of the major factors that are expected to act as drivers, challenges, and opportunities for the software-defined satellite market in the coming future.
Currently, companies such as IBM, Google, SAP, Greekware, Amazon, and Nvidia are collaborating with space agencies and commercial companies to integrate advanced products such as cloud computation, artificial intelligence, machine learning, and data security, to enable satellites to complement or bypass terrestrial network. For instance, in November 2018, European Space Agency (ESA) announced the development of Earth observation satellite with artificial intelligence processor in collaboration of Amazon, Google, NVIDIA, and SAP.
In addition, ESA has plans to develop an AI system as a part of Earth Observation Envelope Program, which is expected to acquire images from all the satellites operated by ESA and European commercial players, and thus deriving the potential information by analyzing this huge data. Such developments signify increased adoption of advanced technology at components and subsystem level to evolve in new business ventures, in order to remain competitive and to adapt with evolving consumer demand.
According to Rahul Papney, Principal Analyst at BIS Research, "Software-defined satellites are expected to emerge as a potential driver to uptake orders of commercial satellites in geostationary orbit (GEO). There has been a gradual decline in commercial GEO satellites from past four years, and the decline is anticipated to prolong during the coming years. This has led to tremendous technological betterment in satellite components by satellite manufacturers, wherein software-defined satellites are expected to emerge as a major technological advancement in this regard. These satellites are expected to change the market landscape of commercial GEO satellites over the coming years."
This report by BIS Research provides a detailed analysis of the recent trends influencing the software-defined satellite market, along with a comprehensive study of the future trends and technological developments. It also includes a competitive analysis of the leading players in the industry, including corporate overview, financial summary, and SWOT analysis. The overall market has been segmented into end user, application, subsystem, type, and region.
Additionally, the study provides a detailed analysis of 15 key players including SSTL, SSL, The Boeing Company, Airbus S.A.S, Harris Corporation, SES, Eutelsat, Intelsat, Inmarsat, Spire Global, AIKO Space, Maxar Technologies, Lockheed Martin Corporation, Thales Group, Northrop Grumman Corporation, Vector Launch, NVIDIA, and IBM, among others, in the company profiles section. This section covers business financials, company snapshots, key products and services, major developments, future programs (if any), and the individual SWOT analysis.
Key Questions Answered in the Report:
1. How much revenue was generated by the software-defined satellite market in 2018? How is the industry expected to evolve during the forecast period 2019-2030?
2. What are the underlying structures resulting in the emerging trends within the software-defined satellite and technology industry?
3. What will be the expected competitive strength and market share analysis of software-defined satellite by operators and manufacturers?
4. What are the influencing factors that may affect the market share of the key players in the coming future?
5. How each segment of the software-defined satellite market is projected to grow during the forecast period from 2019-2030, on the basis of:
End user segment, including commercial, government and defense, and academic
Mass segment, including heavy software-defined satellites, large software-defined satellites, medium software-defined satellites, and small software-defined satellites
Orbit segment, including geosynchronous earth orbit (GEO), medium earth orbit (MEO), low earth orbit (LEO)
Technology segment, including reconfigurable payload, software-defined radio (SDR), and artificial intelligence (AI) and cloud computation
Payload segment, payload, structure, telecommunication, on-board computer, attitude control system, power system, and propulsion system
Service segment, including software-as-a-service and platform-as-a-service
Region segment, including North America, Europe, Asia-Pacific, and Rest-of-the-World (ROW)
6. Who are the current key players investing in software-defined satellites and technologies?
7. What are the key development strategies which are implemented by the chief players to sustain the competitive market?
8. What are the key strategies being adopted by major countries to accelerate research in software-defined satellites?
BIS Research is a global market intelligence and advisory firm, which focuses on those emerging trends in technology, which are likely to disrupt the dynamics of the market.
With over 150 market research reports published annually, BIS Research focuses on various technology verticals such as 3D printing, advanced materials & chemicals, aerospace and UAV and other emerging technologies.
Our in-depth market intelligence reports focus on the 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 the senior management.