Key industry insights and findings from the report:
Key factors driving the growth of the global satellite internet market include an increase in the adoption of satellite services in the government and military and the growing adoption of satellite internet for connectivity in rural areas.
The frequency band comprises L-band, C-band, K-band and X-band. The K-band segment dominates the satellite internet market, gaining a share of 40.3% by 2021 and witnessing a CAGR of 13.9% during the planned period. The K-band frequency is used in defense, broadcasting and security radar systems. The K-band monolithic microwave integrated circuit (MMIC) is an emerging technology that enables the implementation of low-noise K-band and amplifiers with reduced costs, ease of large-scale production, and high durability that further drives its adoption in the period foreseen .
The government and public sector is expected to dominate in 2021, gaining a market share of 19.8%. It is expected to grow at a CAGR of 10.5% during the forecast period due to increasing government initiatives across the globe to provide Internet connectivity in remote locations.
North America led the global market in 2021, with the largest market share of 32.5%. It is expected to have a CAGR of 11.0% throughout the forecast period. The growth is due to increased government initiatives to deploy satellite technology in various parts of North America. The population of developed countries such as the US and canada is very tech savvy and requires fast and better internet connection. This raises the demand for high-speed internet, which should encourage the growth of the regional market.
To increase their product offerings, companies use a variety of inorganic growth tactics, such as partnerships, mergers, and acquisitions. For example, In October 2022, Axess announced a partnership with Viasat. Viasat’s maritime operations will be able to reach a wider global audience due to its strategic relationship with AXESS Maritime, which will offer a range of solutions and services. AXESS Maritime offers regional and international networks and offers the full turnkey from network infrastructure, deployment, deployment, vessel tracking and 24/7 global NOC support.
Read a complete 150-page market research report for more latest insights”Satellite Internet Market Size, Share and Trends Analysis Report by Frequency Band (L-Band, C-Band, K-Band and X-Band), by Industry, by Region (North America, Europe, Asia Pacific, Latin AmericaMEA), and forecasts by segments, 2022-2030“, published by Grand View Research.
Satellite Internet Market Growth and Trends
Satellite internet is accessed through high-speed network connectivity provided by satellites circling the Earth. It is faster than a regular Internet connection and is different from terrestrial Internet services such as digital subscriber line (DSL) and cable. Satellite communication provides a terrestrial interface to access 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 through a remote location. However, a private and secure connection can join many remote locations spread over a wide area. In rural areas, the demand for satellite internet is increasing due to the lack of other broadband internet options. In addition, satellite internet can provide web access in remote areas where broadband is difficult to get, such as deserts and mountains, increasing the demand for satellite internet in these areas. Also, internet users can now get better speed and bandwidth due to advancements in satellite internet technology. As a result, these services are quickly adopted in emerging economies such as India, Brazil, philippines, malaysiaand more driving market expansion.
Increasing government programs for the adoption of advanced satellite internet services to develop a digitized economy and provide improved public safety and security drive the market growth. In addition, several governments are significantly funding satellite internet companies to provide broadband services to rural populations in emerging countries, driving market growth. For example, In October 2022 The UK government has invested 14.62 million dollars in UK companies to improve satellite communications technology. The Advanced Research in Telecommunications Services (ARTES) and the European Space Agency (ESA) finance this investment. This investment focuses on the development of new satellite configurations and ground infrastructure or the provision of internet services to customers.
Satellite Internet market segmentation
Grand View Research has segmented the global satellite internet market based on frequency band, industry and region:
Satellite Internet Market – Frequency Band Outlook (Revenue, USD Million, 2017-2030)
Satellite Internet Market: Industry Outlook (Revenue, USD Million, 2017-2030)
Satellite Internet Market: Regional Outlook (Revenue, USD Million, 2017-2030)
middle east & Africa
List of key players in the Satellite Internet market
Check out more related studies published by Grand View Research:
Satellite communications market – The global satellite communications market size is projected to reach 159.6 million dollars in 2030, registering a CAGR of 9.5% between 2022 and 2030, according to a new report from Grand View Research, Inc. The increasing proliferation of small satellites for tactical communication, geospatial and atmospheric research, and medium-resolution imagery in military and defense applications has driven the market growth. Growing demand for satellite communication (Satcom) solutions from the aviation industry to improve airline operations and air traffic management is expected to drive market expansion during the forecast period.
Industrial Internet of Things market – The global Internet of Things market size is expected to reach USD 1.69 trillion by 2030, according to the latest report by Grand View Research, Inc. The market is expected to grow at a CAGR of 23.1% between 2022 and 2030. A strong emphasis on automation, predictive maintenance and effective supply chain management across various industry verticals. how manufacturing is driving industry growth.
Satellite data services market – It is expected to reach the global satellite data services market size 36.9 million dollars to 2027, showing a CAGR of 27.9% during the forecast period, according to a new report published by Grand View Research, Inc. The growing trend of privatization of space among companies is expected to drive growth. Widespread privatization is expected to provide satellite imagery users with a much deeper and more valuable insight into spatial imagery, thereby facilitating smarter decision-making.
Browse Grand View Research Communication services industry Research reports.
About Grand View Research
Grand View Research, a US-based market research and consulting firm, provides syndicated and customized research reports and consulting services. Registered in California and based in San Francisco, the company consists of more than 425 analysts and consultants, who add more than 1200 market research reports to its extensive database each year. These reports provide in-depth analysis of 46 industries in 25 major countries around the world. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities ahead.
Specialist in Corporate Sales, USA
Grand View Research, Inc.
Toll Free: 1-888-202-9519
Grand View Compass | Astra ESG Solutions
Follow us: LinkedIn | Twitter
SOURCE Grand View Research, Inc.