Optical Satellite Communication Market 2024- Global Leading Players, Industry Updates, Growth Factor and Future Investments by Forecast to 2027

Optical Satellite Communication Industry Market – Snapshot

Optical satellite communication and free space optical communication are wireless telecommunication networks that provide optical data signals at high bit-rate using free space as a mode of median for communication. The global optical satellite communication market generated revenue of US$ 297.2 Mn in 2017 and is expected to reach US$ 4,238.7 Mn in 2027 at a CAGR of 31.5% during the forecast period.

optical satellite communication market

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Various advantage of wireless communication such as lower deployment cost, easy construction of network topology, and flexible maintenance of operating networks have increased the number of mobile users globally. For instance, the number of smartphone users globally is expected to reach 6.7 billion by 2024 up from 4.3 billion in 2017. Hence, this increasing number of mobile phone users has increased the demand for high speed data transmission. Moreover, increasing multimedia services such as video-on-demand, audio-on-demand, and peer-to-peer have increased the need for high network bandwidth. In addition, increasing adoption of various advance technology such as machine to machine communication and Internet of Things also drives the demand for high data rate which has accelerated the optical satellite communication market globally.

On the basis of application, the backhaul segment is projected to expand with the highest CAGR during the forecast period. Demand for high data rate is increasing due to adoption of various advance technologies such as M2M communication, Internet of Things etc. which require gigabit capacity. For instance, by 2024, M2M communication devices are expected to reach 14.6 billion, up from 6.1 billion in 2017. Hence, this significant growth has led to the need for reconfigurable broadband communication networks with high data rates. Moreover, increase in mobile traffic has also enhanced the demand for more bandwidth and large number of backhaul connections. For instance, by 2024, smartphone users are expected to reach 6.7 billion, up from 4.3 billion in 2017.

In addition, development of next generation mobile network (5G) requires high data rate (high speed and bandwidth capacity) which drives the need for high capacity backhaul links. Optical satellite communication has the capability to provide gigabit capacity backhaul links due to its low cost and rapid development speed as compared to conventional backhaul technology such as RF. With the integration of ultra-short pulse (USP) laser, optical communication can provide up to 10 Gbps backhaul connection and with the help of advanced modulation, wireless backhaul can increase up to 100 Gbps which can fulfill the requirement of 5G cellular networks.

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The Asia Pacific optical satellite communication market is expected to grow with the highest CAGR during the forecast period. India, China, Japan, and Australia are some of the major countries which drive the market in this region. Numerous initiatives by various government agencies of countries in Asia Pacific is the key reason for the growth of the market in this region. For instance, in 2018, space agency ISRO (of India) and France based CNES collaborated for an earth observation mission for high resolution imaging capability in optical and microwave technology.

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