Market Research Report
Global Satellite Services Market: Analysis By Service Type (Fixed, Mobile, EO, Consumer Services), End Users, By Region, By Country (2021 Edition): Market Insights and Forecast with Impact of COVID-19 (2021-2026)
|Global Satellite Services Market: Analysis By Service Type (Fixed, Mobile, EO, Consumer Services), End Users, By Region, By Country (2021 Edition): Market Insights and Forecast with Impact of COVID-19 (2021-2026)|
Published: June 30, 2021
Content info: 220 Pages
Delivery time: 2-3 business days
The Global Satellite Services Market was valued at USD 131.25 Billion in the year 2020. The reasons attributing to the growth of the market are rapid digitalisation, increasing use of emerging consumer service industries in developing countries and rising demand for Satellite TV, Radio, Internet, Communication with high efficiency. Today, business drivers and political/social drivers, in combination with technological advancements, have greatly accelerated the expanded use of Satellite services beyond their traditional industries and traditional roles.
The Satellite Service Market is further expected to flourish with increasing government support for technical enhancement in Satellites across the globe. The growing acceptance of Satellite Services Market with services type (Consumer Services, Fixed Satellite, Mobile Satellite, Earth Observation) has substantially led to the increasing use of Satellite services Also, the growing demand for many end user industries can support satellite services market in helping consumers to attain more technological satisfaction with greater efficiency.
The extent of the impact of the COVID-19 pandemic on the business in fiscal year 2020 and beyond will depend on many factors, including the duration and scope of the public health emergency, the extent, duration and effectiveness of containment actions taken, the extent of its disruption to important global, regional and local supply chains and economic markets and the impact of the pandemic on overall supply and demand, consumer confidence, discretionary spending levels and levels of economic activity. NASA noted that economic and social shutdowns in response to the COVID-19 pandemic have led to noticeable changes in Earth's environment, at least for the short term.
The American regional market is expected to become the largest satellite services market in the forecast period. The major players operating in the American satellite services market include Global Eagle, Eutelsat, Lockheed Martin, EchoStar and many other companies. These players offer a diverse portfolio of satellite services to complete to the demands of consumers in the region. These companies are providing affordable, efficient, and with no delay satellite services for many people in rural and urban area. These players have also acquired and collaborated with other players in the region for portfolio expansion and geographic penetration.
As the world is continuously fighting the rapid spread of the COVID-19 pandemic, satellites are playing a very crucial role in helping to safeguard the people and in providing the services that people need as they are shifting towards remote working and home learning. Main areas of COVID-19 impact in the satellite industry have been interrupted supply chains and delayed deployments in some cases as well as a reduction of demand for Occasional Use services due to the postponement or cancellation of sports and other events.