New Research Says Optical Satellite Communication Global Market to Reach $2.8-B by 2026

Dublin, Ireland, Aug. 6, 2019 — A new study from Markets and Research has estimated that the optical satellite communication global market account for US$ 291.32 million in 2017 and is expected to reach $2,861.89 million by 2026. This, Market and Research said, translates to a compounded annual growth rate (CAGR) of 28.9% during the forecast period.

The research firm attributed the market increase to usage of high network bandwidth, rise in the adoption of various advanced technology, and high growth in emerging countries. However, over-crowding of available bandwidth is restricting the market growth, says Markets and Research.

Based on Application, the backhaul segment has a significant growth during the forecast period due to the increasing adoption of various advanced technologies such as M2M communication, Internet of Things, etc. which require gigabit capacity. By Geography, the North America region is projected to grow at a considerable market share during the forecast period in terms of value. Countries such as the U.S. and Canada are expected to growth rates and market shares within the market of North America and high spending for space projects from government bodies of countries in this region.

Some of the key players profiled in the market include Analytical Space Inc., ATLAS Space Operations, Inc., Ball Aerospace & Technologies Corp., BridgeSat Inc., HisdesatServiciosEstrategicos S.A., Laser Light Communications Inc., Maxar Technologies Ltd., Mitsubishi Electric Corporation, Mynaric AG and SITAEL S.p.A.

The report analyzes the Global Optical Satellite Communication Market by: Laser Type, Transmission Medium, Component, Sales Channel, Application and by Geography. It also contains key developments and company profiles of major players.