Global Market Size, Forecast, and Trend Highlights Over 2025 – 2037
Optical Satellite Communication Market size was valued at USD 2.93 billion in 2024 and is projected to exceed USD 36.61 billion by the end of 2037, expanding at over 21.2% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of optical satellite communication is evaluated at USD 3.43 billion.
The growth of the market can be impelled by the rising worldwide use of mobile phones. In 2020, the global usage of mobile phones reached 6.2 billion users, and it is projected to exceed 7 billion in 2023.
The industry is expected to grow over the coming years due to increasing demand for more extensive network bandwidth. In addition, market expansion throughout the period foreseen is projected to be possible as a consequence of increasing shifts in business from offline to online. During the COVID-19 outbreak, over 40% of U.S. workers were working in a remote capacity.
Optical Satellite Communication Sector: Growth Drivers and Challenges
Growth Drivers
- Population Urbanisation Growing- The industry is likely to expand further over the coming years as a result of better living conditions and more urbanisation. Moreover, optical satellite communication market development is anticipated to be supported by urban residents who work in sectors where services such as security and better connectivity are needed. By the end of 2050, urban development will have reached 80% in developed countries and 60% in emerging economies.
- Accelerating Use of Several Technologies for Optical Satellite Communication - The market is projected to grow more quickly over the forecast period, given that cutting-edge technology has been rapidly adopted as a form of Internet of Things solutions for optical satellite communications. By the end of 2025, it is estimated that 25 billion connected IoT devices will be in place around the world.
- Rising 5G Technology Emergence – It is foreseen that, in order to stimulate optical satellite communication market development, the need of advanced and fast telecommunications services will increase internationally. According to statistics, 5G technologies are expected to be used by one-third of the world's population. Furthermore, in 2022, 1 billion people will be using 5G Internet all over the world.
Challenges
- High Cost of Optical Satellite Communication Technologies Deployment- The cost to deploy optical satellite technology is high, which also raises the pay of technicians who install it. The market is also expected to grow at a slower rate because of the use of cutting-edge technologies for enhancing optical communication.
- Lack of technical expertise
- The delays in time result in a reduction in productivity
Optical Satellite Communication Market: Key Insights
|
Base Year |
2024 |
|
Forecast Year |
2025-2037 |
|
CAGR |
21.2% |
|
Base Year Market Size (2024) |
USD 2.93 billion |
|
Forecast Year Market Size (2037) |
USD 36.61 billion |
|
Regional Scope |
|
Optical Satellite Communication Segmentation
Application (Backhaul, Tracking & Monitoring, Last Mile Access, Earth Observation, Research & Space Exploration
The backhaul segment is anticipated to witness robust growth in the global optical satellite communication market with a 28% revenue share. This could be due, in particular, to technologies such as M2M communication and the Internet of Things that are predicted to have a greater demand for backhaul connections. Furthermore, it is anticipated that the market segment's growth will be supported by an increase in cell phone traffic.
Component (Receivers, Transmitters, Modulator)
The transmitters segment is expected to hold 45% share of the global optical satellite communication market during the forecast period. That's because optical satellite transmitters are capable of delivering light wavelengths with low power, negligible interference and a high degree of security. By 2020, there will be more than 8 million connections between machines in the world.
Our in-depth analysis of the global market includes the following segments:
|
Application |
|
|
Component |
|
Want to customize this research report as per your requirements? Our research team will cover the information you require to help you take effective business decisions.
Customize this ReportOptical Satellite Communication Industry - Regional Synopsis
North American Market Forecast
North America optical satellite communication market is projected to hold the largest revenue share of 30% by the end of 2037. A big contributor to market expansion is government initiatives for the development of communications technologies, which are gaining momentum and have been expected to further accelerate growth in this area over the coming years. Furthermore, the market is expected to lead during the forecast period in North America due to substantial research and development expenditure for new optical satellite communication technologies as well as an established presence within that region.
APAC Market Statistics
Asia Pacific region is expected to have 25% of the optical satellite communication market share during the forecast period. In this area, the industry expansion is largely due to the addition of Internet and Digital Satellite TV services. According to the Bank's estimates, in 2019 35.3% of South Asia's total population are accessing the Internet, up from 17.08% in 2017 and 18.78% in 2018.
Companies Dominating the Optical Satellite Communication Landscape
- Mynaric AG
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Analytical Space Inc.
- ATLAS Space Operations, Inc.
- BridgeSat Inc.
- Hisdesat Servicious Estrategicos S. A.
- Maxar Technologies Ltd.
- SITAEL S.p.A.
- Ball Aerospace & Technologies Corp.
- Laser Light Communications Inc.
In the News
- Mynaric released the next generation, scalable optical communications terminal called CONDOR MK3 for a variety of satellite applications.
- Analytical Space won a contract worth USD 26.4 million for developing and launching six cubesats and two hosted payloads to establish a fast network for optical communications.
Author Credits: Abhishek Verma
- Report ID: 3870
- Published Date: Oct 10, 2024
- Report Format: PDF, PPT
