by Satellite as a service (SaaS) products refer to solutions that are delivered via satellite connectivity and aimed towards serving various enterprise, government, and consumer needs. Such services typically include broadband access, data connectivity, and backhaul solutions for organizations operating in remote regions with limited terrestrial connectivity infrastructure. They provide high-speed broadband connectivity for underserved and unserved areas as well as for disaster recovery and emergency response situations.
The Global Satellite as a Service Market is estimated to be valued at US$ 2.82 Bn in 2024 and is expected to exhibit a CAGR of 34% over the forecast period 2024-2031.
Key Takeaways
Key players operating in the Global Satellite as a Service market are SES, Intelsat, Eutelsat, Telesat, SKY Perfect JSAT, SingTel, Optus, Star One, Arabsat, Hispasat.
The demand for Satellite as a Service connectivity is growing rapidly across diverse industries such as media & broadcasting, government, maritime, aviation and more. With increasing requirement for high-speed broadband in remote areas, satellite connectivity is playing a key role. Major players are also expanding their presence globally to tap the vast potential across emerging markets in Asia Pacific and Middle East & Africa.
Market Key Trends
Cost reduction through constellation deployment is one of the major trends being witnessed in the market. Satellite operators are now building large sets of low-earth orbit (LEO) satellites that can offer high-speed broadband access at competitive costs. For instance, SpaceX’s Starlink and Amazon’s Project Kuiper plan to deploy thousands of satellites to provide affordable satellite internet globally. This is expected to make satellite access much more economical and drive further demand over the coming years.
Porter’s Analysis
Threat Of New Entrants: Satellite manufacturing has very high initial costs making the threat of new entrants low. However, new players can provide services using the existing satellite infrastructure.
Bargaining Power Of Buyers: The bargaining power of buyers is moderate to high as buyers have alternatives like telecom companies. Some large buyers may negotiate better contracts putting pressure on prices.
Bargaining Power Of Suppliers: A few major satellite operators dominate the supply side making their bargaining power high. Dependence on satellite launches by specialized players like SpaceX also gives them bargaining power.
Threat Of New Substitutes: Substitute technologies that can provide connectivity like 5G networks pose a medium threat. However, satellites have advantages over terrestrial networks in covering remote areas.
Competitive Rivalry: The market has a few large global players however regional players operate as well increasing competition. Players differentiate based on coverage areas, technology, and pricing putting pressure on prices and profits.
Geographical Regions
North America accounts for the largest share of the market currently valued at around 35% due to high demand for connectivity services across industries.
The Asia Pacific region is poised to be the fastest growing market for satellite services growing at over 40% CAGR during the forecast period. This is due to rising infrastructure development and connectivity requirements in China, India and several Southeast Asian countries.
What Are The Key Data Covered In This Global Satellite as a Service Market Report?
:- Market CAGR throughout the predicted period
:- Comprehensive information on the aspects that will drive the Global Satellite as a Service’s growth between 2024 and 2031.
:- Accurate calculation of the size of the Global Satellite as a Service and its contribution to the market, with emphasis on the parent market
:- Realistic forecasts of future trends and changes in consumer behaviour
:- Global Satellite as a Service Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa
:- A complete examination of the market’s competitive landscape, as well as extensive information on vendors
:- Detailed examination of the factors that will impede the expansion of Global Satellite as a Service vendors
FAQ’s
Q.1 What are the main factors influencing the Global Satellite as a Service?
Q.2 Which companies are the major sources in this industry?
Q.3 What are the market’s opportunities, risks, and general structure?
Q.4 Which of the top Global Satellite as a Service companies compare in terms of sales, revenue, and prices?
Q.5 Which businesses serve as the Global Satellite as a Service’s distributors, traders, and dealers?
Q.6 How are market types and applications and deals, revenue, and value explored?
Q.7 What does a business area’s assessment of agreements, income, and value implicate?
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
About Author - Ravina Pandya
Ravina Pandya,a content writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemicals and materials, etc. With an MBA in E-commerce, she has expertise in SEO-optimized content that resonates with industry professionals. LinkedIn Profile
