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According to a new report, the global satellite communication (SATCOM) market is projected to reach a size of USD 159.60 billion by 2030. This represents a significant growth rate of 9.7% during the period from 2023 to 2030. The driving force behind this expansion is the increasing demand for satellite broadband services, especially in remote and underserved areas.

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. This trend presents ample opportunities for satellite communication providers to extend their services to a larger customer base.

The integration of satellite communication with emerging technologies like 5G networks and Internet of Things (IoT) is also contributing to market growth. This convergence opens up new avenues for advanced applications, smart city initiatives, and transformative connectivity solutions. Satellite communication is a critical enabler, offering wide-area coverage and connecting remote and challenging environments.

The COVID-19 pandemic has had a moderate impact on the satellite communication industry. One of the key effects has been the widespread adoption of remote work and telecommuting, highlighting the importance of reliable and resilient connectivity. Satellite communication has played a crucial role in ensuring uninterrupted communication and data transmission for remote workers.

The report also highlights the dominance of the services segment in 2022, driven by the expansion of the media and entertainment sectors and the popularity of satellite television in emerging economies. The broadcasting segment held the largest market share in 2022, fueled by the increasing need for satellite communication in applications such as pay TV and radio.

North America emerged as the dominant region in 2022 due to the rising demand for satellite broadband services in remote and inaccessible areas.

Overall, the global satellite communication market is expected to experience significant growth in the coming years, driven by the increasing demand for connectivity solutions, integration with emerging technologies, and the need for reliable communication during remote work situations.

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