NEW YORK, Oct. 20, 2021 /PRNewswire/ — According to Fact.MR analysis, the global satellite internet market is projected to expand at a high compound annual growth rate (CAGR) between 2021 and 2031.
The robust expansion of satellite internet market is attributed to the increasing adoption of satellite services across various industries such as transportation and telecommunication. Also, rising penetration of smartphones and lack of internet access in rural areas will improve the growth prospects for the market.
In the last couple of years satellite internet has emerged as an effective way of communication in areas where other internet options such as cable and DSL are not available. Rural areas are hard to reach, and taking broadband to rural areas is likely to be more expensive because of the tough geography, which in turn, increases installation costs.
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This, coupled with initiatives launched by governments to enable improved internet accesses even in remote areas, is positively impacting the market growth. A large number of internet satellites are being launched into the space. Companies are working towards building “mega constellations” of hundreds or thousands of satellites to enable access to affordable and high speed internet worldwide.
According to the Union of Concerned Scientists (UCS), as of 1st January 2021, there were almost 3,372 active satellites in orbit. In 2020 around 1,283 satellites were launched, and till April-end, 850 satellites were launched in 2021. This is expected to create ample of growth opportunities for satellite internet market.
Developing countries such as India are attracting leading industry players to set up their base. Companies such as Elon Musk’s SpaceX, Amazon’s Kuiper project, and the Bharti Airtel-backed OneWeb projects are competing for the lion’s share in the India satellite internet market.
According to the report, the C-band segment dominates the satellite internet market due to its various advantages, such as wider and global coverage, lower propagation delay and less attenuation compared to other bands. It is commonly used in areas that are subject to tropical rainfall, since it is less susceptible to rainfade than Ku band.
North America is expected to dominate the satellite internet market. Growth in the region is attributable to the increasing adoption of cloud-based technology, rise in government initiatives to promote satellite technology, and presence of leading market players.
“Satellite internet market is witnessing robust growth with key players competing to enable access to affordable and high-speed internet service through launch of mega constellations of satellites. To achieve this, they are collaborating with technology giants. Through this, they aim at early competitive advantage in the market,” says the Fact.MR analyst.
Key Takeaways from Satellite Internet Market Survey
- North America will continue to dominate the satellite internet market during the forecast period.
- With increasing adoption of satellite internet across various applications and strong presence of key players, the U.S. is anticipated to lead the North America market.
- The U.K and China are projected to witness strong growth as a result of increasing penetration of smartphones and 5G network.
- The C-band segment contributed the largest market share in 2021, owing to the increasing adoption of C-band satellite internet services by end users for its high-speed internet connectivity features.
- Rising need for satellite internet across far flung rural areas will improve the satellite internet market demand.
- Increasing government initiatives, encouraging penetration of satellite internet services is positively impacting the market.
- Advancements in communication technology will create lucrative growth opportunities for satellite internet market during the forecast period.
- Growing adoption of artificial intelligence (AI), machine learning (ML) and cloud computing in space sector is expected to bode well for the market.
- Increasing penetration of smartphones and 5G is set to create lucrative opportunities for the market players.
- High maintenance and deployment cost is expected to hamper the growth of satellite internet market.
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Key companies operating in the satellite internet market are focusing on expanding their presence across the globe. They have adopted various organic and inorganic growth strategies such as mergers, acquisitions, partnerships, new product launches and collaborations to gain a competitive advantage in the market.
- In October 2021, Arianespace launched 36 new OneWeb internet satellites into orbit on Soyuz rocket. ST36 represents an important step in OneWeb and Arianespace’s partnership. OneWeb now has 358 satellites in orbit, more than half of its megaconstellation.
- In Sepotember 2021, SpaceX launched 51 Starlink internet satellites from space launch complex 4E at Vandenberg Air Force Base in California,
- In October 2021, Elon Musk, revealed that his satellite internet company Starlinks is in talks with airlines to provide in-flight Wi-Fi.
Some of the prominent players operating in the satellite internet market profiled by Fact.MR are:
- SES (O3b)
- Space Norway
More Insights on the Global Satellite Internet Market Outlook
Fact.MR provides an unbiased analysis of satellite internet market, presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031. The study divulges compelling insights on the global demand for satellite internet with a detailed segmentation on the basis of:
- Less than 15 Tbps
- 15-20 Tbps
- Above 20 Tbps
- Less Than 600 km
- 600-1200 km
- Above 1200 km
- Telecommunication Industry
- North America
- Latin America
- East Asia
- South Asia and Oceania
Key Questions Covered in the Satellite Internet Sales Outlook Report
- The report offers insight into satellite internet demand outlook for 2021-2031
- The market study also highlights projected sales growth for satellite internet market between 2021 and 2031
- Satellite internet market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
- Satellite internet market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others
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