Surge in need for satellite internet in rural areas, advancement in communication technology across the globe, and growth in supportive government regulation across developing nations drive the growth of the global satellite internet market. However, implementation and maintenance cost of satellite broadband communication system hinder the market growth. On the other hand, rise in adoption of artificial intelligence (AI), machine learning, and cloud computing in space sector create new opportunities in the coming years.
The global satellite internet market generated $2.93 billion in 2020, and is estimated to generate $18.59 billion by 2030, witnessing a CAGR of 20.4% from 2021 to 2030. The report provides a detailed analysis of changing market dynamics, key segments, value chain, top investment pockets, regional scenario, and competitive landscape.
Key players in the satellite internet market:
Leading players of the global satellite internet market analyzed in the research include Embratel, Eutelsat Communications SA, Freedomsat, Hughes Network Systems, LLC, OneWeb, Singtel, Skycasters, SpaceX, Viasat, Inc, and Wireless Innovations, Ltd. These players have adopted various strategies to increase their market penetration and strengthen their foothold in the satellite internet industry.
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Segmental review of the satellite internet market:
Based on band type, the C-band segment held the largest market share in 2020, accounting for more than two-fifths of the total share, and is estimated to maintain its lead position during the forecast period. However, the K-band segment is expected to manifest the largest CAGR of 22.7% from 2021 to 2030.
Based on end user, the commercial user segment accounted for the highest market share in 2020, contributing to nearly three-fourths of the global satellite internet market, and is projected to maintain its leadership status during the forecast period. However, the individual segment is estimated to witness the highest CAGR of 22.3% from 2021 to 2030.
Based on region, North America contributed to the highest market share in 2020, accounting for nearly two-fifth of the total market share, and is projected to maintain its dominant share in terms of revenue by 2030. However, Asia-Pacific is expected to witness the largest CAGR of 22.4% during the forecast period.
By government & public sector, the satellite internet market was led by the law enforcement agencies in 2020, and is projected to maintain its dominance during the forecast period. Various governments are providing law enforcement agencies to connect their mobile phones to satellite broadband systems, which help officer’s access files and records instantaneously in an emergency situation or crime scene incident, which is expected to fuel the growth of the market. However, the public health organizations are also expected to grow significantly during the forecast period, owing to increase in satellite internet connections in rural areas.
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