Fri. Sep 29th, 2023
Satellite Internet Market Size Projection

The Satellite Internet market is projected to reach a value of USD 17.1 billion by 2028, exhibiting a Compound Annual Growth Rate (CAGR) of 33.7% during the forecast period. The market is expected to grow from USD 4.0 billion in 2023 to USD 17.1 billion in 2028.

Satellite Internet is an integration of satellite communication and non-terrestrial networks that aims to provide enhanced connectivity and enable various applications across different sectors. By utilizing advanced satellite systems, such as low Earth orbit (LEO), Satellite Internet extends the capabilities of terrestrial 5G networks to remote and challenging environments. This integration allows for high-speed, low-latency connectivity to support critical communications and applications in sectors like telecommunication, media, entertainment, business, retail, aviation, marine vessels, transportation, logistics, and scientific research and development.

The Satellite Internet market includes services such as Satellite, User Terminal, and end-user service. Globally established players dominating the market include SpaceX, Oneweb, Viasat, EchoStar, SES S.A., and Iridium, among others.

One of the key drivers for the Satellite Internet market is the increasing demand for global connectivity. Satellite technology provides a viable solution to bridge the digital divide and connect remote and underserved regions where terrestrial infrastructure is limited or non-existent. Satellite internet services also play a crucial role in disaster management and emergency response scenarios by providing immediate connectivity when terrestrial networks are disrupted. Advancements in satellite technology, such as high-capacity satellite constellations and improved bandwidth capabilities, further contribute to the adoption of satellite internet services worldwide.

In North America, the Satellite Internet market is expected to have the largest share from 2023 to 2028. Factors driving market growth in this region include the demand for high-speed internet in rural and remote areas, the surge in streaming services, online gaming, and the expansion of the Internet of Things (IoT).

Overall, the Satellite Internet market is poised for significant growth in the coming years due to the increasing need for global connectivity and advancements in satellite technology.