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Satellite Internet Market size is set to grow by USD 4,476.69 million from 2022 to 2027, Growing number of IoT devices boost the market growth

NEW YORK, June 5, 2023 /PRNewswire/ — The global satellite internet market size is estimated to grow by USD 4,476.69 million from 2022 to 2027, according to Technavio. The market is estimated to grow at a CAGR of 16.85% during the forecast period. North America is estimated to account for 45% of the global market growth during the forecast period. The telecommunication sector in the region is expected to witness significant growth. This is due to the advancement in communication technology during the forecast period. Furthermore, the US is overcoming issues related to construction, operation, and maintenance costs in internet services. In addition, as the number of internet users grows rapidly in North America, the requirement for connectivity continues to evolve. Hence, the improving network infrastructure is propelling the growth of the market in focus during the forecast period. For more insights on the historic period (2017 to 2021) and forecast market size (2023 to 2027) – Request a sample report

Technavio has announced its latest market research report titled Global Satellite Internet Market 2023-2027

Technavio has announced its latest market research report titled Global Satellite Internet Market 2023-2027

What’s New?

  • Special coverage on the RussiaUkraine war; global inflation; recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession

  • Global competitiveness and key competitor positions

  • Market presence across multiple geographical footprints – Strong/Active/Niche/Trivial  – buy the report!

Satellite Internet Market – Segmentation Assessment
Segment Overview
Technavio has segmented the market based on end-user (commercial and non-commercial), type (K-band, X-band, L-band, and C-band), and geography (North America, Europe, APAC, South America, and Middle East and Africa).

  • The market share growth by the commercial segment will be significant for overall market growth during the forecast period. Governments worldwide are increasingly investing in satellite broadband technology to provide broadband services in all regions and depend only on frontline technology to connect rural areas to the broadband network in the segment. For example, in September 2022, Hughes Communications India announced the commercial release of the HTS internet service in India, which combines ground-based Hughes Jupiter Platform technology with the K-band satellite frequency on GSAT-29 and GSAT-11. The service is operated by the Indian Space Research Organization (ISRO) to provide high-speed internet connectivity all over India. Hence, such factors drive segment growth during the forecast period.

Insights on the market contribution of various segments including country and region wise historic data (2017 to 2021), and forecast market size (2023 to 2027) – Download a Sample Report

Satellite Internet Market – Market Dynamics
Key factor driving market growth

  • A growing number of IoT devices is one of the major factors driving the growth of the global satellite internet market. 

  • Mobile edge computing is evolving with the integration of IoT devices. The devices include routers, integrated access devices, routing switches, multiplexers, cloud services and resources, and various wide-area network access devices.

  • Furthermore, the proximity of users allows the use of available resources on satellite internet and by connecting directly to the network edge, Satellite Internet will enable billions of connected IoT devices to run compute-intensive applications in real-time in end-user industries.

  • Hence, such factors drive market growth during the forecast period.

Leading trends influencing the market 

  • The increasing deployment of 5G networks is an emerging trend influencing the global satellite internet market growth.

  • Communication service providers and network equipment manufacturers show increasing interest in deploying 5G communication standards, which offer higher bandwidth compared to previous standards, such as second-generation (2G), third-generation (3G), and fourth-generation (4G) networks.

  • Furthermore, 5G networks offer ultra-fast, low-latency internet connectivity, which allows companies to improve their performance.

  • Hence, such trends boost the market growth during the forecast period.

Major challenges hindering the market growth

  • The influence of bad weather on satellite internet is a major challenge impeding the growth of the global satellite internet market. 

  • There are some satellite internet systems, which shut down when the weather gets too hot. For instance, Starlink, one of SpaceX Exploration Technologies Corp, developed and operated a satellite internet constellation that shuts down when the temperature reaches 122 degrees Fahrenheit and restarts when the temperature drops to 104 degrees Fahrenheit.

  • Thus, it is quite a challenge for people living in hot climates, and the temperature limitation could effectively render satellite internet systems useless during periods of high temperature.

  • This forces vendors to focus on developing satellite internet systems that can easily adjust to different climatic conditions.

  • Hence, bad weather can be a major limiting factor for the growth of the global satellite internet market during the forecast period.

Insights on Market Drivers, trends, & Challenges, historic period(2017 to 2021), and forecast period(2023 to 2027)- Request a sample report!

What are the key data covered in this Satellite Internet Market report?

  • CAGR of the market during the forecast period

  • Detailed information on factors that will drive the growth of the satellite internet market between 2023 and 2027

  • Precise estimation of the size of the satellite internet market and its contribution to the market with a focus on the parent market

  • Accurate predictions about upcoming trends and changes in consumer behavior

  • Growth of the satellite internet market across North America, Europe, APAC, South America, and Middle East and Africa

  • A thorough analysis of the market’s competitive landscape and detailed information about vendors

  • Comprehensive analysis of factors that will challenge the growth of satellite internet market vendors

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Related Reports:

The narrowband-internet of things (NB-IoT) market size is estimated to grow at a CAGR of 31.01% between 2022 and 2027. The market size is forecast to increase by USD 1,841.04 million. This narrowband-internet of things (NB-IoT) market report extensively covers market segmentation by end-user (automotive, energy and utilities, healthcare, agriculture, and others), application (smart meters, smart parking, trackers, alarms and detectors, and wearable devices), and geography (North America, Europe, APAC, South America, and Middle East and Africa). The increasing adoption of smart city initiatives and connected devices is notably driving market growth.

The 5G Internet of Things (IoT) market size is estimated to grow at a CAGR of 106.67% between 2022 and 2027. The market size is forecast to increase by USD 77,586.17 million. This 5G IoT market report extensively covers market segmentation by type (5G non-standalone and 5G standalone), component (hardware, services, platform, and connectivity), and geography (APAC, North America, Europe, Middle East and Africa, and South America). The rising adoption of 5G is notably driving market growth.

Satellite Internet Market Scope

Report Coverage

Details

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 16.85%

Market growth 2023-2027

USD 4,476.69 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

16.46

Regional analysis

North America, Europe, APAC, South America, and Middle East and Africa

Performing market contribution

North America at 45%

Key countries

US, China, Japan, Russia, and France, Canada, Mexico, Italy,Spain, India, Japan, Australia, and South Korea

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

ASELSAN AS, AT and T Inc., AXESS Network Solutions S.L., Cobham Ltd., EchoStar Corp., General Dynamics Corp., Honeywell International Inc., Hytera Communications Corp. Ltd., Israel Aerospace Industries Ltd., Indra Sistemas SA, Inmarsat Global Ltd., L3Harris Technologies Inc., Leonardo Spa, Marlink SAS, Raytheon Technologies Corp., SES SA, Singapore Telecommunications Ltd., SITA, Space Exploration Technologies Corp., Thaicom Public Co. Ltd., Thales Group, and Viasat Inc.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of Contents

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by End-user

7 Market Segmentation by Type

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Vendor Landscape

12 Vendor Analysis

13 Appendix

About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com

Global Satellite Internet Market 2023-2027

Global Satellite Internet Market 2023-2027

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SOURCE Technavio