Several massively disruptive political, economic, and social headwinds—soaring interest rates, looming food and energy shortages, a devastating and needless war, and the changing nature of work—are creating an especially challenging climate. According to global technology intelligence firm ABI Research, while the pandemic and increasing geopolitical tensions have tested supply chains, budgets, and schedules, the SatCom industry is showing its resiliency and adaptability and will deliver inclusive broadband services to urban, underserved, and unserved populations—a number that ABI Research estimates will grow to 330 million premises, equivalent to 1.3 billion household members, by 2026 as part of the Serviceable Addressable Market (SAM) potential for the global Satcom industry.
“More now than ever, the Satcom industry is showing that it is primed for growth and here to stay,” states Andrew Cavalier, Satellite Communications Industry Analyst at ABI Research. “While the pandemic and increasing geopolitical tensions have tested supply chains, budgets, and schedules, the industry is showing its resiliency and adaptability. In this respect, the industry is quickly accelerating market consolidation of major players and integrating Non-Terrestrial Networks (NTNs) for space-borne 5G broadband. The market consolidation aspect can be seen partly because of the many economic factors influencing the industry, as many companies are now merging portfolios, infrastructure, and supply chains to remain competitive in existing business lines and tapping into new ones.”
Cavalier shared his findings in ABI Research’s new whitepaper, 2022 State of Technology Report: The Future of Technology in a Tumultuous World. ABI Research analysts from throughout the globe have compiled their observations, analyses, and recommendations for critical technologies and end markets.
Stuart Carlaw, Chief Research Officer, concludes, “We should heed one of the most important business lessons learned during 2020—that technology will not be a casualty of uncertainty, but rather a tool to overcome it. Companies that embrace, invest in, and deploy technology wisely will undoubtedly emerge stronger and better prepared to handle the next spate of challenges on the horizon, no matter the weather.”
To learn more about how challenging economic, political, and business headwinds will shape transformation technology markets, including 5G, Automotive, Digital Security, and Smart Home, and how technology will play a key role in navigating this unique landscape, download the 2022 State of Technology Report: The Future of Technology in a Tumultuous World.