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North America was the largest region in the commercial satellite constellations market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the commercial satellite constellations market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth
The rise of the internet of things (IoT) is expected to propel the growth of the commercial-satellite constellations market going forward. IoT refers to a network of interconnected physical devices, vehicles, appliances, and other items embedded with sensors, software, and connectivity capabilities that enable them to collect and exchange data over the Internet. Satellite constellations are vital for achieving universal connectivity as they ensure that even IoT devices in remote or inaccessible areas can access the internet, where traditional terrestrial networks may be insufficient. For instance, in November 2022, according to a report published by Ericsson, a Sweden-based telecommunications company, IoT connections across the world were projected to amount to 15.7 billion connections in 2023. Moreover, the number is projected to reach nearly 38.9 billion in 2029 at a growth rate of 16%. Therefore, the rise of the internet of things (IoT) is driving the growth of the commercial-satellite constellations market.

Key Industry Players
Major companies operating in the commercial satellite constellations market are Lockheed Martin Corporation, Northrop Grumman Corporation, Mitsubishi Electric Corporation, Honeywell International Inc, China Aerospace Science and Technology Corporation (CASC), Thales Alenia Space, Space Exploration Technologies Corp, Viasat Inc., Cobham plc, L3Harris Technologies Inc, Airbus Defence and Space SAS, OHB System AG, Iridium Communications Inc, Telesat Canada, Al Yah Satellite Communications Company (Yahsat), Skyloom Global Corp, Globalstar Inc., Planet Labs PBC, Indian Space Research Organisation (ISRO), Spire Global Inc., Capella Space, Kepler Communications Inc., LeoLabs Inc., OneWeb Global Limited, LeoStella LLC, SatSure Ltd., Nuview, Lynk Global Inc.

The commercial satellite constellations market report table of contents includes: