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According to the latest report by IMARC Group, titled “Fixed Satellite Services (FSS) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global fixed satellite services market size reached US$ 22.8 Billion in 2021. 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.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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$ 30.4 Billion by 2027, registering a CAGR of 5% during 2022-2027.
Market Summary:
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