Global Fixed Satellite Services Market Growth Analysis 2024 – Forecast Market Size And Key Factors Driving Growth

 Overview and Scope

Fixed satellite services refer to satellite communication services that provide a stable and reliable connection between fixed points on the Earth's surface. These services establish communication links between selected locations, such as homes, businesses, offices, and other fixed infrastructure.

Sizing and Forecast
The fixed satellite services market size has grown strongly in recent years. It will grow from $21.59 billion in 2023 to $22.96 billion in 2024 at a compound annual growth rate (CAGR) of 6.3%.  The  growth in the historic period can be attributed to growing demand for communication services, expansion of broadcasting services, geopolitical factors, increased demand for satellite backhaul, emergence of direct-to-home (dth) broadcasting.

The fixed satellite services market size is expected to see strong growth in the next few years. It will grow to $28.47 billion in 2028 at a compound annual growth rate (CAGR) of 5.5%.  The growth in the forecast period can be attributed to increasing demand for high-throughput satellites (hts), expansion of satellite broadband services, rising demand for mobility solutions, growth in remote sensing applications, development of small satellite constellations, government investments in satellite infrastructure. Major trends in the forecast period include adoption of software-defined satellite technology, rise of satellite-as-a-service models, integration of artificial intelligence in satellite systems, focus on sustainable satellite manufacturing, emergence of high-frequency satellite bands.

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Segmentation & Regional Insights
The fixed satellite services market covered in this report is segmented –
1) By Service Type: Channel Broadcast, Wholesale, Audiovisual Contribution And Distribution, Broadband And Enterprise Network, Backhaul Services, Managed Services, Other Service Types
2) By Organization Size: Small Office And Home Office, Small And Medium Businesses, Large Enterprises
3) By Industry Vertical: Government, Education, Aerospace & Defense, Retail, Oil And Gas, Telecom And Information Technology, Media And Entertainment, Other Industry Verticals

North America was the largest region in the fixed satellite services market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the fixed satellite services  market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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Major Driver Impacting Market Growth
The increasing penetration of 5G is expected to propel the growth of the fixed satellite services market going forward. 5G refers to a mobile network that is of the fifth generation. The rollout of 5G networks boosts demand for fixed satellite services by enabling faster and more dependable connectivity in urban and rural areas, driving up the need for backhaul solutions to connect 5G base stations with central networks, and encouraging the expansion of satellite-based broadband services to close the digital divide. For instance, in May 2023, according to Telefonaktiebolaget LM Ericsson, a Sweden-based telecommunications company, 5G mobile subscriptions increased from 0.54 billion in 2021 to 0.951 billion in 2022. Furthermore, it is expected that in 2028, 4.624 billion 5G mobile subscriptions will be in place, up from 1.481 billion in 2023. Therefore, the increasing 5G penetration drives the fixed satellite services market.

Key Industry Players
Major companies operating in the fixed satellite services  market report are General Dynamics Corporation, Embratel, Cobham Limited, EchoStar Satellite Services LLC, Hughes Network Systems LLC, Singapore Telecommunications Limited, Intelsat S.A, SES SA, Inmarsat Global Limited, Eutelsat Communications S.A, Telesat Holdings Inc., Iridium Communications Inc., Telespazio S.p.A., Arqiva Ltd., Globecast, Hispasat SA, Globalstar Inc., Encompass Digital Media Inc., Arab Satellite Communications Organization, Thaicom Public Company Limited, Nigerian Communications Satellite Limited, ABS Global Ltd., Liquid Intelligent Technologies, Avanti Communications Group plc, Gazprom Space Systems, Russian Satellite Communications Company, MEASAT Global Bhd, Telstra Group Limited, Singapore Telecommunications Ltd. (Singtel), DU Emirates Integrated Telecommunications Corp.

The fixed satellite services market report table of contents includes:
1. Executive Summary

2. Fixed Satellite Services Market Characteristics

3. Fixed Satellite Services Market Trends And Strategies

4. Fixed Satellite Services Market - Macro Economic Scenario

5. Global Fixed Satellite Services Market Size and Growth

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32. Global Fixed Satellite Services Market Competitive Benchmarking

33. Global Fixed Satellite Services Market Competitive Dashboard

34. Key Mergers And Acquisitions In The Fixed Satellite Services Market

35. Fixed Satellite Services Market Future Outlook and Potential Analysis

36. Appendix

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