Satellite Internet Market Foreseen To Increase Exponentially By 2030
Satellite Internet Industry
The global satellite internet market size is expected to reach USD 22,571.58 million by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 13.6% from 2022 to 2030. Satellite internet is a wireless network that provides access to satellite dishes both in space and on earth. It connects people in remote regions worldwide and provides access to a global information network. Satellite internet is accessed through high-speed network connectivity supplied by Earth-circling satellites. It is faster than a regular internet connection and distinguishes itself from land-based internet services such as digital subscriber line (DSL) and cable. Satellite communication provides a land-based interface for accessing audio, video, and information from anywhere on Earth.
One of the significant advantages of satellite internet for businesses is the ability to transmit a link at many megabits per second over a remote location. However, a private and secure connection can join many remote locations spread over a wide area. In rural areas, demand for satellite internet is rising due to the lack of other broadband internet choices. Additionally, satellite internet can provide access to the web in remote areas where it is challenging to get broadband, such as deserts and mountains, which increases the demand for satellite internet in these areas. Furthermore, internet users can now get better speed and bandwidth owing to advancements in satellite internet technology. As a result, these services are quickly adopted in emerging economies such as India, Brazil, the Philippines, Malaysia, and more fueling the market's expansion.
The rise in government programs for the uptake of advanced satellite internet services to develop a digitized economy and to provide enhanced public safety & security drives the market's growth. Furthermore, several governments are significantly funding satellite internet companies to provide broadband services to rural populations across emerging countries, boosting market growth. For instance, In October 2022 U.K. government invested USD 14.62 million in U.K. businesses to enhance satellite communications technology. Advanced Research in Telecommunications Services (ARTES) and European Space Agency (ESA) fund this investment. This investment is focused on developing new satellite configurations and terrestrial infrastructure or providing internet services to customers.
Gather more insights about the market drivers, restrains and growth of the Global Satellite Internet market
Satellite Internet Market Segments Highlights:
- The key factors driving the growth of the satellite internet market globally include a surge in the adoption of satellite services in government and military and growing adoption of satellite internet for connectivity in rural areas
- The frequency band comprises L-band, C-band, K-Bband, and X-band. The K-band segment dominates the satellite internet market, gaining a share of more than 41% in 2022 and witnessing a CAGR of 16.0% during the forecast period. The K-band frequency is utilized in defense, broadcasting, and security radar systems. K-band monolithic microwave integrated circuit (MMIC) is an emerging technology that enables the implementation of K-band low-noise and amplifiers with reduced costs, ease of large-scale production, and high durability which further drives its adoption in the forecasted period
- The government and public segment are expected to dominate in 2021, gaining a market share of more than 19%. It is expected to grow at 12.6% CAGR throughout the forecast period owing to increasing government initiatives across the globe to provide internet connectivity in remote locations
- North America led the overall market in 2021, with highest market share of over 32%. It is expected to grow at a CAGR of 13.1% throughout the forecast period. The growth is due to the rise in government initiatives to deploy satellite technology in various parts of North America. The population of developed countries such as the U.S. and Canada is highly tech-savvy and requires fast & better internet connectivity. This elevates the demand for high-speed internet, which should foster regional market growth
- To increase their product offering, companies utilize a variety of inorganic growth tactics, such as partnerships, mergers, and acquisitions. For instance, In October 2022, Axess announced a partnership with Viasat. Viasat's maritime operations will be able to reach a wider global audience owing to its strategic relationship with AXESS Maritime, which will provide a variety of solutions and services. AXESS Maritime offers regional and international networks and provides the complete rotation from network infrastructure, deployment, implementation, ship monitoring, and round-the-clock global NOC support
Satellite Internet Market Report 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
Key Satellite Internet Company Insights
- Singtel Group
- Freedomsat
- EchoStar Corporation
- Thuraya Telecommunications Company
- Eutelsat Communications SA
- SpaceX
- Viasat, Inc.
- Axess
- DSL Telecom
Order a free sample PDF of the Satellite Internet Market Intelligence Study, published by Grand View Research.
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