The global satellite internet market is estimated to grow at a CAGR of ~20% over the forecast period, i.e., 2022 – 2030. The market is segmented on the basis of end-user into commercial, and non-commercial, out of which, the commercial segment is anticipated to hold notable share during the forecast period owing to the increasing digitalization of all commercial activities, along with high penetration of internet in the commercial sector. Moreover, availability of high-speed data with broader signal is advantageous for the commercial end-use, which is estimated to boost the segment growth.
The global satellite internet market is projected to grow on the back of increasing demand for high-speed internet, backed by increasing users with access to internet. Moreover, satellite internet provides broader signal throughout a larger area, as it is provided by communication satellites. Moreover, increasing digitalization of all government and private procedures, along with rising investment by government agencies in the development of IT sector, are projected to boost the market growth.
Research Nester published a report titled “Satellite Internet Market: Global Demand Analysis & Opportunity Outlook 2030” which delivers a detailed overview of the global satellite internet market in terms of market segmentation by band type, end-user, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
On the basis of geographical analysis, the global satellite internet market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in the North America region is foreseen to gain the largest market share throughout the forecast period on account of the rising demand for internet access backed by rapid digitalization in developed nations, combined with presence of tech-savvy population and increasing adoption of advanced technologies in the region.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
Increasing Users of Internet Services to Boost the Market Growth
According to the data by the World Bank, 56.727% of the total population has access to internet globally, in 2019.
As more people are using internet for various purposes, the demand for higher speed and larger area coverage is increasing. Moreover, governments across the world are aiming to provide internet services in remote areas, where cable internet cannot reach.
These factors are estimated to raise the demand for satellite internet. Satellite internet does not require cable, unlike broadband connection, which is estimated to boost the market growth.
However, rising competition from fiber optics is expected to operate as key restraint to the growth of the global satellite internetmarket over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global satellite internet market which includes company profiling of OneWeb, Singapore Telecommunications Limited, Embratel, Skycasters, Space Exploration Technologies Corp. (SpaceX), Eutelsat Communications SA, Freedomsat, Hughes Network Systems, LLC, Wireless Innovations, Ltd., and Viasat, Inc. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments.
On the whole, the report depicts detailed overview of the global satellite internet market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
