Satellite Internet Market Report 2031 by Segments, Geography, Dynamics, Recent Developments, and Strategic Insights

Coverage: Satellite Internet Market covers analysis By Frequency Band (L-band, C-band, K-band, and X-band), and End User (Commercial, Residential, and Government), and Geography

  • Report Code : TIPRE00030082
  • Category : Technology, Media and Telecommunications
  • No. of Pages : 150
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The satellite Internet market size is projected to reach US$ 23.82 billion by 2031 from US$ 4.52 billion in 2023. The market is expected to register a CAGR of 23.10% during 2023–2031. The use of machine learning (ML), artificial intelligence (AI), and cloud computing in the space industry are likely to remain key trends in the market.

Satellite Internet Market Analysis

The rising demand for high-speed internet connectivity for homes and offices is one of the major factors boosting the growth of the satellite internet market. In addition, the increasing need for high-speed connectivity for mission-critical and disaster-management applications and inflight Wi-Fi connectivity for commercial aviation and private jets is further boosting the demand for fast satellite internet. Also, the growing investment by the market players in this segment is further fueling the growth of the market. Moreover, the rising need for connectivity for education and infrastructure development projects in rural areas and by researchers and scientists in the Arctic region and oceans is creating an opportunity for the growth of the satellite internet market.

Satellite Internet Market Overview

Satellite internet is the process of accessing the internet through communication satellites, usually geostationary satellites. It is location-independent and provides connection anywhere as it provides global coverage. It is the ideal solution for places where the internet quality is unreliable or poor or places where terrestrial internet connectivity is unavailable. In addition, it is an ideal solution for users who live in rural areas or remote areas. Also, it uses satellite dishes for two-way communication, because of which there is no need for land-based internet solutions such as telephone cables or lines. Moreover, compared to other internet options, it provides less or negligible network outages, making it an ideal option for remote areas.

Strategic Insights

Satellite Internet Market Drivers and Opportunities

Demand for High-Speed Internet Connectivity to Favor Market

The demand for high-speed internet connectivity is on the rise, particularly in non-connectivity areas. This increasing demand can be attributed to several factors, including the need for online education, telemedicine, and e-commerce services.  Satellite internet is becoming more accessible and affordable, enabling local entrepreneurs to leverage digital technologies for innovation, job creation, and global market access.

Growing Investments in Satelites Internet

As the need for satellites for high-speed connectivity in rural and remote areas is increasing, the investment for the development and launch of satellites is also growing tremendously. Various government authorities and companies have invested and are investing significantly in market growth. For instance, in November 2021, Fleet Space Technologies announced that they had raised US$ 26 million in funds for the expansion of the nanosatellite IoT connectivity fleet. Similarly, in April 2022, the German parliament announced that they would be investing US$ 10.51 million (10 million euros) in the small satellite initiatives. Also, in July 2023, Amazon announced that it would be investing US$ 120 million to build a satellite construction facility at NASA's Kennedy Space Center as part of its plans to launch a space internet service to rival SpaceX's Starlink.

Satellite Internet Market Report Segmentation Analysis

Key segments that contributed to the derivation of the satellite internet market analysis are frequency band, and end user.

  • Based on frequency band, the satellite internet market is bifurcated into L-band, C-band, K-band, and X-band. The K-band segment held a larger market share in 2023.
  • By end user, the market is segmented into commercial, residential, and government. The commercial segment held the largest share of the market in 2023.

Satellite Internet Market Share Analysis by Geography

The geographic scope of the satellite internet market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.

The market is witnessing tremendous growth due to the presence of various key companies in the region, which includes EchoStar Corporation, SpaceX, Telesat, and others. These market players are continuously working on providing innovative solutions to provide high-speed connectivity in the region. For instance, in July 2023, EchoStar launched a powerful new communications satellite atop a SpaceX Falcon Heavy rocket that will deliver broadband service across nearly 80% of North and South America. Such innovations by the market players will fuel the satellite internet market growth in North America.

Satellite Internet Market Report Scope

Satellite Internet Market News and Recent Developments

The satellite internet market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the satellite internet market are listed below:

  • Intellian Technologies Inc. and OneWeb announced a new product portfolio of Intellian Flat Panel user terminals for use on OneWeb’s network. Intellian’s Flat Panel Series is a suite of both Pro and Compact user terminals that deliver exceptional performance in sleek, small-footprint, and lightweight form factors. It is particularly designed for Land Fixed, Land Mobile, Maritime and Government markets (Source: Intellian Technologies Inc., Press Release, September 2023)
  • Astrocast announced that they are extending its partnership with Airbus Defence and Space. The expanded partnership enhances the capabilities of satellite Internet of Things (SatIoT) technology, enabling Astrocast to increase its network capacity to provide SatIoT solutions to its customers. (Source: Astrocast, Press Release, July 2023)

SATELLITE INTERNET Market Report Coverage and Deliverables

The “Satellite Internet Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:

  • Satellite Internet market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
  • Satellite Internet market trends as well as market dynamics such as drivers, restraints, and key opportunities
  • Detailed PEST/Porter’s Five Forces and SWOT analysis
  • Satellite Internet market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
  • Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the Satellite Internet market
  • Detailed company profiles
REGIONAL FRAMEWORK

Satellite Internet Market Report Analysis

Satellite Internet Market

  • CAGR (2023 - 2031)
    23.10%
  • Market Size 2023
    US$ 4.52 billion
  • Market Size 2031
    US$ 23.82 billion

Report Coverage

  • Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
  • Key future trends
  • Detailed PEST/Porter’s Five Forces and SWOT analysis
  • Industry landscape and competition analysis & recent developments
  • Detailed company profiles
  • Global and regional market analysis covering key market trends, major players, regulations, and recent market developments

Key Players

  • ?EchoStar Corporation
  • SpaceX
  • Singtel Group
  • Freedomsat
  • Viasat Inc
  • Inmarsat Global Limited
  • OneWebare
  • EarthLink
  • Telesat

Regional Overview

  • North America
  • Europe
  • Asia-Pacific
  • South and Central America
  • Middle East and Africa

Market Segmentation

By Frequency Band
  • L-band
  • C-band
  • K-band
  • X-band
By End User
  • Commercial
  • Residential
  • Government
  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
MARKET PLAYERS

Satellite Internet Market Report Scope

Report Attribute Details
Market size in 2023 US$ 4.52 billion
Market Size by 2031 US$ 23.82 billion
Global CAGR (2023 - 2031) 23.10%
Historical Data 2021-2022
Forecast period 2023-2031
Segments Covered By Frequency Band
  • L-band
  • C-band
  • K-band
  • X-band
By End User
  • Commercial
  • Residential
  • Government
Regions and Countries Covered North America
  • US
  • Canada
  • Mexico
Europe
  • UK
  • Germany
  • France
  • Russia
  • Italy
  • Rest of Europe
Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
South and Central America
  • Brazil
  • Argentina
  • Rest of South and Central America
Middle East and Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of Middle East and Africa
Market leaders and key company profiles
  • ?EchoStar Corporation
  • SpaceX
  • Singtel Group
  • Freedomsat
  • Viasat Inc
  • Inmarsat Global Limited
  • OneWebare
  • EarthLink
  • Telesat
    • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
    Report Coverage
    Report Coverage

    Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

    Segment Covered
    Segment Covered

    Frequency Band, and End User

    Regional Scope
    Regional Scope

    North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

    Country Scope
    Country Scope

    This text is related
    to country scope.

    Frequently Asked Questions


    Which region dominated the satellite internet market in 2023?

    North America dominated the satellite internet market in 2023.

    What are the driving factors impacting the satellite internet market?

    The demand for high-speed internet connectivity is on the rise, particularly in non-connectivity areas. This increasing demand can be attributed to several factors, including the need for online education, telemedicine, and e-commerce services.

    What are the future trends of the satellite internet market?

    The use of machine learning (ML), artificial intelligence (AI), and cloud computing in the space industry are likely to remain key trends in the market

    Which are the leading players operating in the satellite internet market?

    EchoStar Corporation, SpaceX, Singtel Group, Freedomsat, and Viasat Inc. are among the leading satellite internet market.

    What would be the estimated value of the satellite internet market by 2031?

    The estimated value of satleite internet market is expected to reach US$ 23.82 billion by 2031.

    What is the expected CAGR of the satellite internet market?

    The market is expected to grow at a CAGR of 23.1% over the forecast period.

    The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

    1. Data Collection and Secondary Research:

    As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

    Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

    1. Primary Research:

    The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

    For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

    A typical research interview fulfils the following functions:

    • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
    • Validates and strengthens in-house secondary research findings
    • Develops the analysis team’s expertise and market understanding

    Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

    • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
    • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

    Below is the breakup of our primary respondents by company, designation, and region:

    Research Methodology

    Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

    1. Data Analysis:

    Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

    • 3.1 Macro-Economic Factor Analysis:

    We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

    • 3.2 Country Level Data:

    Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

    • 3.3 Company Profile:

    The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

    • 3.4 Developing Base Number:

    Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

    1. Data Triangulation and Final Review:

    The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

    We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

    We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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