Global Fixed Satellite Services Market Set to Grow
According to the “Fixed Satellite Services (FSS) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024” report, the market reached a value of $20.2 billion in 2018. Looking forward, the market to reach a value of US$ 25.7 billion by 2024, registering a CAGR of around 4 percent during 2019-2024. Fixed satellite services, also known as FSS, are radiocommunication services used between different earth stations. These satellite services use the Very Small Aperture Terminal (VSAT) technology for sending and receiving telephone calls and television signals for broadcasting. They offer low power output and have large dish-style antennas for better service reception.
On account of inflating income levels and rising sales of smartphones, high-speed internet has become one of the necessities for communication. As a result, the demand for broadband has increased significantly in recent years which, in turn, is impelling the growth of the global fixed satellite services market. Owing to a rise in the adoption of HDTV channels and emerging DTH TV platforms, there has been an escalation in the overall demand for fixed satellite services across the globe. Increasing expenditure on military satellite communication; telecom backhaul, content and broadcast delivery; and enterprise and broadband connectivity is anticipated to drive the demand for fixed satellite services during the forecast period. There has been a rise in the demand for high-throughput connectivity and corporate enterprise networks in the oil and gas industry. This has provided several growth opportunities to the major players operating in the global FSS market.
The report has also analyzed the competitive landscape of the market with some of the key players being Embratel Star One, Eutelsat Communications, Telesat Holdings, SKY Perfect JSAT Holdings, Thaicom Public Company, Nigerian Communications Satellites, Telenor Satellite Broadcasting, Singapore Telecommunications (Singtel), SES S.A, Arabsat, Hispasat, Intelsat, etc.