Global Satellite Services Market Report 2022: Advent and Adoption of 5G Presents Lucrative Opportunities
DUBLIN, Sept. 23, 2022 /PRNewswire/ -- The "Satellite Services Market by Type (LEO, MEO, and GEO), Communications (Voice and Data), Solutions, Applications, Segments (Consumer, Enterprise, Industrial, and Government), and Industry Verticals 2022 - 2027" report has been added to ResearchAndMarkets.com's offering.
Select Report Findings:
The business drivers for satellite communications and applications are clear. Satellites provide coverage in areas where terrestrial wireless cannot. In fact, land-based wireless-only covers roughly 14% of the globe. Certain verticals, such as the maritime industry, require global coverage. This will be especially important as shipping begins to adopt autonomous transport as vessels will continue to require ship-to-shore communications as well as a new need for signaling with onboard ship sensors for navigation and ship controls.
The asset management industry also requires satellite systems for coverage in support of fleet tracking, supply chain management, and general asset tracking needs. The advent of advanced Internet of Things (IoT) solutions leveraging machine-to-machine communications and other supporting technologies enables anytime, anywhere, any tpe of asset tracking. Satellites provide seamless M2M communications for the IoT-based asset tracking market.
While GPS provides the bulk of this today, it is not the best solution for latency-sensitive applications and/or those that require high bandwidth. There is a market need for additional satellite types to provide bandwidth on demand, uninterrupted connectivity, and support for mission-critical operations that require ultra-reliable communications. This is similar to the business case for 5G in private networks such as industrial applications that are time-sensitive. While 5G is poised to dramatically increase terrestrial radiodensity, coverage is not a strong suit, and thus the need for satellites to fill in the holes. Satellites will also be an option for 5G backhaul.
Satellite services also provide coverage for business solutions that are often problematic and/or in remote areas such as mining operations, deep-water, and agriculture in third-world countries. Satellite services are also important in certain industries that require continuous network coverage such as oil & gas, transportation systems involving hybrid networks for autonomous vehicles, and other mission-critical services. In addition to providing continuous coverage in areas not practical by terrestrial systems, satellites may also provide continuous service in the event that terrestrial systems have a service outage.
One of the additional drivers for LEO vs. GEO is that there is a limited number of orbital slots available for GEO satellites. However, LEOs are not the perfect solution as there are concerns about plans from the likes of SpaceX, OneWeb, and even Amazon to collectively launch thousands of satellites into orbit rendering the earth's atmosphere a sea of machines. To partially deal with this issue SpaceX requested permission from the FCC to adjust the orbital spacing of its satellites to facilitate three orbital planes rather than one, which they claim will accelerate deployment by taking advantage of a wider service area.
Key Topics Covered:
1.0 Executive Summary
3.0 Satellite Services Industry
4.0 Satellite Services Case Study
5.0 Satellite Companies
6.0 Satellite Service Market Analysis and Forecasts 2022 - 2030
7.0 Satellites Market for 5G Applications and Services 2022 - 2027
8.0 Conclusions and Recommendations
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