Satellite Internet Market Size, Share Analysis, Global Report 2024-2033

The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Satellite Internet Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $9.79 billion In 2028 At A CAGR Of 13.1% :

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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Satellite Internet Market Major Segments
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

Key Driver - Empowering Rural Connectivity As Satellite Internet's Crucial Role In Bridging The Digital Divide

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.

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Prominent Trend - Groundbreaking High-Throughput Satellite Broadband Service To Bridge Connectivity Gaps

Product innovations have emerged as a key trend gaining popularity in the satellite internet market. Major companies operating in the satellite internet sector are focused on developing new product innovations to strengthen their position. For instance, in September 2022, Hughes Communications India Private Limited (HCI), an India-based provider of broadband satellite and managed network services, launched first High-Throughput Satellite (HTS) broadband service. The new broadband service will satisfy the high bandwidth needs of cellular operators, financial institutions, government agencies, mining and energy corporations, and other enterprises while also addressing connectivity gaps and enhancing network performance. The service powers vital government and business networks by utilizing the capabilities of the Indian space research organization (ISRO). The HTS broadband service would enable broadband connectivity to even the most rural and challenging-to-reach places, helping to link India to an endless future. Multi-megabit high-speed broadband at reasonable prices is the service's main goal.

Satellite Internet Market 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

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Largest And Fastest Growing Region In The Market
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.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Satellite Internet Market Report Structure
3. Satellite Internet Market Trends And Strategies
4. Satellite Internet Market - Macro Economic Scenario
5. Satellite Internet Market Size And Growth
…..
27. Satellite Internet Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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