North America Satellite Communication Terminal Market impacted by COVID-19; global market to reach $33.2B by 2029, driven by broadband, IoT, and gov't investments.

The North America Satellite Communication Terminal Market has been impacted by the COVID-19 pandemic, which affects various business segments and country markets. A report by MarketsandMarkets reveals that the global Satellite Communication Market is expected to reach $33.2 billion by 2029, driven by factors such as broadband connectivity needs, expanding cellular network coverage, rising IoT connectivity demand, and government investments in SATCOM infrastructure. The consumer segment holds the largest market share, while the aviation segment is predicted to have the highest growth. The Middle East & Africa region anticipates the highest growth rate due to increased connectivity efforts.

August 27, 2024
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