Italy Satellite Communication Market Size

Italy Satellite Communication Market Analysis

The Italy satellite communication market was valued at 0.38 billion in the current year and is expected to grow at a CAGR of 11.05% during the forecast period to become 0.64 billion by the next five years. The satellite communication market in the country is driven by the increasing adoption of advanced technologies in various sectors, coupled with the growing demand from the government sector.

• The satellite communication market in Italy has witnessed substantial growth in the past few years, owing to increasing demand from the defense and government sector and enterprise sectors coupled with growing new launches from market vendors in the country. Moreover, the increasing demand for broadband communications in the country further provides growth prospects for market vendors to deploy their satellite communication services.
• Additionally, the growth in the adoption of advanced technologies in various end-user sectors nationwide further drives the need for enhanced, secure, reliable and high-speed communication in the country, thus increasing the satellite communication market. These end-user enterprises in the country heavily utilize Satcom services to collect operational data, improve efficiency, and realize sustainable business practices.
• The satellite communication providers are also expected to gain substantial growth opportunities in the 5G deployments across the country. For instance, in June 2022, Telecom Italia (TIM), a satellite communication and telecom firm in Italy, secured EUR 725 million (~USD 796.93 Million) tenders for a 5G rollout.
• However, the Cybersecurity challenges in satellite communication have become a major concern as launching a satellite to transmit data is highly sensitive. Furthermore, because the vulnerabilities are mission-critical, the difficulty is the negative effect that such cybersecurity threats can have. The launch systems, communications, telemetry, tracking and command, and mission completion are among the mission-critical vulnerabilities vulnerable to cybersecurity threats. Such factors may hinder the growth of the market in the country.
• During the COVID-19 pandemic, Satcom services gained significant traction to provide efficient communication. For instance, ESA announced funding 'Space in response to COVID-19 outbreak' in partnership with the Italian Minister for Technological Innovation and Digitalisation and the support of the Italian Space Agency. Through the announcement, ESA invited companies to submit their ideas for deploying and demonstrating services to respond to the emergency in Europe, especially in Italy, due to the coronavirus.