Optical Satellite Communication Market: Segmented: By Component (Receiver, Transmitter, Modulator, Demodulator, Others), By Application (Backhaul, Surveillance and Security, Tracking and Monitoring, Earth Observation, Enterprise Connectivity, Last Mile Access, Research and Space Exploration, Telecommunication, Others) By Laser Type (YAG Laser, Silex Laser, Microwave Laser, CO2 Laser, AIGaAs Laser Diode), And Region - Global Analysis of Market Size, Share & Trends For 2021-2022 And Forecasts To 2031
[ 170 + Pages Research Report ] Optical Satellite Communication Market to surpass USD 17.36 billion by 2031 from USD 3.08 billion in 2021 at a CAGR of 18.9% in the coming years, i.e., 2021-31.
Optical Satellite Communication is also known as Free-space optical communication which uses light propagating in free spaces like air, vacuum, and outer space to transmit data for computer networking or telecommunications. The technology can meet the surging demand for internet services by offering a high data rate and high-definition television services. Optical satellite communication can provide flexibility in networking and high-speed connectivity.
The Optical Satellite Communication market is expected to project a notable CAGR of 18.9% in 2031.
Due to the continued adoption and tremendous success of the internet, optical satellite communication is expected to be the most powerful connectivity tool in the internet society. The easy installation setup, high-speed internet, and advancement in technology services will boost the demand for optical satellite communication market.
Transmitter segment to grow with the highest CAGR during 2021-31
Based on components, the optical satellite communication market is classified into Receiver, Transmitter, Modulator, Demodulator, and Others. The transmitter segment is expected to grow with the highest CAGR during the forecast period. The transmitter can provide low interference, low power, and high security for optical wavelengths. Further, Expanding demand for high speed data transfer from satellite to ground will drive the growth of transmitter segment.
Backhaul segment to grow with the highest CAGR during 2021-31
Optical satellite communication market is fragmented by application into Backhaul, Surveillance and Security, Tracking and Monitoring, Earth Observation, Enterprise Connectivity, Last Mile Access, Research and Space Exploration, Telecommunication, and Others. During the forecast period, backhaul segment is expected to grow with the highest CAGR. Advancements in technology like machine-to-machine communication and Internet of things need gigabit capacity and thus the demand for high data rate is increasing. Rise in mobile traffic is also contributing to the growth of backhaul segment.
Increase in multimedia services and rising mobile phone users
The onset of digital era has paved the way of advancement in technology in the communication industry. Expanding telecommunication services require high speed internet accessibility and optical satellite communication can fulfill the requirements of the telecommunication industry. Also, escalating mobile phone users and multimedia services such as peer-to-peer service, audio-in-demand and video-in-demand require high system data transfer capacity. The massive increase in demand for rapid information transmission is projected to boost the growth of optical satellite communication market.
Rising public spending
With the current global scenario, every country wants to become digitalized and tech-savvy and without high-speed internet service, this goal is hard to achieve. For an advanced and transforming economy governments are spending highly on communication sector. As countries are moving towards digitalization, governments are highly skeptical of cyber security, data breach, and surveillance and therefore are increasing their expenditure on high-end reliable communication technologies. Thus, there will be a huge growth in the optical satellite communication market.
Lack of technical expertise, high costs and interference in connectivity
The cost of equipment and service via satellite communication is relatively higher and often is preferred when there is no reception for cellular network. Sometimes due to heavy rains there can be interference in the optical satellite communication. Lastly, lack of proper technical expertise of the satellite communication service hampers the growth of optical satellite communication market.
Optical Satellite Communication is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. North America is anticipated to hold the major share in the market during the forecast period. Increasing investments by both public and private players on space projects is a key factor driving the growth of optical satellite communication market. Additionally, increasing research and development and growing satellite broadcasting holds the Asia Pacific region a potential market for optical satellite communication.
Amidst the global health emergency in the wake of COVID-19, businesses were made to switch to digital modes because of the impositions of lockdown worldwide. There was surge in mobile phone users and multimedia services which had a positive impact on the optical satellite communication market as it provided uninterrupted services to remote areas with high network bandwidth. In the post-pandemic scenario there is a huge expectation of increasing investments which will boost the market growth for optical satellite communication.
Optical Satellite Communication Market is further segmented by region into:
Optical Satellite Communication Market Segments:
|Market size value in 2021||USD 3.08 billion|
|Revenue forecast in 2031||USD 17.36 billion|
|Growth Rate||CAGR of 18.9% from 2021 to 2031|
|Base year for estimation||2021|
|Quantitative units||Revenue in USD million and CAGR from 2021 to 2031|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Segments covered||Component, Application, Laser Type, and Region|
|Regional scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)|
|Key companies profiled||Analytical Space Inc., ATLAS Space Operations, Inc., BridgeSat Inc., Hisdesat Servicios Estrategicos S.A., Maxar Technologies Ltd., Mitsubishi Electric Corporation, SITAEL S.p.A, Ball Aerospace & Technologies Corp., Mynaric AG, Laser Light Communications Inc., and Other Prominent Players.|
Optical Satellite Communication market size was estimated at USD 3.08 billion in 2021 and is expected to reach USD 17.36 billion in 2031.
Optical Satellite Communication is also known as Free-space optical communication which uses light propagating in free spaces like air, vacuum, outer space to transmit data for computer networking or telecommunications.
Transmitter and backhaul segment accounted for the largest Optical Satellite Communication market share.
Key players in the Optical Satellite Communication market include Analytical Space Inc., ATLAS Space Operations, Inc., BridgeSat Inc., Hisdesat Servicios Estrategicos S.A., Maxar Technologies Ltd., Mitsubishi Electric Corporation, SITAEL S.p.A, Ball Aerospace & Technologies Corp., Mynaric AG, Laser Light Communications Inc., and Other Prominent Players.
Increase in multimedia services and rising mobile phone users and growing public spending are the major factors driving the Optical Satellite Communication market.
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