Optical Satellite Communication Market Size & Share, by Application (Backhaul, Tracking & Monitoring, Last Mile Access, Earth Observation, Research & Space Exploration); Component (Receivers, Transmitters, Modulator) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2035

  • Report ID: 3870
  • Published Date: Aug 10, 2023
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2023 - 2035

Optical Satellite Communication Market size is expected to cross USD 8 Billion by the end of 2035, witnessing around 21% CAGR during the forecast period, i.e., 2023 – 2035. In the year 2022, the industry size of optical satellite communication was over USD 2 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.


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Optical Satellite Communication Market
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Optical Satellite Communication Market: Key Insights

Base Year

2022

Forecast Year

2023-2035

CAGR

~ 21%

Base Year Market Size (2022)

 ~ USD 2 Billion

Forecast Year Market Size (2035)

 ~ USD 8 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)

Optical Satellite Communication Sector: Growth Drivers and Challenges

Market-Growth-Drivers

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 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

  • Backhaul
  • Tracking & Monitoring
  • Last Mile Access
  • Earth Observation
  • Research & Space Exploration

   Component

  • Receivers
  • Transmitters
  • Modulator

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Optical 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 2035. 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.

Research Nester
Optical Satellite Communication Market Size
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Companies Dominating the Optical Satellite Communication Landscape

top-features-companies
    • 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

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, Hetal Singh


  • Report ID: 3870
  • Published Date: Aug 10, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Rising spending on advanced versatile communication technologies, and growing smart devices traffic are the major factors driving the market growth.

The market size of optical satellite communication is anticipated to attain a CAGR of 21% over the forecast period, i.e., 2023 – 2035.

The major players in the market are ATLAS Space Operations, Inc., BridgeSat Inc., Hisdesat Servicious Estrategicos S. A., Maxar Technologies Ltd., Mitsubishi Electric Corporation, SITAEL S.p.A., Ball Aerospace & Technologies Corp., Laser Light Communications Inc., and others.

The backhaul segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.

The market in the North America region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.
Optical Satellite Communication Market Report Scope
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