Global Optical Satellite Communication Market to Witness Growth by a CAGR of ~31% throughout 2022 – 2031
Research Nester published a report titled “Optical Satellite Communication Market: Global Demand Analysis & Opportunity Outlook 2031”
Research Nester published a report titled “Optical Satellite Communication Market: Global Demand Analysis & Opportunity Outlook 2031” which delivers detailed overview of theglobaloptical satellite communication market in terms of market segmentation by component, application, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global optical satellite communication market is estimated to occupy a sizeable revenue by growing at a CAGR of ~31% during the forecast period, i.e., 2022 – 2031, ascribing to the rising telecommunication traffic, coupled with increasing number of users of smartphones across the globe. Along with these, growing public spending on sophisticated versatile communication technologies, and surge in the number of multimedia services, such as peer-to-peer video-on-demand and audio-on-demand, are also expected to accelerate the growth of the market in the forthcoming years.
The market is segmented by component and application. Based on component, the transmitters segment is anticipated to acquire the largest share during the forecast period on the back of the ability of these devices to offer low-power, low interference, and high security for optical wavelengths. Additionally, by application, the backhaul segment is projected observe robust growth over the forecast period attributing to the growing demand for high data rates as a result from adoption of M2M communication and IoT technologies, which in turn is anticipated to raise the need for establishing backhaul connections.
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Geographically, the global optical satellite communication market is segmented into five major regions, namely North America, Europe, Latin America, Asia Pacific, and the Middle East & Africa. Asia Pacific is evaluated to witness noteworthy growth in the market during the forecast period, which can be attributed to the surging number of digital satellite broadcasting and internet services in the region. Moreover, the market in North America is assessed to acquire the largest share over the forecast period ascribing to the high R&D investments to develop improve optical satellite communication technologies, and strong presence of market players in the region.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
Increasing Telecommunication Traffic Across the World to Bolster Market Growth
Over the last two decades, the usage of mobile phones, especially smartphones have witnessed a notable hike. As a result, the telecommunication traffic has also increased, the demand for high data rates is also rising. This in turn is predicted to raise the requirement for implementation of optical satellite communication technologies as they can offer increased data rates at lesser power.
However, high deployment cost of optical satellite communication technologies is expected to operate as key restraint to the growth of the global optical satellite communication market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global optical satellite communication market which includes company profiling of Mynaric AG, Analytical Space Inc., ATLAS Space Operations, Inc., BridgeSat Inc., Hisdesat Servicios Estrategicos S.A., Maxar Technologies Ltd., Mitsubishi Electric Corporation, SITAEL S.p.A, Ball Aerospace & Technologies Corp., Laser Light Communications Inc., and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global optical satellite communication market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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