Overview and Scope
Satellite internet refers to the wireless connection that is spread across the multiple satellite dishes that are located both on earth and in space. The satellite internet operates by communicating with satellites orbiting the Earth via radio waves.
Sizing and Forecast
The satellite Internet market size has grown rapidly in recent years. It will grow from $5.33 billion in 2023 to $5.99 billion in 2024 at a compound annual growth rate (CAGR) of 12.4%. The growth in the historic period can be attributed to rural and remote connectivity needs, global Internet access, disaster recovery and emergency services, maritime and aviation connectivity, military and defense applications.
The satellite Internet market size is expected to see rapid growth in the next few years. It will grow to $9.79 billion in 2028 at a compound annual growth rate (CAGR) of 13.1%. The growth in the forecast period can be attributed to growing demand for broadband services, expansion of low earth orbit (LEO) satellite constellations, connected vehicles and Internet of things (IoT), commercial and residential broadband solutions, government initiatives and subsidies. Major trends in the forecast period include integration with 5G networks, emergence of affordable consumer terminals, focus on rural connectivity solutions, government initiatives for space-based connectivity, advanced satellite technologies.
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Segmentation & Regional Insights
The satellite internet market covered in this report is segmented –
1) By Product: Two-Way Satellite-Only Communication, One-Way Receive, One-Way Broadcast
2) By Band Type: C-Band, X-Band, L-Band, K-Band , Other Band Types
3) By End User: Commercial, Residential, Military, Industrial, Other End Users
North America was the largest region in the satellite internet market in 2023. The regions covered in the satellite internet market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The rise in the need for satellite internet in rural areas is contributing to the growth of the satellite internet market. People residing in rural areas have struggled to gain access to reliable internet services. The internet service in rural areas is often slow and unreliable. Satellite internet service is less expensive than constructing millions of kilometers of fiber optic cable, and it’s perfect for rural and hard-to-reach places. For instance, in July 2021, according to the American Association of Retired Persons, a US-based non-profit organization, the Federal Communications Commission’s (FCC) nationwide broadband access map shows that as of November 2023, over 7.2 million homes and businesses lack access to high-speed internet service. Furthermore, in August 2022, according to Viasat, a US-based communications company, only 75% of homes in rural areas have access to broadband internet. Therefore, the unmet demand for fast and reliable internet in rural areas is increasing and is driving the satellite internet market growth.
Key Industry Players
Major companies operating in the satellite Internet market report are AT&T Inc., Dish Network Corporation, Singapore Telecommunications Limited, Avonline Satellite Broadband, Kacific Broadband Satellites Group, Thaicom Public Company Limited, ViaSat Inc., Telesat Canada, SES S.A., Space Exploration Technologies Corp, EchoStar Corporation, Intelsat S.A., Inmarsat Global Limited, Eutelsat S.A., Eutelsat OneWeb, Iridium Communications Inc., Al Yah Satellite Communications Company P.J.S.C., Speedcast International Limited, NordNet AB, Globalstar Inc., Konnect Africa, Avanti Communications Group PLC, Gilat Satellite Networks Ltd., Bigblu Broadband PLC, Bentley Walker Ltd., SkyDSL Europe B.V., Skycasters Co, Freedomsat Group Limited, Europasat SP Z.O.O
The satellite internet market report table of contents includes:
1. Executive Summary
2. Satellite Internet Market Characteristics
3. Satellite Internet Market Trends And Strategies
4. Satellite Internet Market – Macro Economic Scenario
5. Global Satellite Internet Market Size and Growth
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31. Satellite Internet Market Other Major And Innovative Companies
32. Global Satellite Internet Market Competitive Benchmarking
33. Global Satellite Internet Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Satellite Internet Market
35. Satellite Internet Market Future Outlook and Potential Analysis
36.Appendix
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