Optical Satellite Communications Market Expected to Grow

Advances in optical satellite communication technologies offer a range of benefits to users of wireless networks, including access to gigabit capacity backhaul links. The development of M2M communication and the Internet of Things (IoT) has opened up new avenues in optical satellite communication technology.

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The global optical satellite communications market revenue was USD 297.2 million in 2017 and is projected to reach USD 4,238.7 million by 2027. This represents a robust CAGR of 31.5% from 2019 to 2027 during the forecast period.

The advantages over conventional RF technologies will drive the demand for optical satellite communication in the deployment of 5G networks and next-generation backhaul capacity networks for various wireless applications. Among the various applications, the backhaul segment is expected to grow at the main CAGR over the period.

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Key takeaways from the Optical Satellite Communication market report

Among the various components, the issuer segment dominated the market; it is expected to maintain its lead throughout the forecast period. The focus on satellite-to-ground applications fuels the segment’s revenue potential. The backhaul segment is expected to grow at the most attractive CAGR from 2019 to 2027.

Among various applications, surveillance and security hold major share of optical satellite communications market; he is expected to maintain his lead. Among the various regions, Asia-Pacific is expected to grow at the top CAGR from 2019 to 2027; Government initiatives to enhance wireless network capacity. North America is expected to hold a major share of the optical satellite communications market in 2017; the main revenue generators are the United States and Canada

Optical Satellite Communication Market: Drivers and Promising Leads

The opportunities in the optical satellite communications market have received a major boost from the large-scale adoption of wireless networks in the consumer and commercial markets.
The increase in the number of smartphone users in various parts of the world is a key trend driving investment in high-speed data transmission technologies.
According to one estimate, the number of smartphone users worldwide crossed the 2.7 billion mark in 2019. Sales of M2M communication devices in recent years in developing regions of the world have boosted opportunities for vendors in the optical satellite communications market.
Growing research in high-end backhaul connections has spurred the development of reconfigurable broadband communication networks.
The deployment of the next generation mobile network (5G) is on the cards for many economies looking to advance their internet and communication technologies. This has spurred investment from the governments of many countries to work collaboratively on satellite launch projects. An example is the recent NASA initiative.

Global Optical Satellite Communications Market: Regional Landscape

North America is expected to take the top spot in the optical satellite communications market. The regional market is expected to maintain its status quo in the near future.

Meanwhile, Asia-Pacific and Europe have proven to be considerably lucrative markets in recent years. Governments in these regions have upped the ante in optical communication projects, especially for the next-generation (5G) network. In particular, in recent years, Asian countries have invested money in space plans, thereby increasing the revenue potential in the regional market.

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The optical satellite communications market can be segmented as follows:

By component

Transmitter
Recipient
Modulator
Demodulator
Others

By app

Connection
Surveillance and security
Monitoring and surveillance
Earth Observation
Enterprise Connectivity
Last mile access
Space research and exploration
Telecommunication
Others

By geography

North America
United States
Canada
Rest of North America
Europe
Great Britain
Germany
France
Spain
The rest of Europe
Asia-Pacific (APAC)
India
China
Japan
Australia
Rest of Asia-Pacific
Middle East and Africa (MEA)
GCC countries
Rest of the Middle East and Africa
South America
Brazil
Rest of South America

More trend reports by Transparency Market Research –

Satellite Modem Market- https://www.transparencymarketresearch.com/satellite-modem-market.html

Satellite Payload Market- https://www.transparencymarketresearch.com/satellite-payloads-market.html

Satellite Communication Equipment Market- https://www.transparencymarketresearch.com/satellite-communication-equipment-market.html

Satellite IoT Market- https://www.transparencymarketresearch.com/satellite-iot-market.html

Mobile Satellite Services (MSS) Market- https://www.transparencymarketresearch.com/mobile-satellite-services-mss-market.html

Medium and large satellite market- https://www.transparencymarketresearch.com/medium-large-satellite-space-market.html

Satellite Sensor Market- https://www.transparencymarketresearch.com/satellite-sensor-market.html

Satellite Navigation System Receiver Market- https://www.transparencymarketresearch.com/navigation-satellite-system-receiver-market.html

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