"The size of the global commercial broadband satellite market will more than double between last year and 2033, according to a new report by Market Research Intellect. The firm's projections says that the sector was valued at $13.5 billion in 2024 and will reach $29.8 billion by the end of the study period. The information sheet on the report, which labels the growth as "remarkable," said that the sector will experience a 9.8% compound annual growth rate (CAGR) between next year and 2033."
"Drivers, according to the firm, are rapid growth in the technology, increasing deployment of low Earth orbit (LEO) constellations, and growing need for services the industry offers. Additional drivers are integration with 5G and "innovation, large-scale satellite launches, mergers, acquisitions, and strategic partnerships across technology providers, aerospace companies, telecom operators, and government agencies." Industries especially interested in using commercial satellites are oil and gas, mining, marine transport, and agriculture, which use satellites to maintain seamless broadband communications, enhance safety, optimize logistics and support digital operations, the report says."
The global commercial broadband satellite market was valued at $13.5 billion in 2024 and is projected to reach $29.8 billion by 2033, implying a 9.8% compound annual growth rate. Growth drivers include low Earth orbit constellation deployment, 5G integration, technological innovation, large-scale satellite launches, mergers, and strategic partnerships across technology, aerospace, telecom, and government sectors. Commercial satellite services support oil and gas, mining, marine transport, and agriculture by maintaining broadband communications, enhancing safety, optimizing logistics, and enabling digital operations. Market participants include SpaceX (Starlink), OneWeb, Viasat, Hughes, Eutelsat, SES, Intelsat, Telesat, Gilat, and EchoStar; solutions span LEO, MEO, GEO, and hybrid multi-orbit connectivity.
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