Satellite Internet Market Expected to Reach $18.59 Billion by 2030

According to the report published by Allied Market Research, titled, “Satellite Internet Market by Band Type and End User: Global Opportunity Analysis and Industry Forecast, 2021–2030.” the global satellite internet market size was valued at $2.93 billion in 2020, and is projected to reach $18.59 billion by 2030, growing at a CAGR of 20.4% from 2021 to 2030. Satellite internet is a type of wireless connection, which is used to provide end users with enhanced internet services by using satellite broadband connection.

Satellite internet system has various components, which include geostationary satellites, receivers, antennas, and sensors that work together to send the signals in the communication channel. Furthermore, it offers various features, such as voice over internet and access to high-definition audio and video in remote areas, which drive the growth of the market. In addition, satellite broadband can be easily installed anywhere, which offers effective communication channels during the time of relief operations at the time of natural disaster and calamities or in any emergency situation.

The key factors that drive the market include rise in demand for satellite internet among the rural areas and growing supportive government regulations across the developing nations, which boost the growth of the global satellite internet market. In addition, rise in adoption of satellite internet among SMEs positively impacts the growth of the market. However, factors, such as high implementation cost and high latency of signals, are expected to hamper the market growth. On the contrary, increasing adoption of IoT and AI-based satellite internet is expected to offer remunerative opportunities for the expansion of the market during the forecast period.

By government & public sector, the satellite internet market was led by the law enforcement agencies in 2020, and is projected to maintain its dominance during the forecast period. Various governments are providing law enforcement agencies to connect their mobile phones to satellite broadband systems, which help officer’s access files and records instantaneously in an emergency situation or crime scene incident, which is expected to fuel the growth of the market. However, the public health organizations are also expected to grow significantly during the forecast period, owing to increase in satellite internet connections in rural areas.

Public health organizations are able to connect to remote areas to provide medical support to the people. In addition, satellite broadband is very helpful for civil protection and humanitarian purposes as it helps government agencies to analyze and manage the causal factors of disasters and also helps in analyzing the risks for planning and implementing the preventive measures, which drives the growth of the market in this situation.

Region-wise, the satellite internet market was dominated by North America in 2020, owing to increase in adoption of advanced technologies such as IoT, artificial intelligence, and others. In addition, rise in government initiative for providing high-speed internet connectivity technology to protect individuals from natural incidences, such as flood, fire attack, and tsunami, propels the growth of the market. However, Asia-Pacific is expected to witness significant growth rate during the forecast period, owing to increase in satellite expansion activities in India and China.

In addition, countries, such as India, China, and Japan, are taking initiatives in the rapid deployment of 5G network across their countries, thereby driving the market growth. Furthermore, key players in Asia-Pacific are focusing on enhancing their operations and increasing their overall efficiency to stay competitive in the market, which is expected to provide lucrative opportunities for the growth of the market during the forecast period.

The outbreak of COVID-19 is anticipated to have a positive impact on the growth of the satellite internet market. Commercial satellites are playing a vital role during the COVID-19 pandemic as it is providing a host of voice, data and broadcast communications solutions for organizations, government customers and consumers across the globe. Moreover, it is helping people in remote and underserved regions connected with their teachers, doctors, employers, customers, friends and families which is providing lucrative opportunity for the market. Moreover, various governments across the globe are adopting satellite internet for providing a better internet and broadband facility for the people living in remote location which enhances the growth of the market.

The report focuses on the growth prospects, restraints, and trends of the global satellite internet market analysis. The study provides Porter’s five forces analysis to understand the impact of various factors, such as bargaining power of suppliers, competitive intensity of competitors, threat of new entrants, threat of substitutes, and bargaining power of buyers, on the global satellite internet industry.

Key Findings of the Study

• By band type, the C-band segment accounted for the highest satellite internet market share in 2020.
• By region, North America generated the highest revenue in 2020.

The key players operating in the global satellite internet market include Embratel, Eutelsat Communications SA, Freedomsat, Hughes Network Systems, LLC, OneWeb, Singtel, Skycasters, SpaceX, Viasat, Inc, and Wireless Innovations, Ltd. These players have adopted various strategies to increase their market penetration and strengthen their foothold in the satellite internet industry.