Satellite Communication SATCOM Market Insights Video

According to Cognitive Market Research, the global Satellite Communication (SATCOM) market size was USD 22951.5 million in 2024. It will expand at a compound annual growth rate (CAGR) of 11.60% from 2024 to 2031.

• North America held the major market share for more than 40% of the global revenue with a market size of USD 9180.60 million in 2024 and will grow at a compound annual growth rate (CAGR) of 9.8% from 2024 to 2031.
• Europe accounted for a market share of over 30% of the global revenue with a market size of USD 6885.45 million.
• Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 5278.85 million in 2024 and will grow at a compound annual growth rate (CAGR) of 13.6% from 2024 to 2031.
• Latin America had a market share of more than 5% of the global revenue with a market size of USD 1147.58 million in 2024 and will grow at a compound annual growth rate (CAGR) of 11.0% from 2024 to 2031.
• Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 459.03 million in 2024 and will grow at a compound annual growth rate (CAGR) of 11.3% from 2024 to 2031.
• The Commercial category is the fastest growing segment of the Satellite Communication (SATCOM) industry