PUBLISHER: The Business Research Company | PRODUCT CODE: 1436662
PUBLISHER: The Business Research Company | PRODUCT CODE: 1436662
Satellite internet is a wireless connection spread across multiple satellite dishes on Earth and in space, operating through communication with orbiting satellites via radio waves.
The primary types of satellite internet products include two-way satellite-only communication, one-way receiving, and one-way broadcast. Two-way satellite-only communication involves sending data from a remote contact site to a hub via a satellite. Various band types, including C-band, X-band, L-band, K-band, and others, cater to sectors such as commercial, residential, military, industrial, and more.
The satellite internet market research report is one of a series of new reports from The Business Research Company that provides satellite internet market statistics, including satellite internet industry global market size, regional shares, competitors with a satellite internet market share, detailed satellite internet market segments, market trends and opportunities, and any further data you may need to thrive in the satellite internet industry. This satellite internet market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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 increase during the historical period can be ascribed to the requirements of rural and remote connectivity, worldwide internet access, disaster recovery and emergency services, maritime and aviation connectivity, as well as 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 expansion anticipated in the forecast period is linked to an increasing demand for broadband services, the proliferation of low earth orbit (LEO) satellite constellations, connected vehicles, and Internet of Things (IoT), along with commercial and residential broadband solutions. Contributing factors include government initiatives and subsidies. Noteworthy trends expected in the forecast period involve integration with 5G networks, the emergence of cost-effective consumer terminals, a focus on solutions for rural connectivity, government initiatives for space-based connectivity, and advancements in satellite technologies.
The growth of the satellite internet market is being fueled by the rising demand for satellite internet in rural areas. Rural residents have long faced challenges accessing reliable internet services, often dealing with slow and unreliable connections. Satellite internet offers a cost-effective solution, avoiding the need for extensive fiber optic cable infrastructure. In November 2023, the Federal Communications Commission (FCC) reported that over 7.2 million homes and businesses lacked high-speed internet access. Viasat, in August 2022, highlighted that only 75% of rural homes had broadband internet. The unmet demand for fast and reliable internet in rural areas is a key driver of the satellite internet market's growth.
The satellite internet market is anticipated to experience growth due to the increasing demand in the residential sector. Residential areas, designed primarily for housing purposes, benefit from satellite internet's wide coverage, quick deployment, global accessibility, high-speed internet, and reliability. The United States Census Bureau reported a 13.8% increase in privately owned housing units approved by building permits in February 2023 compared to January. This rise in demand within the residential sector is a significant driver for the growth of the satellite internet market.
A notable trend is the increasing popularity of product innovations. Major companies within this sector are dedicated to developing novel products to reinforce their market position. For instance, in September 2022, Hughes Communications India Private Limited (HCI), a provider of broadband satellite and managed network services based in India, introduced the first High-Throughput Satellite (HTS) broadband service. This service aims to meet the high bandwidth requirements of various sectors, including cellular operators, financial institutions, government agencies, mining and energy corporations, and other enterprises. Utilizing the capabilities of the Indian space research organization (ISRO), the HTS broadband service facilitates connectivity in remote and challenging-to-reach areas, contributing to linking India to a future of expanded broadband access. The primary goal of the service is to provide multi-megabit high-speed broadband at reasonable prices.
The prominent companies in the satellite internet market are engaging in partnerships to develop novel products and enhance their market positions. Collaborations in this sector stimulate innovation, combine expertise, and expedite the development and commercialization of advanced technologies. For instance, in July 2023, Astrocast SA, a Switzerland-based company specializing in satellite Internet of Things (IoT) communication services, joined forces with Airbus Defense and Space SAS, a Germany-based manufacturer of defense and space products. This collaboration aims to advance satellite IoT (SatIoT) technology, reinforcing Airbus's commitment to technological advancement and leadership in the SatIoT market. The partnership focuses on improving bandwidth and service quality, allowing clients to customize their operational efficiency and enjoy enhanced data transfer capacity, efficiency, latency, and security.
In August 2021, Swarm Technologies, a provider of satellite internet connectivity based in the US, was acquired by SpaceX, a US-based aerospace company, for an undisclosed amount. This acquisition is expected to benefit Swarm's services by providing enhanced capitalization and access to additional resources available within SpaceX. The synergy resulting from being acquired by a company involved in satellite design, launch services, and manufacturing is anticipated to further support Swarm Technologies' growth in the satellite internet market.
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
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 countries covered in the satellite internet market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The satellite internet market includes revenues earned by entities by providing internet services that can be used to offer internet access services for remote areas or hard-to-reach areas since these areas lack physical infrastructures such as wireless radio connections, telephones, or fiber cables. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Satellite Internet Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on satellite internet market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for satellite internet ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The satellite internet market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.