Satellite Internet Market | Technological Advancements of Connectivity
Satellite Internet Industry Overview
The global satellite internet market size was valued at USD 8,231.47 million in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 13.6% from 2023 to 2030. Satellite internet is a wireless network that covers satellite dishes in space and on Earth. It connects people in remote locations worldwide and provides access to up-to-date information.
Satellite internet is accessed via high-speed network connectivity provided by satellites circling the Earth. It is faster than standard internet service and distinct from land-based broadband services such as digital subscriber line (DSL) and cable. Satellite communication provides a land-based interface with voice, video, and information that can be accessed anywhere on the planet.
Gather more insights about the market drivers, restrains and growth of the Satellite Internet Market
One of the most significant benefits of satellite internet for businesses is the ability to transmit a connection anywhere in the world at many megabits per second over remote locations such as oceans and mountains. On the other hand, a secure and private link can connect numerous remote places separated by considerable distances. Due to the absence of other broadband internet alternatives, demand for the satellite internet market is growing in rural areas.
Additionally, satellite internet can provide access to the internet in remote regions like deserts and mountainous areas where it is difficult to access broadband, which increases the demand for satellite internet in these regions. Also, satellite internet technology provides customers with incredible speed and data. As a result, emerging economies such as India, Vietnam, and Malaysia are rapidly adopting these services, which in turn boosts the growth of the market.
The rise in government programs for the uptake of advanced satellite internet services to develop a digitized economy and enhance public safety & security drives the market growth. Furthermore, several governments are significantly funding companies to provide broadband services to rural populations across emerging countries, which is also considered a significant factor in boosting the market growth.
For instance, In January 2020, the U.S. Federal Communications Commission (FCC) launched the Rural Digital Opportunity Fund to offer USD 20.4 billion for developing broadband networks in remote areas. The FCC granted USD 886 million in the first deployment phase to SpaceX, a satellite company. Furthermore, satellite broadband usage in smart cities is anticipated to create lucrative market opportunities in the near future. However, satellite internet's high implementation and maintenance costs restrain the market's growth.
Browse through Grand View Research's Category Communication Services Industry Research Reports.
• The global mobile voice market size was valued at USD 360.2 billion in 2021 and is expected to expand at a compound annual growth (CAGR) of 5.6% from 2022 to 2028. The global market is primarily driven by increasing adoption of mobile communication services among various industry verticals such as IT and telecommunications, healthcare, and manufacturing.
• The global fixed voice market size was valued at USD 142.2 billion in 2021 and is expected to decline at a compound annual growth (CAGR) of -2.3% from 2022 to 2028. Due to decreased circuit-switched subscriptions among businesses and consumers and a drop in average revenue per user (ARPU), fixed voice service revenue is expected to shrink in the coming years.
Satellite Internet Market Segmentation
Grand View Research has segmented the global satellite internet market based on frequency band, industry, and region:
Satellite Internet Frequency Band Outlook (Revenue, USD Million, 2017 - 2030)
• L-band
• C-band
• K-band
• X-band
Satellite Internet Industry Outlook (Revenue, USD Million, 2017 - 2030)
• Energy & Utility
• Government & Public Sector
• Transport & Cargo
• Maritime
• Military
• Corporates/Enterprises
• Media & Broadcasting
• Others
Satellite Internet Regional Outlook (Revenue, USD Million, 2017 - 2030)
• North America
o U.S.
o Canada
• Europe
o U.K.
o Germany
o France
o Italy
• Asia-Pacific
o China
o India
o Japan
o South Korea
• Latin America
o Brazil
o Mexico
• Middle East & Africa
Order a free sample PDF of the Market Intelligence Study, published by Grand View Research.
Key Companies profiled:
• Singtel Group
• Freedomsat
• EchoStar Corporation
• Thuraya Telecommunications Company
• Eutelsat Communications SA
• SpaceX
• Viasat, Inc.
• Axess
• DSL Telecom
Recent Developments
• In May 2022, Singtel launched iSHIP, an all-in-one platform providing satellite-enabled digital services and connectivity for the maritime industry. This service of iSHIP gave ship owners and ship managers substantial visibility and flexibility of their operations and resources
• In July 2022, Eutelsat Communications collaborated with OneWeb to combine Eutelsat’s 36 GEO satellites with OneWeb’s constellation of 648 low Earth orbit satellites. This enabled both the entities to capture the satellite connectivity market, and take on SpaceX's satellite internet dominance
Comentários