The global small satellite services market is projected to grow from an estimated USD 14.88 Billion in 2017 to USD 53.22 Billion by 2022, at a CAGR of 29.03% during the forecast period. Key factors, such as increasing demand for earth observation and satellite broadband services, and satellite miniaturization technology are expected to fuel the growth of the small satellite services market.
Browse 86 market data Tables and 48 Figures spread through 180 Pages and in-depth TOC on "Small Satellite Services Market - Global Forecast to 2022"
The objective of this study is to analyze the small satellite service market, along with statistics from 2016 to 2022 as well as to define, describe, and forecast the small satellite services market, and map the segments and subsegments across major regions, namely, North America, Europe, Asia Pacific, and RoW. On the basis of platform, the small satellite service market has been segmented into CubeSat, Nanosatellite, Microsatellite, and Minisatellite. On the basis of vertical, the small satellite service market has been segmented into government & military, non-profit organizations, and commercial.
Based on platform, the minisatellite (101–500 kg) segment is estimated to account for the largest share of the small satellite services market in 2017 due to the increasing demand for services, such as remote sensing, disaster management, military intelligence, telecommunications, and other academic services globally.
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Based on vertical, the commercial segment is projected to lead the small satellite services market during the forecast period. Small satellites have computational and communication capabilities, along with competencies in making decisions about the time the particular data is required to be sent.
Regional Outlook
North America is estimated to account for the largest share of the small satellite services market in 2017
North America is estimated to lead the small satellite services market in 2017. Increasing interest in small satellites due to their low cost, advanced mechanics, and ease of assembly and launch has led to a rise in venture capital-backed funding for small satellites in the region and is thus leading to the increasing scope for satellite services. The small satellite services market in the North American region is expected to witness high growth during the forecast period.
Key Companies Outlook
Singapore Telecommunications Limited (Singapore), Eutelsat Communications S.A. (France), EchoStar Corporation (US), Inmarsat plc (UK), and Viasat, Inc. (US), among others, are the major players in the small satellite services market.
Singapore Telecommunications Limited (Singapore) is the leader in the small satellite services market considering its overall service offerings and business strategies. In terms of satellite services, it has adopted the organic growth strategy and has developed solutions to enhance voice and data connectivity, especially for enterprises. It has also made acquisitions through its subsidiary to strengthen data, analytics, and media buying capabilities.
Eutelsat Communications S.A. (France) was also one of the influential players in the market in 2016. The major strategy adopted by the company is to enhance its product portfolio by developing new technologies through robust investments in R&D. It constantly develops new solutions that address the rapidly evolving requirements of the satellite communications sector. In 2016, Eutelsat launched SmartBeam, the satellite solution for multiscreen TV delivery to smartphones and tablets.
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