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Global Fixed Satellite Services (FSS) Market to Reach US$ 25.7 Billion by 2024, Influenced by Rising Requirement of High-Speed Internet

According to the latest report by IMARC Group, titled “Fixed Satellite Services (FSS) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the global fixed satellite services market size reached US$ 20.2 Billion in 2018. Fixed satellite service (FSS) refers to a radiocommunication service that utilizes radio frequencies to communicate between earth stations. These services use ground equipment at predetermined locations to receive and transmit signals. The stations use Very Small Aperture Terminal (VSAT) technology for providing high-speed communication and are used for various services, including telephone calls and television signals for broadcasting. The FSS has a low power output and comprises large dish-style antennas for improved reception. These services provide high-speed internet services and offer reliable and affordable connectivity to meet the requirements of the users, especially while traveling. Owing to the aforementioned advantages associated with FSS, it is increasingly replacing direct broadcasting satellites (DBS) across the globe.          

Global Fixed Satellite Services (FSS) Market Trends:

The global market is primarily driven by the escalating demand for high-speed internet connections. Rapid urbanization, improving living standards and increasing per capita income levels have resulted in an increased uptake of smartphones and personal computers, which require efficient broadband connectivity for optimum usage. This is providing a significant thrust to the market for FSS across the globe. Additionally, the increasing adoption rates of 5G technology are also projected to create a positive outlook for the market since FSS is widely utilized for establishing a 5G connection. Other factors, such as governmental investments for improving the information technology (IT) infrastructure and military satellite communication, along with the rising demand for HDTV channels, are anticipated to provide a stimulus to the market growth. On account of the aforementioned factors, the market is expected to reach a value of US$ 25.7 Billion by 2024, registering a CAGR of around 4% during 2019-2024.

Market Summary:

  • On the basis of the service, the market has been divided into TV channel broadcast, telecom backhaul, broadband services, content and video distribution and military satellite communication.
  • Based on the organization size, the market has been categorized into small offices and home offices (SOHO), small and medium businesses (SMB) and large enterprises.
  • On the basis of the end user, the market has been classified into media and entertainment, education, government, IT and communications, retail, oil and gas, aerospace and defense, and others.
  • On the geographical front, the market has been segregated into Asia Pacific, Europe, North America, Middle East and Africa, and Latin America.
  • The competitive landscape of the market has been analyzed in the report with the detailed profiles of the key players operating in the market. Some of these players include Embratel Star One, Eutelsat Communications S.A., Telesat, SKY Perfect JSAT Corporation, Thaicom Public Company Limited, NIGCOMSAT LTD, Telenor Satellite AS, Singtel Group, SES S.A., Arabsat, HISPASAT S.A., and Intelsat Corporation.

 

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