Portland, OR , Nov. 11, 2019 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global satellite services market generated $126.5 billion in 2018 and is expected to garner $144.5 billion by 2026, growing at a CAGR of 2.2% from 2019 to 2026. The report offers a detailed analysis of changing market trends, key segments, top winning strategies, and competitive landscape.
A surge in demand for high-resolution imaging services and preferences for managed network services drive the growth in the global satellite services market. However, a decrease in demand for television services from developing countries impedes the growth of the market. On the other hand, the rise in demands in developing nations provides lucrative opportunities for the industry.
Based on type, the consumer services type accounted for the largest revenue share in the global satellite services market in 2018, accounting for nearly four-fifths of the total market share. The segment is estimated to dominate during the study period. On the other hand, the fixed satellite services segment is expected to register the highest growth rate with a CAGR of 3.0% from 2019 to 2026.
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Based on end-user, the media & entertainment segment held the lion’s share by contributing nearly one-fourth of the total market share in 2018 and is projected to maintain its dominant position during the forecast period. However, the retail & enterprise segment is expected to register the highest growth rate with a CAGR of 2.9% from 2019 to 2026.
Based on the region, North America held the largest market share, accounting for nearly half of the total market share in 2018, and will continue its dominant position during the study period. On the other hand, Asia-Pacific is expected to register the highest growth rate with a CAGR of 3.3% from 2019 to 2026.
Leading market players analyzed in the report include PCCW Global, Inmarsat plc, Intelsat, Eutelsat Communications SA, Intersputnik, Echostar Corporation China Satellite Communications Co., Ltd. (China Satcom), MEASAT, Thaicom Public Company Limited, Thuraya Telecommunications Company, Asia Satellite Telecommunications Co. Ltd., Viasat, Inc., and SES S.A.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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