Optical Satellite Communication Market to Reach $8 Billion by 2035, Driven by Mobile Growth and 5G Network Expansion
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Global optical satellite communication market revenue to reach $8 billion by 2035, expanding at a 21% CAGR between 2023-2035.
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Rising worldwide mobile phone usage, increasing shifts from offline to online business, and growth of 5G networks expected to drive market growth.
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North America to account for largest market share due to R&D investments and government initiatives to improve communication technologies.
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Asia Pacific to witness highest CAGR of over forecast period due to increasing digital broadcasting and internet services.
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Key players include ATLAS Space Operations, BridgeSat, Hisdesat Servicious Estrategicos, Maxar Technologies, Mitsubishi Electric Corporation, among others.