ALBANY, New York, July 2, 2020
- Demand for High Data Rate for 5G Deployment Spurs Investments in Optical Satellite Communication Market; Need for High-capacity Next-generation Communication for Consumer Markets Drive Growth in the optical satellite communication market
- Players in North America, Europe, and Asia Pacific will Tap into the Revenue Potential of US$ 4,238.7 Mn by 2027-end
ALBANY, New York, July 2, 2020 /PRNewswire/ -- Strides in optical satellite communication technologies endow an array of benefits to users in wireless networks, including access to gigabit capacity backhaul links. The drive for M2M communication and Internet of Things (IoT) has opened new avenues in the optical satellite communication technology.
The revenues of global optical satellite communication market stood at US$ 297.2 million in 2017 and are expected to touch worth of US$ 4,238.7 million in 2027. This represents robust CAGR of 31.5% from 2019 to 2027 during the forecast period.
Advantages over conventional RF technologies will drive the demand for optical satellite communication in deploying 5G networks and next-gen backhaul capacity networks for various wireless application. Among the various applications, the backhaul segment is expected to expand at the leading CAGR during the period.
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Key Findings of Optical Satellite Communication Market Report
Explore 192 pages of top-notch research, incisive insights, and detailed country-level projections. Gain business intelligence on Optical Satellite Communication Market (Component – Transmitter, Receiver, Modulator, Demodulator; Application - Backhaul, Surveillance and Security, Tracking and Monitoring, Earth Observation, Enterprise Connectivity, Last Mile Access, Research and Space Exploration, Telecommunication) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 – 2027 at https://www.transparencymarketresearch.com/optical-satellite-communication-market.html
Optical Satellite Communication Market: Key Driving Factors and Promising Avenues
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Global Optical Satellite Communication Market: Regional Landscape
North America is expected to hold the leading position in optical satellite communication market. The regional market is expected to maintain its status quo in near future.
Meanwhile, Asia Pacific and Europe are proving to be substantially lucrative markets in recent years. Governments in these regions have upped their ante in optical communication projects, particularly for next generation (5G) network. Particularly, in recent years Asian countries have been forking money in space plans, expanding revenue potential in the regional market.
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The Optical Satellite Communication market can be segmented as follows:
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