The Global Satellite Internet Market is expected to foresee significant growth. North America to lead the growth!
- Vikas Kumar
- July 12, 2023
- NEWS, TELECOM & IT
- 0 Comments
The Satellite Internet Market is expected to grow at a strong CAGR of around 16% during the forecast period owing to the rapid uptake of satellite services by numerous emerging countries’ police, fire, and other departments, as well as the global growth of communication technology. Additionally, the increased adoption of artificial intelligence (AI), machine learning (ML), and cloud computing in the space sector is further expected to contribute to market growth. The introduction of satellite broadband in smart cities and connected cars helps in enhancing public safety. Hence, the rapidly increasing investment in smart city projects is also helping the market to grow. For instance, According to the SmartAmerica Challenge, city governments in the U.S. alone will invest around USD 41 trillion over the next two decades to upgrade their infrastructure and take advantage of IoT technology.
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Based on the band type, the market is segmented into C – band, X – band, L – band, K – band, and others. Amongst these, the K – band segment held the major share of the market in 2021. The use of K-band frequency is on the rise in various fields like defense, broadcasting, and security radar systems. An upcoming trend in K-band technology is K – band monolithic microwave integrated circuit (MMIC), which makes it possible to develop K-band power amplifiers and low-noise amplifiers at a lower cost, and with ease of large-scale production and high durability. This trend is expected to fuel the growth of the market in the predicted period.
By application, the market is divided into video, connectivity, IoT, and others. Among these, the IoT application segment captured a significant share of the satellite internet market in 2021 and is expected to grow at a strong CAGR during the forecasted period owing to the rising applications of satellite internet in IoT and the growing number of IoT devices globally. In IoT applications, satellite internet can be used to connect various devices, including sensors, cameras, and other smart devices, to a central system or server for data analysis, storage, and control.
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For a better understanding of the market adoption of the satellite internet industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, and the Rest of North America), Europe (Germany, U.K., France, Italy, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. For a better understanding of the market adoption of the telecom billing software industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, and the Rest of North America), Europe (Germany, U.K., France, Italy, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. North America captured a dominating share of the market in 2021 and is expected to grow at a strong CAGR during the forecast period. One of the most prominent factors driving the growth of the market is the inadequate availability of traditional broadband services, particularly in rural areas where infrastructure is limited and internet service providers are far away. This makes it difficult for residents to access high-speed internet. However, satellite internet provides an effective solution as it can be used to connect remote locations without the need for physical infrastructure. Further on, advancements in technology have made satellite internet more accessible and affordable.
Some of the major players operating in the market are Singtel; EUTELSAT COMMUNICATIONS SA; Oneweb.net; SPACEX; Viasat, Inc.; EchoStar Corporation; Embratel; Airtel India; DSL Telecom; and Hispasat.
Global Satellite Internet Market Segmentation
Market Insight, by Band Type
- C – Band
- X – Band
- L – Band
- K – Band
- Others
Market Insights, by Application
- Video
- Connectivity
- IoT
- Others
Market Insights, by Industry
- Energy & Utility
- Government
- Maritime
- Military
- Others
Market Insight, by Region
- North America
- U.S.
- Canada
- Rest of North America
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
- Rest of the World
Top Company Profiles
- Singtel
- EUTELSAT COMMUNICATIONS SA
- Oneweb.net
- SPACEX
- Viasat, Inc.
- EchoStar Corporation
- Embratel
- Airtel India
- DSL Telecom
- Hispasat
