Satellite Internet Market Dynamics, Understanding Demand and Supply Factors

Author : Jyoti Waghmare | Published On : 29 Nov 2024

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.

 

Gather more insights about the market drivers, restrains and growth of the Global Satellite Internet Market

 

Satellite Market Report 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

 

Browse through Grand View Research's Communication Services Industry Research Reports.

 

• 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.

• The global field service management market size was valued at USD 4.43 billion in 2022 and is expected to grow significant growth with a compound annual growth rate (CAGR) of 13.3% from 2023 to 2030

 

Segments Covered in the Report

 

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

    • U.S.

    • Canada

  • Europe

    • U.K.

    • 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.