According to the research report published by Market Data Forecast, global Fixed Satellite Services (FSS) Market was valued at US$ 15.15 billion in 2021, and it is anticipated to reach US$ 24.02 billion by 2027 growing at a CAGR of 5.25%.
Fixed Satellite Services (FSS) uses Very Small Aperture Terminal (VSAT) technology to deliver high-speed connections to its end users. It is a radio-communication service between ground stations at a set point that may be fixed to a particular area. Data transmission from a ground fixed location station to the location of end users has become possible with the rise in transponder leasing agreements. This has been a critical driver of the global market for fixed satellite services. It has assisted service providers in reducing their market time for new services and in improving customer experience by offering real-time services.
The market for fixed satellite services has expanded dramatically during the past few years. As the sale of smartphones has increased along with income levels, high-speed internet has become a requirement for communication. Global demand for fixed satellite services has grown due to the expanding usage of HDTV channels and new DTH TV platforms.
Over the forecast period, increased 5G penetration is anticipated to fuel market growth. This is because 5G connections rely on fixed satellites to make connections; therefore, as customers increase their use of 5G connections, the market is anticipated to grow even further. EIN Presswire