by The global satellite as a service market encompasses services provided using various types of commercial satellites orbiting the Earth. Key products and services offered through this model include managed services, connectivity services, hardware, and professional services. Satellite connectivity can provide seamless coverage over vast territories and oceans devoid of any terrestrial infrastructure. Leveraging this advantage, satellite connectivity supports various backhaul solutions, cellular backhaul, enterprise VSAT connectivity, and broadband access in remote and rural areas.
The Global Satellite As A Service Market Size Is Estimated To Be Valued At US$ 2.82 Bn In 2024 And Is Expected To Exhibit A CAGR Of 34% Over The Forecast Period 2024-2031.
Key Takeaways
Key players operating in the global satellite as a service market are SES, Intelsat, Eutelsat, Telesat, SKY Perfect JSAT, Singtel, Optus, Star One, Arabsat, And Hispasat. Ses, intelsat, and eutelsat currently dominate the market with their large constellations of geostationary communication satellites. With growing satellite connectivity demand worldwide, new players are also emerging in this sector. For instance, SpaceX’s Starlink and Amazon’s Project Kuiper projects aim to offer low-latency satellite broadband internet globally.
Secondly, the demand for satellite connectivity is growing rapidly driven by rising requirements for mobility applications like in-flight and maritime connectivity, disaster management, cellular backhaul, and rural connectivity. As more organizations adapt work-from-anywhere policies, the demand for robust satellite communication services is surging.
Moreover, key players are also expanding their global coverage through new satellite launches and partnerships. For instance, in 2024, SES plans to launch 7 new satellites enhancing coverage over Asia Pacific, the Middle East, and Africa. Eutelsat also aims to cover all of India through new satellite launches by 2025.
Market Key Trends
One of the major trends in the satellite as a service market is the rising adoption of cloud-based satellite solutions. The cloud disruption is driving satellite operators to offer network connectivity and managed services on a cloud platform. Adopting a cloud-based delivery model allows satellite operators to offer flexible, scalable, and cost-effective solutions to customers. It also helps in overcoming the constraints of satellite communications like high latency and intermittent connectivity through features like caching. Many leading satellite operators are collaborating with MSs like Amazon Web Services, Microsoft Azure, and Google Cloud to offer ‘Satellite as a Service’ on the cloud. This is expected to make satellite connectivity more accessible while fueling the growth of the overall market.
Porter’s Analysis
Threat Of New Entrants: The threat of new entrants is moderate as designing and launching satellites requires massive capital investments and established distribution networks.
Bargaining Power Of Buyers: The bargaining power of buyers is high as there are many established players providing similar satelliteaaS services. Buyers can negotiate on price and delivery terms.
Bargaining Power Of Suppliers: The bargaining power of suppliers is moderate as few manufacturers dominate satellite production and suppliers have the bargaining leverage of critical components and technologies.
Threat Of New Substitutes: The threat of new substitutes is low as satellite communication provides advantages over terrestrial networks for remote and wide-area connectivity that are difficult to substitute.
Competitive Rivalry: The competitive rivalry is high among established satellite operators providing global coverage and customised services.
Geographical regions
North America accounts for the largest share of the global satellite as a service market in terms of value. This is attributed to high demand for satellite connectivity from media, government, telecom, and enterprises sectors in the US and Canada.
The Asia Pacific region is projected to grow at the fastest CAGR during the forecast period. This is driven by increasing investments in satellite connectivity infrastructure to enable remote communications and internet access across India, China, Japan and other developing countries in the region.
What are the key data covered in this Global Satellite as a Service Market report?
:- Market CAGR throughout the predicted period
:- Comprehensive information on the aspects that will drive the Global Satellite as a Service Market’s growth between 2024 and 2031.
:- Accurate calculation of the size of the Global Satellite as a Service Market and its contribution to the market, with emphasis on the parent market
:- Realistic forecasts of future trends and changes in consumer behavior
:- Global Satellite as a Service Market Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa
:- A complete examination of the market’s competitive landscape, as well as extensive information on vendors
:- Detailed examination of the factors that will impede the expansion of Global Satellite as a Service Market vendors
FAQ’s
Q.1 What are the main factors influencing the Global Satellite as a Service market?
Q.2 Which companies are the major sources in this industry?
Q.3 What are the market’s opportunities, risks, and general structure?
Q.4 Which of the top Global Satellite as a Service Market companies compare in terms of sales, revenue, and prices?
Q.5 Which businesses serve as the Global Satellite as a Service market’s distributors, traders, and dealers?
Q.6 How are market types and applications and deals, revenue, and value explored?
Q.7 What does a business area’s assessment of agreements, income, and value implicate?
*Note:
- Source: CoherentMI, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
