Optical Satellite Communication Market Will Generate Record Revenue by 2030

The Optical Satellite Communication Market has evolved rapidly in recent years. It is poised for an outstanding growth trajectory. It is assessed to reach a staggering USD 13.1 billion by 2032, demonstrating a robust CAGR of 27.6% from 2024 to 2032. In 2022, the YAG laser sub-segment, a dominant force in the market, commanded an impressive 25% share, reflecting its strong performance and promising future prospects. In 2022, the North American satellite communication market value settled at around USD 676.8 million. The Asia-Pacific optical communication market will grow at a record CAGR of more than 28% from 2023 to 2032.