Global Satellite as a Service Market is Segmented 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), By End Use Industry (Media & Entertainment, Government, Aviation, Defense, Transportation & Logistics, Energy & Utilities, Others), By Frequency Band (C Band, K/KU/KA Band, S & L Band, X & HTS Band, Others), By Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa). The report offers the value (in USD billion) for the above-mentioned segments.
Market Size in USD Bn
CAGR34.3%
Study Period | 2023 - 2030 |
Base Year of Estimation | 2022 |
CAGR | 34.3% |
Fastest Growing Market | Asia Pacific |
Largest Market | North America |
Market Concentration | High |
Major Players | SES, Intelsat, Eutelsat, Telesat, SKY Perfect JSAT and Among Others. |
The Global Satellite as a Service Market size is expected to be valued at US$ 2.82 billion in 2023 and is expected to reach US$ 22.22 billion by 2030, grow at a compound annual growth rate (CAGR) of 34.3% from 2023 to 2030.
Satellite as a Service Market Analysis
Satellite as a service refers to a business model where satellite operators provide services like broadband connectivity, direct-to-home television, backhaul and trunking solutions to end users on a pay-as-you-go basis. The key advantages of this model are reduced upfront capital expenditure, flexibility, and scalability for the end users. The growth of this market can be attributed to factors like declining satellite bandwidth prices, rising penetration of mobile devices, and increased adoption in the enterprise sector.
Key drivers include Declining Satellite Bandwidth Prices, Rising Demand for Satellite Services from Mobility Sector, Uptake from Enterprise and Government Sectors, Advantages over Terrestrial Networks. The Satellite as a Service Market is segmented by orbit type, solution, end-use industry, frequency band and region. By orbit type, the market is segmented into LEO, MEO, GEO, elliptical and others. The LEO segment is expected to grow at the highest rate during the forecast period owing to the rising deployment of LEO satellites for applications like IoT connectivity.
Figure 1. Global Satellite as a Service Market Share (%), By Orbit Type, 2023
Satellite as a Service Market Segment Level Analysis:
The Global Satellite as a Service Market is segmented by Orbit Type, into LEO, MEO, GEO, Elliptical and Others. LEO segment dominate the market. LEO is seeing growing demand due to the miniaturization of satellite components which has made smaller, lower-cost satellites viable. This has boosted the demand for situational awareness, disaster management and connectivity services that require frequent revisits over locations.
Satellite as a Service Market Regional Insights:
Figure 2. Global Satellite as a Service Market Share (%), By Region, 2023
SES, Intelsat, Eutelsat, Telesat, SKY Perfect JSAT, SingTel, Optus, Star One, Arabsat, Hispasat.
Global Satellite as a Service Market
The Global Satellite as a Service Market refers to the comprehensive ecosystem where satellites are used to provide various services such as communication, earth observation, navigation, and others. These services are offered on a subscription basis, similar to other 'as a service' models, allowing businesses to leverage satellite technology without the need for significant upfront investment in infrastructure. The market has been witnessing significant growth due to the increasing demand for cost-effective and efficient satellite services across various sectors such as defense, agriculture, logistics, and telecommunications..
However, the market faces challenges such as regulatory issues related to the launch and operation of satellites, and the risk of space debris. Despite these challenges, the market is expected to witness significant growth in the coming years, driven by the increasing demand for satellite services and the advent of new technologies.
Despite these challenges, Global Satellite as a Service Market presents vast opportunities. Governments across the world are increasingly partnering with private companies for space exploration and satellite services. This presents an opportunity for Satellite as a Service providers to collaborate with government agencies and leverage their resources and capabilities.
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How big is Satellite as a Service Market?
The Satellite as a Service Market size is expected to be valued at US$ 2.82 billion in 2023.
What are the key factors hampering growth of the Satellite as a Service Market?
The regulatory environment and legal considerations related to copyright and intellectual property rights pose challenges for content creators and platforms alike.
What are the major factors driving the Satellite as a Service Market growth?
Declining satellite bandwidth prices, growing demand for UHDTV and HDTV, rising penetration of mobile devices, increased adoption in enterprise sector.
Which is the leading component segment in the Satellite as a Service Market?
The LEO orbit type segment is expected to lead the Satellite as a Service Market owing to rising deployment of LEO satellites.
Which are the major players operating in the Satellite as a Service Market?
SES, Intelsat, Eutelsat, Telesat, SKY Perfect JSAT, SingTel, Optus, Star One, Arabsat, Hispasat.
What will be the CAGR of Satellite as a Service Market?
The CAGR of Satellite as a Service Market is expected to be 34.3% from 2023-2030.