May 24, 2024
Satellite As A Service Market

The Global Satellite As A Service Market Driven By Increased Investment In Satellite Communication Technology

The satellite as a service market provides satellite-based communication services to end-users through satellites in Earth’s orbit. Satellites in SaaS enable subscribers to access wireless communication and broadcast services such as television, radio, wireless communication, GPS navigation, and weather monitoring. The global market relies heavily on satellites to provide television and radio broadcast coverage in remote areas where terrestrial communication infrastructure does not exist or is inefficient. Satellite communication also provides network connectivity and data transfer services for maritime and aeronautical transportation.

The global Satellite as a Service Market is estimated to be valued at US$ 2.82 billion in 2024 and is expected to exhibit a CAGR of 34.% over the forecast period 2023 – 2030, as highlighted in a new report published by CoherentMI.

Market Key Trends:

There has been a significant rise in demand for low-cost and reliable broadband connectivity across the globe driving investment and innovation in broadband satellite communication technology. Companies are manufacturing and launching new generation satellites equipped with sophisticated digital video and data transmission payloads and antenna technology to provide high-speed broadband access even in geographically isolated and difficult to access regions. The highly competitive SaaS market also encourages operators to devise affordable subscription and pricing plans to attract more customers. For example, SpaceX’s Starlink and Amazon’s Project Kuiper plans to deliver low-cost consumer satellite internet access using networks of low earth orbit satellites which is expected to broaden the appeal of satellite connectivity and communication services to retail residential users.

Porter’s Analysis:

Threat of new entrants: High investment costs for infrastructure and regulatory requirements make it difficult for new companies to enter the market.

Bargaining power of buyers: Large organizations have strong bargaining power due to the volume of services they require.

Bargaining power of suppliers: Established satellite operators have significant bargaining power over smaller service providers dependent on their infrastructure and technology.

Threat of new substitutes: Emerging technologies like high-altitude platforms and 5G could provide substitutes but lack capabilities of satellite infrastructure.

Competitive rivalry: The market has few major players controlling majority share resulting in high competition.

Global Satellite as a Service Market Segmentation:

  • By Orbit Type
    • LEO
    • MEO
    • GEO
    • Elliptical
    • Others
  • By Solution
    • Satellite TV Service
    • Satellite Fixed Voice Solutions
    • Satellite Mobile Voice Solutions
    • Satellite Internet/VSAT Service
    • Satellite Radio Service
    • Satellite Backhaul & Trunking
    • Others (Inflight Connectivity, M2M, IoT etc)
  • By End Use Industry
    • Media & Entertainment
    • Government
    • Aviation
    • Defense
    • Transportation & Logistics
    • Energy & Utilities
    • Others (Enterprises, Retail, Mining etc)
  • By Frequency Band
    • C Band
    • K/KU/KA Band
    • S & L Band
    • X & HTS Band
    • Others

Key Takeaways:

The global Satellite As A Service Market Size is expected to witness high growth. The global Satellite as a Service Market is estimated to be valued at US$ 2.82 billion in 2024 and is expected to exhibit a CAGR of 34.% over the forecast period 2023 – 2030.

North America is currently the largest as well as the fastest growing regional market due to strong technology adoption. European and Asia Pacific markets are also growing significantly due to increasing demand for connectivity services from various industries.

Key players operating in the global Satellite as a Service market are SES, Intelsat, Eutelsat, Telesat, SKY Perfect JSAT, and SingTel. SES is one of the leading players dominating the market. Intelsat and Eutelsat also have strong presence globally. New space companies like Telesat are growing rapidly to provide innovative space based solutions.

1.Source: CoherentMI, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it