Satellite Internet Market Business Analysis, Share, Revenue & Sales Till 2030
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.
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.
Gather more insights about the market drivers, restrains and growth of the Global satellite internet market
Satellite Internet Market Segments Highlights:
- In terms of frequency band, the market is classified into L-band, C-band, K-band, and X-band. The K-band segment dominated the target market, gaining a share of over 41% in 2022 and witnessing a CAGR of 16.0% during the forecast period.
- The X-band segment is anticipated to witness a significant CAGR of 10.8% throughout the forecast period. The X-band has been explicitly allocated for marine, military, and government missions.
- Based on industry, the market is classified into energy & utility, government and public sector, transport & cargo, maritime, military, corporates/enterprises, media & broadcasting, and others.
- The government and public segment is dominated the target market in 2022, gaining a share of over 19%.
- The media and broadcasting segment is anticipated to witness the fastest growth of 16.4% throughout the forecast period. The development of the media and broadcasting sector is due to an increase in demand for TV and radio applications.
- North America led the overall market in 2022, with highest market share of over 32%. It is expected to grow at a CAGR of 13.1% throughout the forecast period. The market is consolidated and is anticipated to witness increased competition due to several players' presence.
- Additionally, the market expansion is supported by various companies such as SpaceX, and Hughes Network launching innovative products.
- The Asia-Pacific is expected to develop substantially by the projection period and grow at a fastest CAGR of 14.9%. The target market is significantly growing in the Asia Pacific region owing to the rise of satellite internet in the broadcasting, healthcare, and government and military sectors.
- China, Japan, India, and South Korea have the highest demand in the region for the satellite internet market. Satellite connectivity will supplement terrestrial access in distant places and other areas untapped by domestic broadband or fixed wireless access.
Browse through Grand View Research's Communication Services Industry Research Reports.
- Industrial Communication Market: The global industrial communication market size was estimated at USD 21.15 billion in 2023 and is expected to grow at a CAGR of 5.8% from 2024 to 2030.
- Rich Communication Services Market: The global rich communication services market size was valued at USD 2.68 billion in 2023 and is projected to grow at a CAGR of 25.3% from 2024 to 2030.
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
- US
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Latin America
- Brazil
- Mexico
- Middle East & Africa
Order a free sample PDF of the Satellite Internet Market Intelligence Study, published by Grand View Research.
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