What Are The 5 Top Insights From The Satellite & Telecommunication Resellers Market Forecast 2024

December 28, 2023 by The Business Research Company

The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

As per The Business Research Company’s Satellite & Telecommunication Resellers Global Market Report 2024, the satellite & telecommunication resellers market is expected to show significant growth in the forecast period.

Strong Growth Trajectory: Market Overview

The satellite & telecommunication resellers market has witnessed robust growth, surging from $324.09 billion in 2023 to an estimated $341.22 billion in 2024, reflecting a compelling compound annual growth rate (CAGR) of 5.3%. This growth is attributed to several factors in the historic period, including the expanding global connectivity, increasing data consumption, emergence of new markets, government initiatives, and the impetus from space exploration.

Future Projections: A Strong Growth Continuum

The market is poised for sustained strong growth in the forecast period, projected to reach $432.54 billion in 2028 with a CAGR of 6.1%. The anticipated growth is underpinned by key drivers such as the expansion of low earth orbit (LEO) constellations, integration of 5G, heightened focus on cybersecurity, and the globalization of markets.

Key Trends Shaping the Landscape

3.1 Rise of Low Earth Orbit (LEO) Constellations

LEO constellations are set to reshape the satellite & telecommunication resellers market, offering enhanced connectivity and coverage.
The strategic deployment of satellites in low earth orbit enables quicker data transmission and improved communication capabilities.

3.2 Satellite Internet Services

The forecast period witnesses a surge in satellite internet services, responding to the increasing demand for reliable and widespread internet access.
Companies are investing in advanced satellite technologies to deliver high-speed internet services to remote and underserved regions.

3.3 IoT and M2M Connectivity

The proliferation of the Internet of Things (IoT) and Machine-to-Machine (M2M) communication is driving the satellite market.
Satellites play a crucial role in providing seamless connectivity for IoT devices and M2M applications across diverse industries.

3.4 Diversification of Service Offerings

Resellers are diversifying their service offerings to meet the evolving demands of a connected world.
Services include not only telecommunication reselling but also satellite telecommunications, catering to a broad spectrum of communication needs.

Impact of Digitization: Driving Wireless Technologies

4.1 Growing Impact of Digitization

Digitization, the conversion of information from analog to digital format, is a key driver for the use of wireless technologies and equipment.
The demand for wireless connectivity hardware, including routers, switches, and modems, is propelled by the digitization wave.

4.2 Societal and Industrial Value of DX

According to the World Economic Forum, the societal and industrial value of digitization (DX) could reach an impressive $100 trillion by 2025.
This highlights the far-reaching impact of digitization on various industries, including wireless technologies.

Industry Leaders: Major Players Shaping the Market

Notable companies in the satellite & telecommunication resellers market include Tata Consultancy Services Limited, Nippon Telegraph and Telephone Corporation, Telefonaktiebolaget LM Ericsson, Cisco Systems Inc., and Infosys Limited.
Other significant players include SES SA, Intelsat SA, Hughes Network Systems LLC, Eutelsat SA, Arqiva Limited, and Telesat Canada, among others.

View More On The Satellite & Telecommunication Resellers Market Report 2023 – https://www.thebusinessresearchcompany.com/report/satellite-telecommunication-resellers-global-market-report

Competitive Edge Through Satellite-Based Solutions

6.1 Satellite-Based Solutions Supporting Two-Way Messaging

Major companies are actively developing satellite-based solutions supporting two-way messaging for a competitive edge.
This technology enables bidirectional communication, enhancing data transmission capabilities via satellite connections.

6.2 Snapdragon Satellite by Qualcomm

Qualcomm Incorporated launched Snapdragon Satellite, the world’s first satellite-based two-way capable messaging solution for premium smartphones.
Utilizing the Iridium network with 66 low-Earth orbital satellites, Snapdragon Satellite provides pole-to-pole coverage, spanning the entire globe.

Market Segmentation: Navigating Types and Components

The satellite & telecommunication resellers market is segmented based on types, components, and end-use.

7.1 By Type:

Telecommunication Resellers
Satellite Telecommunications
Other Satellite & Telecommunication Resellers

7.2 By Component:

Equipment
Services

7.3 By End-Use:

Residential
Commercial

Regional Dominance: Western Europe Leading the Way

In 2023, Western Europe emerged as the largest region in the satellite & telecommunication resellers market, underscoring the region’s dominance in this evolving industry.

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The Satellite & Telecommunication Resellers Global Market Report 2023 provides an in-depth analysis on the satellite & telecommunication resellers market size, trends and drivers, opportunities, strategies, and companies analysis. The countries covered in the satellite & telecommunication resellers market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

View More Related Reports –

Telecom Global Market Report 2023

Satellites Global Market Report 2023

Broadcast Communications Equipment Global Market Report 2023

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