ALBANY, New York, July 2, 2020 /PRNewswire/ -- Strides in optical satellite communication technologies endow an array of benefits to users in wireless networks, including access to gigabit capacity backhaul links. The drive for M2M communication and Internet of Things (IoT) has opened new avenues in the optical satellite communication technology.
The revenues of global optical satellite communication market stood at US$ 297.2 million in 2017 and are expected to touch worth of US$ 4,238.7 million in 2027. This represents robust CAGR of 31.5% from 2019 to 2027 during the forecast period.
Advantages over conventional RF technologies will drive the demand for optical satellite communication in deploying 5G networks and next-gen backhaul capacity networks for various wireless application. Among the various applications, the backhaul segment is expected to expand at the leading CAGR during the period.
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Key Findings of Optical Satellite Communication Market Report
- Among the various components, the transmitter segment led the market; it is anticipated to retain its lead throughout the forecast period. Focus on satellite-to-ground applications fuel the revenue potential from the segment
- Backhaul segment is expected to rise at the most attractive CAGR during 2019 – 2027
- Of the various applications, surveillance and security hold the major share in optical satellite communication market; it is expected to retain its lead
- Among the various regions, Asia Pacific is anticipated to expand at the leading CAGR during 2019 – 2027; Initiatives by governments to bolster wireless network capacity
- North America expected to hold leading share in optical satellite communication market in 2017; major revenue generators are the U.S. and Canada
Explore 192 pages of top-notch research, incisive insights, and detailed country-level projections. Gain business intelligence on Optical Satellite Communication Market (Component – Transmitter, Receiver, Modulator, Demodulator; Application - Backhaul, Surveillance and Security, Tracking and Monitoring, Earth Observation, Enterprise Connectivity, Last Mile Access, Research and Space Exploration, Telecommunication) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 – 2027 at https://www.transparencymarketresearch.com/optical-satellite-communication-market.html
Optical Satellite Communication Market: Key Driving Factors and Promising Avenues
- The opportunities in the optical satellite communication market have received a major impetus from the large-scale adoption of wireless networks in consumer and commercial markets.
- Rise in numbers of smartphone users in various parts of the world is a key trend spurring investments in high-speed data transmission technologies.
- According to an estimate, the number of worldwide smartphone users has crossed a mark of 2.7 billion in 2019
- Sales of M2M communication devices in recent years in developing regions of the world have spurred opportunities for providers in the optical satellite communication market.
- Rising research in high-end backhaul connections has boosted the development of reconfigurable broadband communication networks.
- Deployment of next generation mobile network (5G) is on the cards for numerous economies who look to advance their internet and communication technologies. This has spurred investments by governments of numerous countries to collaboratively work toward satellite launching projects. A case in point is recent initiative by NASA.
- Growing role of optical satellite communication technologies in military surveillance operations is bolstering prospects in the market.
Analyze Optical Satellite Communication Market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study
Global Optical Satellite Communication Market: Regional Landscape
North America is expected to hold the leading position in optical satellite communication market. The regional market is expected to maintain its status quo in near future.
Meanwhile, Asia Pacific and Europe are proving to be substantially lucrative markets in recent years. Governments in these regions have upped their ante in optical communication projects, particularly for next generation (5G) network. Particularly, in recent years Asian countries have been forking money in space plans, expanding revenue potential in the regional market.
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The Optical Satellite Communication market can be segmented as follows:
- Surveillance and Security
- Tracking and Monitoring
- Earth Observation
- Enterprise Connectivity
- Last mile access
- Research and Space Exploration
- North America
- The U.S.
- Rest of North America
- The U.K
- Rest of Europe
- Asia Pacific (APAC)
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- GCC Countries
- Rest of Middle East & Africa
- South America
- Rest of South America
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