by Satellite-as-a-service refers to delivering satellite capacity and bandwidth to customers as a utility based subscription service, rather than as a wholesale or individually tailored service. Key use cases include enterprise connectivity, consumer broadband, government, and mobility. For instance, satellite connectivity can provide broadband access to rural areas where terrestrial connectivity is limited or non-existent. It is also widely used for connecting aircraft, maritime vessels, and other mobile assets. The global satellite as a service market currently offers services like network operation, value-added, data analytics and other managed solutions using commercial satellite capacity.
The global Satellite as a Service Market is estimated to be valued at US$ 2.82 billion in 2023 and is expected to exhibit a CAGR of 34% over the forecast period 2023 – 2030, as highlighted in a new report published by CoherentMI.
Market Dynamics:
The growing demand for satellite connectivity services is expected to flourish the global satellite as a service market over the forecast period. As mentioned in the heading, the market is driven by growing connectivity needs of enterprises, governments, and consumers globally. Satellite connectivity helps fill gaps in terrestrial connectivity infrastructure, especially for remote and rural areas as well as for mobile assets like aircraft, ships and vehicles. Furthermore, new low earth orbit (LEO) satellite constellations are bringing down the costs of satellite connectivity, making it more affordable and attracting newer customer segments. For example, SpaceX’s Starlink is offering satellite internet services more affordably to consumers as well as enterprise customers globally. Such initiatives are expected to drive higher adoption of satellite connectivity solutions and services over the coming years.
Segment Analysis:
The global satellite as a service market is dominated by commercial satellite imagery sub-segment. The commercial satellite imagery sub-segment held around 35% share of the overall market in 2024. The growing adoption of satellite imagery data across various sectors such as agriculture, defense, energy etc. is driving the growth of this sub-segment. Satellite communication sub-segment is expected to witness fastest growth during the forecast period owing to rising demand for satellite communication from telecommunication sector.
Global Satellite as a Service Market Segmentation:
- By Orbit Type
- LEO
- MEO
- GEO
- Elliptical
- Others
- By Solution
- Satellite TV Service
- Satellite Fixed Voice Solutions
- Satellite Mobile Voice Solutions
- Satellite Internet/VSAT Service
- Satellite Radio Service
- Satellite Backhaul & Trunking
- Others (Inflight Connectivity, M2M, IoT etc)
- By End Use Industry
- Media & Entertainment
- Government
- Aviation
- Defense
- Transportation & Logistics
- Energy & Utilities
- Others (Enterprises, Retail, Mining etc)
- By Frequency Band
- C Band
- K/KU/KA Band
- S & L Band
- X & HTS Band
- Others
PEST Analysis:
Political: Regulations related to satellite launch and space debris management are influencing the market. Most countries have defined regulations for satellite launches and end-of-life management of satellites.
Economic: Growing GDP and economy is positively impacting the spending on satellite services. Developed regions including North America are major revenue generators for key players.
Social: Increasing connectivity needs and adoption of satellite imagery across sectors is fueling the market growth. Satellite communication is playing vital role in bridging connectivity gap.
Technological: Advancements in satellite miniaturization, electric propulsion and satellite constellation design are enabling cost efficient satellite services.
Key Takeaways:
The global Satellite As A Service Market Size is estimated to be valued at US$ 2.82 billion in 2023 and is expected to exhibit a CAGR of 34% over the forecast period 2023 – 2030.
Regional Analysis: North America dominates the global satellite as a service market attributed to large number of satellite service providers and growing adoption across sectors in the US. Asia Pacific is expected to witness fastest growth during the forecast period led by China, India and Japan.
Key Players: Key players operating in the global satellite as a service market are SES, Intelsat, Eutelsat, Telesat, SKY Perfect JSAT, SingTel, Optus, Star One, Arabsat, Hispasat. SES holds around 25% market share attributed to large satellite fleet and global customer base. Telesat is investing in LEO satellite constellation to provide low latency satellite connectivity globally.
*Note:
1.Source: CoherentMI, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it
