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

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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.

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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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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

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SOURCE Technavio