Small Satellite Services Market worth 53.22 Billion USD by 2022

(IT-NEWSWIRE.COM, November 12, 2021 ) According to the new research report "Small Satellite Services Market by Platform (CubeSat, Nanosatellite, Microsatellite, Minisatellite), Vertical (Government & Military, Non-Profit Organizations, Commercial), Application (Remote Sensing, Communication), and Region - Global Forecast to 2022", The small satellite services market is projected to grow from an estimated USD 14.88 Billion in 2017 to USD 53.22 Billion by 2022, at a CAGR of 29.03% during the forecast period. Key factors, such as increasing demand for earth observation and satellite broadband services, and satellite miniaturization technology are expected to fuel the growth of the small satellite services market.

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Based on platform, the minisatellite (101-500kg) segment is expected to lead the small satellite services market during the forecast period

Based on platform, the minisatellite (101–500 kg) segment is estimated to account for the largest share of the small satellite services market in 2017 due to the increasing demand for services, such as remote sensing, disaster management, military intelligence, telecommunications, and other academic services globally.

Based on vertical, the commercial segment is projected to lead the small satellite services market during the forecast period

Based on vertical, the commercial segment is projected to lead the small satellite services market during the forecast period. Small satellites have computational and communication capabilities, along with competencies in making decisions about the time the particular data is required to be sent.

North America is estimated to account for the largest share of the small satellite services market in 2017

North America is estimated to lead the small satellite services market in 2017. Increasing interest in small satellites due to their low cost, advanced mechanics, and ease of assembly and launch has led to a rise in venture capital-backed funding for small satellites in the region and is thus leading to the increasing scope for satellite services. The small satellite services market in the North American region is expected to witness high growth during the forecast period.

Singapore Telecommunications Limited (Singapore), Eutelsat Communications S.A. (France), EchoStar Corporation (US), Inmarsat plc (UK), and Viasat, Inc. (US), among others, are the major players in the small satellite services market.

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Small Satellite Services Market worth 53.22 Billion USD by 2022