Fri. Sep 29th, 2023
Satellite Internet Market Size and Dynamics

The market value of Satellite Internet is projected to reach USD 17.1 billion by 2028, with a CAGR of 33.7% during the forecast period. Satellite Internet aims to provide enhanced connectivity and enable a wide range of applications across various sectors through the integration of satellite communication and non-terrestrial networks. It leverages advanced satellite systems like low Earth orbit (LEO) to extend the capabilities of terrestrial 5G networks, providing high-speed, low-latency connectivity in remote and challenging environments. This technology supports critical communications and applications in sectors such as telecommunication, media, business, retail, aviation, transportation, and scientific research.

The market is dominated by global players such as SpaceX, OneWeb, Viasat, EchoStar, SES S.A., and Iridium. Increasing demand for global connectivity is driving the growth of the Satellite Internet market. Satellite technology offers a viable solution to bridge the digital divide and connect remote and underserved regions. It provides global coverage in areas where terrestrial infrastructure is limited, making it beneficial for industries like maritime, aviation, and rural areas. Satellite internet services also play a crucial role in disaster management and emergency response scenarios.

SpaceX, founded by Elon Musk in 2002, is an American aerospace manufacturer known for its achievements in space transport services and satellite manufacturing. Viasat Inc. is an American communications company specializing in broadband internet services and satellite-based aviation solutions. It serves a wide range of customers, including rural consumers, businesses, governments, and airlines.

In terms of regional market share, North America is expected to lead the Satellite Internet market from 2023 to 2028. The region’s advanced technological landscape, escalating demand for high-speed internet in rural and remote regions, and the surge in streaming services contribute to the growth of the market. Factors such as the emergence of high-throughput satellites, advancements in 5G integration, and increasing affordability further accentuate the growth potential of the satellite internet market in North America.