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The global satellite communication market is expected to experience substantial growth, with a projected size of USD 159.60 billion by 2030. The market is estimated to expand at a compound annual growth rate (CAGR) of 9.7% from 2023 to 2030.

The surge in demand for satellite broadband services, especially in remote and underserved areas, is driving the growth of the market. Satellite communication, also known as SATCOM, plays a crucial role in bridging the connectivity gap by providing high-speed internet, voice services, and multimedia applications to businesses, governments, and communities.

Integration of satellite communication with emerging technologies like 5G networks and IoT is also contributing to market growth. This convergence opens up new opportunities for advanced applications, smart city initiatives, and transformative connectivity solutions. To meet the evolving requirements, satellite communication solution providers are forming partnerships and developing advanced systems.

The COVID-19 pandemic has moderately impacted the satellite communication industry. The widespread adoption of remote work and telecommuting highlighted the importance of reliable connectivity, which satellite communication ensured. It allowed remote workers to stay connected regardless of their location.

In 2022, the services segment dominated the market, driven by the expansion of the media and entertainment sectors worldwide and the popularity of satellite television in emerging economies. The broadcasting segment was the largest in 2022 due to the increasing need for satellite communication in pay TV and radio applications.

The government & defense segment is projected to grow at the highest CAGR during the forecast period. This growth is fueled by a focus on secure and resilient satellite communication solutions to meet the evolving requirements of government agencies and defense organizations.

North America dominated the market in 2022, primarily due to the increasing demand for satellite broadband services in remote and inaccessible areas.

Overall, the satellite communication market presents significant opportunities for expansion, driven by the demand for broadband access, technological advancements, and the integration of satellite communication with emerging technologies.

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