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The Satcom Market Prepares for Expansion


The satcom
The Satcom Market Prepares for Expansion. Credit: Euroconsult

Ibadan, 27 September 2023 – The satcom landscape prepares for a transformative decade of growth as the market projects satellite capacity demand to surge from 3.6 Tbps (TeraBytes Per Second) in 2022 to 51 Tbps in 2032, representing a 31% CAGR (compound annual growth rate), with all data segments expected to observe exponential growth in the next 10 years.

Euroconsult’s latest ‘Satellite Connectivity & Video Market’ market intelligence report unveils three major growth prospects for the satcom industry: universal broadband access, mobility (including aero, maritime, and land mobility), and defense and security applications. Additionally, reports predict Satcom service revenues will rebound in 2023 following several years of negative growth, with revenues predicted to rise from $108 billion in 2023 to $123 billion by 2032.

Furthermore, the global satellite capacity supply is on the brink of a dramatic increase, with a 62% rise in 2022 alone, reaching 15 Tbps, primarily driven by Starlink. Anticipated to reach nearly 200 Tbps by 2028, this expansion coincides with the introduction of new non-geostationary orbit (NGSO) constellations, particularly in the low Earth orbit (LEO). Consequently, reports forecast the share of NGSO in the total supply to surge from 76% in 2022 to over 95% post-2026.

Dimitri Buchs, Managing Consultant at Euroconsult, stated, “The satcom industry finds itself in a dynamic phase following substantial investments in satellite infrastructure, presenting both fresh opportunities and heightened competition.”  Buchs further stated, “The forthcoming wave of new satellite infrastructure will herald a transformative era for satellite operators, necessitating strategies to recoup investments. This entails a focus on vertical integration to optimize costs and scale, coupled with value-added services that enhance proximity to customers and end-users, alongside a concerted drive toward emerging and high-growth market segments.

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