Optical Satellite Communication Market - Projected to Expand at a CAGR of 31.5%

Posted by RASHMI on May 13th, 2019

The optical satellite communication market report provides analysis for the period 2016–2027, wherein 2019 to 2027 is the forecast period and 2018 is the base year. The report covers all the major trends and technologies playing an influential role in the market’s growth over the forecast period.

It also highlights the market dynamics, which comprise drivers, restraints, and opportunities,for the analysis of market growth during the said period. The study provides a complete perspective on the evolution of the global optical satellite communication market throughout the above mentioned forecast period in terms of revenue (US$ Mn).

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 2022 up from 4.3 billion in 2017.

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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.