Satellite Internet Market Size Expected to Reach USD

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SEATTLE, Sept. 07, 2022 (GLOBE NEWSWIRE) — SEATTLE, September 062022 (GLOBE NEWSWIRE) – The Global Satellite Internet market The size accounted for USD 3,985 million in 2021 and is expected to reach 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 Highlights

• Global Satellite Internet Market revenue was USD 3,985 million in 2021 growing at a CAGR of 18.2% over the forecast years

• Satellite Internet market in North America leads with more than 32% market share in 2021

• Among band types, C-band segment captures more than 30% of the total market share

• Asia-Pacific Satellite Internet Market to See Highest CAGR of 21% during 2022-2030

• Rising demand for wireless broadband in rural areas is driving the satellite internet industry

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Report cover:

Market Satellite Internet market
Satellite Internet market Size 2021 $3,985 million
Satellite Internet Market Forecast 2030 $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 type of band, by end user and by geographical area
Satellite Internet Market Regional scope North America, Europe, Asia-Pacific, Latin America, Middle East and Africa
Profiled Key Companies 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 cover Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulatory Analysis

Satellite internet is probably one of the most impressive feats of internet delivery. According to Morgan Stanley, satellite internet will represent half of the global space economy by 2040. Under certain circumstances, this figure could reach 70%. A satellite Internet connection transmits an Internet signal from the Internet Service Provider (ISP) to the device via a satellite. Over the past two decades, the internet has evolved from a commodity to a convenience and a need, primarily due to smartphone revolutions. Although mobile phone penetration will reach 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 remote areas.

The satellite internet market includes the sales of satellite internet by entities referring to the broadband system which is dispersed over multiple satellite dishes placed both on Earth and in space. Satellite Internet works by sending radio signals to satellites orbiting the Earth. Since these locations lack infrastructure such as radio communication connections, cell phones, or fiber optic cables, it is usually used in remote or hard-to-reach areas. The three main forms of satellite internet products are two-way satellite-only transmission, one-way receive, and one-way broadcast. Two-way satellite uplinks can transmit information from a remote contact site to a hub via satellite. The many types of bands, such as X-band, L-band, C-band, and K-band, affect a variety of industries and market segments, including business, government, residential, military, and industrial.

Global Satellite Internet Market Dynamics

The growth of the satellite internet market can be attributed to the increasing desire for high-speed internet connectivity, supported by the global digitization of all private and government activities. Satellite internet connectivity is provided via communications satellites, which offer significantly faster data speeds. Also, because satellites are not installed in one location, they deliver a significantly larger signal than cable broadband. The benefits of satellite internet such as high speed, greater availability region and wider signal are expected to drive the satellite internet market revenue. Increased internet adoption, especially 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 global population has an internet connection in 2019. Rising internet penetration rate is expected to drive the market growth.

Also, the continued expansion of internet connectivity around the world, along with many technological developments such as 5G, Internet of Things (IoT), cloud services, blockchain and artificial intelligence (AI) , among other things, have greatly improved the Internet via satellite. market growth over the past two decades. As of April 2021, more than 4.5 billion people were actively using the internet worldwide. Moreover, the expansion of the ICT industry has greatly contributed to market growth, increased productivity, and R&D expenditure, among other economic changes in various countries around the world. In addition, the supply of goods and services from the ICT industry contributes to economic growth and progress.

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Market segmentation

The global satellite internet market has been segmented by Acumen Research and Consulting based on band type, as well as end user. By band type, the market is segregated into C-band, X-band, K-band, L-band, and others. By end user, the industry is divided into commercial users (government and public sector (law enforcement agencies (fire department, police department, others), public health agencies and emergency rescue centers emergency), corporate, maritime and aeronautical institutions, and others), and individuals.

Global Satellite Internet Market Regional Outlook

The global satellite internet market is divided into several geographical regions: Asia-Pacific, Latin America, North America, Europe, Middle East and Africa. According to the satellite internet industry analysis, the North America region may dominate the global market in 2021. This is due to the region’s growing use of advanced technologies such as cloud, IoT and AI, as well as the rise in government attempts to deliver satellite technology to various parts of North America. Additionally, the growing desire for easy and convenient broadband connectivity in remote areas, especially in defense and military industries, is propelling the regional market.

Also, Asia-Pacific is expected to grow at a rapid pace over the projection period. This is mainly due to the increased use of satellite internet by various sectors including business and government to communicate with rural and remote areas. In addition, the Chinese administration has started investing in the formation of a 100% state-owned company to build and operate a constellation of broadband satellites, which represents a profitable prospect for the market.

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Satellite Internet market players

Some of the major companies in the satellite internet market 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 this report answers

  • What was the market size of Satellite Internet Market in 2021?
  • What will be the CAGR of the Satellite Internet Market during the forecast period from 2022 to 2030?
  • Who are the major players in the Global Satellite Internet Market?
  • Which region held the largest Satellite Internet Market share in 2021?
  • What are the key market drivers of Satellite Internet Market?
  • What is the largest end-user satellite Internet market?
  • How much will the satellite internet market be worth in 2030?

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About Acumen Research and Consulting:

Acumen Research and Consulting is a global provider of information and consulting services in the information technology, investment, telecommunications, manufacturing and consumer technology markets. ARC helps investment communities, IT professionals, and business leaders make fact-based decisions about technology purchases and develop business growth strategies to compete in the marketplace . With a team of over 100 analysts and a collective industry experience of over 200 years, Acumen Research and Consulting ensures to provide a combination of industry knowledge with global and national level expertise.

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