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The satellite services market accounted for a revenue of 6.5 billion in 2018 and is projected to reach 4.5 billion by 2026, growing at a CAGR of 2.2% from 2019 to 2026. The market is being driven by an increase in demand for earth-observing applications in developed regions like North America and Europe.

There is also a high demand for satellite services in the commercial aviation sector for air traffic management. However, there has been a decrease in demand for satellite television services in the U.S., which is hindering market growth. In the Middle East and Asia, there is less penetration of high definition channels, but it is expected to increase in the future, leading to considerable growth in the consumer services segment.

The satellite services market is segmented based on type, end-user industry, and region. The types of satellite services include consumer services, fixed satellite services, mobile satellite services, remote sensing, and space flight management services. The market is categorized into various end-user industries such as media & entertainment, government, aviation, defense, aerospace, retail & enterprise, and others.

Asia-Pacific is expected to experience the fastest growth rate in the satellite services market. Countries in this region, including China, Japan, South Korea, and India, are aiming to improve their connectivity, leading to increased demand for satellite broadband and fixed satellite services.

Key players in the satellite services market include Inmarsat plc, Intersputnik, MEASAT, PCCW Global, Intelsat, SES S.A., Eutelsat Communications SA, Viasat, Inc., Echostar Corporation, China Satellite Communications Co., Ltd. (China Satcom), Thuraya Telecommunications Company, and Asia Satellite Telecommunications Co. Ltd. Other players in the value chain of the global market include Vista, Spacecom International, Thaicom Public Company Limited, and others.

In conclusion, the satellite services market is expected to grow due to the increasing demand for earth-observing applications and connectivity improvements in various regions.

The post Satellite Services Market: Global Opportunity Analysis and Industry Forecast, 2019-2026 appeared first on ISP Today.