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The global nanosatellite and microsatellite market size is expected to reach USD 4.95 billion by 2025, expanding at a CAGR of 22.2% over the forecast period, according to a new report by Radiant Insights, Inc. Upsurge in earth observation missions, along with development of Small Satellite Launch Vehicles (SSLV), is expected to propel market growth.The emerging role of small satellites in the telecom sector has enabled telecom providers to accelerate 5G deployment globally, along with creating market opportunities for satellite communication (satcom) industry stakeholders.
Deploying small satellites for 5G deployment can particularly benefit in the form of wide area coverage, cost-effectiveness, and reliability.
At the same time, latest technologies, such as new solar panel cell technology and star tracker technology, are also allowing small satellites to strengthen their position in the broader satellite industry.
Download Free Sample Report @ https://www.radiantinsights.com/research/nanosatellite-and-microsatellite-market/request-sample The growth of the communications sector, coupled with the continued adoption of Internet of Things (IoT), is expected to open opportunities in the global market.
For instance, Hiber is expected to launch its first nanosatellite in 2019 to deliver internet connectivity to remote locations using Hiberband modem and support potential IoT projects globally.
For instance, the UK Space Agency’s Space for Smarter Government Program (SSGP) allows departments to share expertise, data, and services related to nanosatellites and microsatellites as well as information obtained from these satellites.
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