Satellite Internet Market Is Expected to Surpass a Market Valuation of US$ 6 Billion by 2031

During the projection period of 2021-2031, the satellite internet market is anticipated to surpass a market worth of US$ 6 billion and grow at a CAGR of more than 8%.

Over the past two decades, primarily as a result of the smartphone revolution, the internet has changed from a good to an amenity and then to a necessity. Although there were over 48% smartphone users in 2020, primarily urban residents were using the internet. Internet accessibility is available to 60% of the world's population, according to Fact.MR, a provider of market research and competitive intelligence, leaving approximately 4 out of 10 individuals without access to the internet. There is an uneven distribution of internet connectivity between urban and rural communities on every level.

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The readability score of the Satellite Internet Demand report is good as it offers chapter-wise layout with each section divided into a smaller sections.

The report encompasses graphs and tables to show the entire assembling. Pictorial demonstration of the definite and estimated values of key segments is visually appealing to readers.

This Satellite Internet outlook report explicates on vital dynamics such as the drivers, restraints and opportunities for key players and competitive analysis of Silage Covers along with key stakeholders as well as emerging players associated with the manufacturing of product.

Competitive Landscape:

A satellite can be considered as the work-horse of the whole satellite broadband ecosystem. Gaining expertise in its development and manufacturing provides a cost-effective and non-dependency advantage to satellite internet providers.
SpaceX is manufacturing its own satellites, whereas, on the other hand, other LEO satellite operators source their satellite manufacturing to external parties such as Airbus and Boeing. For instance, OneWeb has partnered with Airbus and Telesat sources it to Thales Alenia Space and Maxar. Amazon has made the announcement that they will be manufacturing their own satellites in a facility at Washington State, USA.

Minimum flexibility is available regarding the cost of satellites since it is proprietary information, but the study of deceleration by SpaceX suggests that the expenditure of building a satellite is below US$ 500,000. This is compared to HTS GEO satellites that cost around US$ 200 Mn for 10Gbps speed and US$ 700 Mn for around 1,000 Gbps.

Another factor that should be kept in mind is the life of LEO satellites, which is between 5-12 years, and for GEO satellites it is 15 years of service. Lowering down the cost is essential for long-term sustainability, since the process requires relaunching of a satellite after its service finishes.

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Key Takeaways from Market Study:

• Fact.MR estimates that satellite internet revenue will soar 2.2X from 2021 to 2031, reaching nearly US$ 6 Bn by 2031.
• As per Fact.MR's satellite internet industry insights, global market revenue is likely to total US$ 3.5 Bn in 2021.
• Demand for satellite internet is likely to gain pace due to its utilization in the deployment of 5G and IoT technology.
• Residential satellites are likely to increase their share to reach nearly 55% by 2031 as compared to 2020.

"Growing smart device penetration along with emergence of dynamic 5G is likely to propel satellite internet deployment," says a Fact.MR analyst.

Key Segments :

• By Frequency Band :
o L-band
o C-band
o Ka-band
o Ku-band
o S-band
o X-band

• By Bandwidth (Tbps) :
o Less than 15 Tbps
o 15-20 Tbps
o Above 20 Tbps

• By Orbit (Km) :
o Less Than 600 km
o 600-1200 km
o Above 1200 km

• By End User :
o Transportation
o Ships
o Trains
o Aircraft
o Others
o Military
o Residential
o Enterprises
o Telecommunication Industry
o Others

• By Region :
o North America
o Latin America
o Europe
o East Asia
o South Asia and Oceania
o MEA

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Key Question answered in the survey of Satellite Internet market report:

• Sales and Demand of Satellite Internet
• Growth of Satellite Internet Market
• Market Analysis of Satellite Internet
• Market Insights of Satellite Internet
• Key Drivers Impacting the Satellite Internet market
• Which are the Key drivers impacted by Satellite Internet market
• Restraints Shaping Market Growth
• Market Survey of Satellite Internet

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This release was published on openPR.