SINGAPORE, July 26, 2023 /PRNewswire/ — The deployment of satellite constellations in Low Earth Orbit (LEO) for low-latency and high throughput network applications and extending terrestrial network (TN) coverage continues to drive the adoption of satellite services in the global telecommunications sector, which global technology intelligence firm ABI Research predicts will culminate in US$124.6 billion worth of annual service revenues from satellites by 2030.
“Satellite communications services have seen a new wave of enthusiasm and convergence with terrestrial networks looking to extend past their coverage zones and bridge the digital divide,” explains Andrew Cavalier, Satellite Communications Industry Analyst at ABI Research. “As we look ahead, we are witnessing a growing trend of operators leveraging software-defined satellites and multi-orbit solutions to meet the connectivity demands of the future.” In this way, market developments are trending to adopt satellite services like IoT, backhaul, commercial broadband, and NTN-Mobile, especially for connecting the unconnected and enhancing the telecom arsenal of any terrestrial CSP. Some of the most influential players in the growing satellite communications services space include SpaceX, OneWeb, SES S.A., Viasat/ Inmarsat, Intelsat, and Globalstar.
The market is increasingly focusing on new service segments such as NTN-Mobile applications. According to Cavalier, “The emergence of satellite-enabled mobile devices from major consumer smartphone manufacturers and chipset makers like Apple, Qualcomm, Motorola, MediaTek, Huawei, and ZTE indicates satellite communications services breaking into the mainstream consumer market.” ABI Research forecasts that the NTN-Mobile segment has the potential to reach a market value of around US$18 billion with up to 200 million connections by 2031.
Advancements in SatCom’s miniaturization of components and the decrease in launch costs have also benefited the Enterprise sector. These…