Shared satellite services market is anticipated to surge with an impressive CAGR during 2022-2030
The global shared satellite services market size was significantly robust in 2021 and is expected to register a revenue CAGR during the forecast period. Increasing adoption of high-definition ideo channels and Direct-To-Home (DTH) subscriptions coupled with a surge in demand for broadband and corporate enterprise networks at high speeds are key factors driving revenue growth of the global shared satellite services market. Demand for DTH services and number of subscribers have increased substantially in the last few years, owing to increasing adoption of smartphones, which has resulted in growing demand for high-speed satellite internet connectivity.
Revenue growth of the market is also driven by a rise in technological advancements digitally to help connect individuals, families, and groups residing in remote locations to get better access to communication systems. Moreover, there is an increasing demand for satellite-based services such as in-flight connectivity and maritime broadband services, growing demand for various security surveillance purposes, and rising investments by key players to develop innovative satellites globally. On 10 February 2022 for instance, Reliance Jio Infocomm’s announced that it has formed a satellite unit Jio Satellite Communications Ltd (JSCL), and has applied to the Department of Telecommunications for a Global Mobile Personal Communication by Satellite (GMPCS) license. The license will allow the organization to compete globally with Bharti Airtel group, which is backed by One Web, Starlink, Amazon’s Project Kuiper, and Tata Telesat
The report elaborates on various national and international business development prospects and explains the competitive landscape of the global Shared Satellite Services market. The market size estimation and forecasts have been detailed in this report. The authors have studied the historical background of the Shared Satellite Services market, keeping in mind the organic and inorganic growth prospects and threats for the market. Thus, the latest report offers precise estimates of the global market size for the forecast period. EIN Newswires