SEATTLE, Sept. 07, 2022 (GLOBE NEWSWIRE) — SEATTLE, September 06, 2022 (GLOBE NEWSWIRE) – The Global Satellite Internet Market Size accounted for USD 3,985 Million in 2021 and is estimated to achieve a market size of USD 17,431 Million by 2030 growing at a CAGR of 18.2% from 2022 to 2030.
Satellite Internet Market Report Key Highlights
• Global satellite internet market revenue was worth USD 3,985 million in 2021, with a 18.2% CAGR over the forecasting years
• North America satellite internet market leads with more than 32% market share in 2021
• Among band types, C-band segment capture more than 30% of total market share
• Asia-Pacific satellite internet market would exhibit the highest CAGR of 21% during 2022-2030
• Rise in demand for wireless broadband in rural areas is driving the satellite internet industry
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|Market||Satellite Internet Market|
|Satellite Internet Market Size 2021||USD 3,985 Million|
|Satellite Internet Market Forecast 2030||USD 17,431 Million|
|Satellite Internet Market CAGR During 2022 – 2030||18.2%|
|Satellite Internet Market Analysis Period||2018 – 2030|
|Satellite Internet Market Base Year||2021|
|Satellite Internet Market Forecast Data||2022 – 2030|
|Segments Covered||By Band Type, By End User, And By Geography|
|Satellite Internet Market Regional Scope||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Key Companies Profiled||Embratel, EchoStar Corporation, Eutelsat Communications SA, Thuraya Telecommunications Company, Freedomsat, OneWeb, Skycasters, Viasat, Inc., Hughes Network Systems, LLC, Singtel, SpaceX, and Wireless Innovations, Ltd.|
|Report Coverage||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis|
Satellite internet is likely one of the most impressive feats of internet delivery. According to Morgan Stanley, satellite internet will account for half of the global space economy by 2040. In certain circumstances, such figure might rise to 70%. A satellite internet connection transmits an internet signal from the internet service provider (ISP) to the device via a satellite. Over the last two decades, the internet has evolved from a commodity to convenience and a need, owing primarily to the smartphone revolutions. Although mobile phone penetration will hit 48% by 2020, internet penetration will remain limited to metropolitan consumers. Using this approach, an internet connection is transmitted from a satellite orbiting the Earth, providing uninterrupted internet and connectivity even in rural and isolated areas.
The satellite internet market comprises satellite internet sales by entities referring to the broadband system that is dispersed across several satellite dishes placed both on the Earth and in space. Satellite internet works by sending radio signals to satellites that orbit the Earth. Since these locations lack infrastructure facilities like radio communication connections, cellphones, or fiber cables, it is typically employed in remote or difficult-to-reach areas. The three primary forms of satellite internet products are two-way satellite-only transmission, one-way receiving, and one-way broadcasting. Two-way satellite uplinks can deliver information from a distant contact site to a hub via a satellite. The numerous band types, such as X-band, L-band, C-band, and K-band, affect a variety of industries and market segments, including corporate, government, residential, military, and industrial.
Global Satellite Internet Market Dynamics
The satellite internet market growth can be ascribed to the rising desire for high-speed internet connectivity, which is being supported by the global digitization of all private and government activities. Satellite internet connectivity is provided via communication satellites, which give substantially faster data speeds. Furthermore, as satellites are not set in one location, they deliver a considerably larger signal than cable broadband. Satellite internet’s advantages, such as great speed, a larger region of availability, and a wider signal, are expected to drive the satellite internet market revenue. The increased adoption of the internet, particularly in advanced economies, is also expected to drive the demand for the satellite internet market trend. According to World Bank data, 56.7% of the entire world’s population has an internet connection in 2019. The increased internet penetration rate is predicted to drive market growth.
Furthermore, the continuous expansion of internet connectivity around the globe, as well as numerous technological developments such as 5G, Internet of Things (IoT), cloud services, blockchain, and Artificial Intelligence (AI), among others, have massively improved the satellite internet market growth over the last two decades. As of April 2021, more than 4.5 billion individuals were actively utilizing the internet worldwide. Furthermore, expansion in the ICT industry has greatly contributed to market growth, productivity increases, and R&D spending, among other economic shifts in various nations around the world. Furthermore, the ICT industry’s supply of goods and services contributes to economic growth and advancement.
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The global satellite internet market has been fragmented by Acumen Research and Consulting based on band type, as well as end user. By band type, the market is separated into C-band, X-band, K-band, L-band, and Others. By end user, the industry is divided into commercial users (government & public sector (law enforcement agencies (fire department, police department, others), public health organizations, and emergency relief centers), corporate institutions, maritime & aircraft, and others), and individuals.
Global Satellite Internet Market Regional Outlook
The global satellite internet market is divided into several geographic regions: Asia-Pacific, Latin America, North America, Europe, and the Middle East and Africa. As per the satellite internet industry analysis, the North America region can dominate the global market in 2021. This is due to the region’s increasing use of cutting-edge technologies such as cloud-based, IoT, and AI technology, as well as the rise in government attempts to provide satellite technology in various parts of North America. Furthermore, the growing desire for simple and convenient broadband connectivity in remote areas, notably in the defense and military industries, is propelling the regional market.
Besides this, Asia-Pacific is predicted to increase at a rapid pace during the projection period. This is mostly due to the increased use of satellite internet by various sectors, including business and government, to communicate with rural and remote locations. In addition, the Chinese administration has started spending in the formation of a wholly owned government corporation to build up and run a broadband satellite constellation, which represents a profitable prospect for the market.
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Satellite Internet Market Players
Some of the major satellite internet market companies are Embratel, EchoStar Corporation, Eutelsat Communications SA, Thuraya Telecommunications Company, Freedomsat, OneWeb, Skycasters, Viasat, Inc., Hughes Network Systems, LLC, Singtel, SpaceX, and Wireless Innovations, Ltd.
Questions Answered By This Report
- What was the market size of Satellite Internet Market in 2021?
- What will be the CAGR of Satellite Internet Market during the forecast period from 2022 to 2030?
- Who are the major players in Global Satellite Internet Market?
- Which region held the largest share in Satellite Internet Market in 2021?
- What are the key market drivers of Satellite Internet Market?
- Who is the largest end user Satellite Internet Market?
- What will be the Satellite Internet Market value in 2030?
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