Summary

The Satellite Internet Market is expected to grow at a strong CAGR of around 16% during the forecast period owing to the lack of traditional internet infrastructure, mobility, reliability, and other factors. Satellite internet is a type of internet service that provides users with connectivity through a network of communication satellites that orbit the Earth. It is typically used in areas where traditional terrestrial Internet infrastructure such as cable or digital subscriber lines is not available or where the cost of setting up the required infrastructure is prohibitive. Satellite internet has grown in popularity in recent years as more people seek reliable internet connections in areas where traditional broadband services are either unavailable or too slow. Demand for satellite internet is increasing for a variety of reasons, including the expansion of remote work and the need for connectivity in rural areas. Moreover, satellite internet is also becoming more affordable and accessible, contributing to its growing popularity. Further on, advances in technology have made satellite internet more affordable, and many providers now offer competitive pricing plans that rival traditional broadband services. The rapidly growing number of internet users around the globe is another factor subsidizing the growth of the market. For instance, according to the World Bank, in 2020, 60% of the world’s population was using the internet and this percentage increased to 69% (around 4.9 billion people) in 2022.

Some of the major players operating in the market include Singtel; EUTELSAT COMMUNICATIONS SA; Oneweb.net; SPACEX; Viasat, Inc.; EchoStar Corporation; Embratel; Airtel India; DSL Telecom; and Hispasat Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report
“Amongst band type, the K - band held a prominent share of the market in 2021”
Based on the band type, the market is segmented into C – band, X – band, L – band, K – band, and others. Amongst these, the K – band segment held the major share of the market in 2021. The use of K-band frequency is on the rise in various fields like defense, broadcasting, and security radar systems. An upcoming trend in K-band technology is K – band monolithic microwave integrated circuit (MMIC), which makes it possible to develop K-band power amplifiers and low-noise amplifiers at a lower cost, and with ease of large-scale production and high durability. This trend is expected to fuel the growth of the market in the predicted period.

“Amongst application, IoT segment held a dominating share of the market in 2021”
By application, the market is divided into video, connectivity, IoT, and others. Among these, the IoT application segment captured a significant share of the satellite internet market in 2021 and is expected to grow at a strong CAGR during the forecasted period owing to the rising applications of satellite internet in IoT and the growing number of IoT devices globally. In IoT applications, satellite internet can be used to connect various devices, including sensors, cameras, and other smart devices, to a central system or server for data analysis, storage, and control.

“North America dominated the market in 2021”
North America captured a dominating share of the market in 2021 and is expected to grow at a strong CAGR during the forecast period. One of the most prominent factors driving the growth of the market is the inadequate availability of traditional broadband services, particularly in rural areas where infrastructure is limited, and internet service providers are far away. This makes it difficult for residents to access high-speed internet. However, satellite internet provides an effective solution as it can be used to connect remote locations without the need for physical infrastructure. Further on, advancements in technology have made satellite internet more accessible and affordable.

Reasons to buy this report:
• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

Customization Options:
The global satellite internet market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

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