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Satellite Internet Market Research Report: Information By Orbit (LEO, MEO/GEO Orbit), By Connectivity (Two Way Service, One Way Service, and Hybrid Connectivity), By Verticals (Commercial, Government & Defense), By Frequency (C-Band, L-Band, X-Band, Ka-Band, Ku-Band) And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) โ€“Market Forecast Till 2032.

ID: MRFR/ICT/17318-HCR | 128 Pages | Author: Aarti Dhapte| May 2024

Satellite Internet Market Overview

Satellite Internet Market Size was valued at USD 4.2 Billion in 2022. The Satellite Internet market industry is projected to grow from USD 5.6238 Billion in 2023 to USD 58.11 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 33.90% during the forecast period (2024 - 2032). The speed and dependability of satellite internet services are continuously being improved by providers, and the price of satellite internet has decreased recently are the key market drivers fueling the market growth.

Figure 1: Satellite Internet Market Size, 2024-2032 (USD Billion)

Satellite Internet Market Overview

Verticals: Secondary Research, Primary Research, MRFR Database and Analyst Review

Satellite Internet Market Trends

  • Military's growing demand for satellite internet is driving the market growth

Market CAGR for Satellite Internet is being driven by the military's growing demand for satellite internet. Satellite communication services offer secure bandwidth capacity for military operations conducted in remote areas with inadequate and unstable communications infrastructure. The revenue from Fixed Satellite Services (FSS) used in military and government applications is anticipated to rise dramatically in the next years. Commercial satellite technology is being incorporated into military communication networks by governments worldwide. This is the outcome of the government's stepped-up efforts to address the expanding demand for satellite internet for telecommuting across a range of applications, including communications on-the-go (COTM) and airborne intelligence, surveillance, and reconnaissance (AISR) (COTM). Satellite services are excellent at providing the dependable and ubiquitous coverage that these services require. These have a significant impact on the satellite internet market's expansion.

The lack of alternative connectivity options in rural areas is driving an increase in demand for satellite internet, which is revolutionizing global access. Its capacity to travel to far-off places—from deserts to hilly landscapes—solves the problem of internet accessibility. Interestingly, satellite technology provides high-speed internet, particularly in underserved areas historically. Developing countries in Asia and LAMEA are adopting these new technologies quickly because they increase speed and data capabilities. Compact and easy to use, modern satellite dishes have replaced bulky, antiquated counterparts, increasing access to global connectivity, particularly in remote and difficult-to-reach areas where traditional services are financially difficult to provide. In these areas, the market for satellite internet is expanding due to a combination of these factors.

The market for satellite internet is expanding significantly thanks to large investments. Acquiring $26.4 million in Series B funding in November 2021, Fleet Space Technologies demonstrated confidence in the potential of its cutting-edge nanosatellite technology for Internet of Things (IoT) efficiencies. New investors like Amazon joined this round, which valued the company at $126 million. Previous backers like Artesian Venture Partners also participated. Notably, Amazon strengthened its position in the market in July 2023 by spending $120 million to build a satellite construction facility at NASA's Kennedy Space Center. This move demonstrated Amazon's resolve to introduce a rival space internet service that would be comparable to SpaceX's Starlink. Thus, driving the Satellite Internet market revenue.

Satellite Internet Market Segment Insights

Satellite Internet Orbit Insights

The Satellite Internet market segmentation, based on Orbit includes LEO, MEO/GEO Orbit. The LEO segment dominated the market, accounting for 41% of market revenue (1.72 Billion). This is because mobile broadband connectivity worldwide is being revolutionized by satellite internet technology.

Satellite Internet Connectivity Insights

The Satellite Internet market segmentation, based on Connectivity includes Two Way Service, One Way Service, and Hybrid Connectivity. The Two-Way Service segment dominated the market, accounting for more than half of market revenue. Because it can communicate in both directions and download and upload data, Two-Way Service is the most popular. Its extensive connectivity makes it a top option for a variety of user needs, especially for applications that need real-time interactions.

Satellite Internet Verticals Insights

The Satellite Internet market segmentation, based on Verticals includes Commercial, Government & Defense, and Insect Derived. The commercial segment dominated the market, accounting for above one-third of market revenue. The demand for commercial applications and services is increasing due to the growing need for high-speed connectivity across various industries such as transportation, telecommunications, and agriculture. This is ultimately fueling the commercial sector's dominance in the global satellite Internet market.

Satellite Internet Frequency Insights

The global Satellite Internet market segmentation, based on Frequency includes C-Band, L-Band, X-Band, Ka-Band, Ku-Band. The Ka-band segment dominated the market, accounting for 39% of market revenue. This is due to radar systems used in broadcasting, security, and defense are increasingly using the K-band frequency.

Figure 2: Satellite Internet Market, by Frequency, 2022 & 2032 (USD Billion)

Satellite Internet Market, by Frequency, 2022 & 2032

Verticals: Secondary Research, Primary Research, MRFR Database and Analyst Review

Satellite Internet Regional Insights

By region, the study provides market insights into North America, Europe, Asia-Pacific, and Rest of the World. The North American Satellite Internet market area will dominate this market. Due to the presence of multiple players, the market is expected to experience increased competition due to its consolidation. This is due to both the region's increasing use of cutting-edge technologies—such as cloud-based, IoT, and AI technologies and the government's growing to spread satellite technology across North America. The people living in developed nations like the United States and Canada are extremely tech-savvy and reliant on the internet. This increases the need for high-speed internet, which ought to promote the expansion of local markets.

Further, the major countries studied in the market report are The US, Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.



Verticals: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe Satellite Internet market accounts for the second-largest market share due to a growing demand of high internet in remote and underserved areas and high adoption of innovative technologies. Further, the German Satellite Internet market held the largest market share, and the UK Satellite Internet market was the fastest-growing market in the European region

The Asia-Pacific Satellite Internet Market is expected to grow at the fastest CAGR from 2023 to 2032. The target market is expanding rapidly in the Asia Pacific area as a result of the expansion of satellite internet in the fields of government, military, broadcasting, and healthcare. Moreover, China’s Satellite Internet market held the largest market share, and the Indian Satellite Internet market was the fastest-growing market in the Asia-Pacific region.

Satellite Internet Key Market Players & Competitive Insights

Leading market players are investing heavily in research and development to expand their product lines which will help the Satellite Internet market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Satellite Internet industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global Satellite Internet industry to benefit clients and increase the market sector. In recent years, the Satellite Internet industry has offered some of the most significant advantages to Consumers. Major players in the Satellite Internet market, including Singtel Group, Freedomsat, EchoStar Corporation, Thuraya Telecommunications Company, Eutelsat Communications SA, and others, are attempting to increase market demand by investing in product development to increase their product line and cater to diverse consumer needs.

Leading telecommunications company Singtel, formally known as Singapore Telecommunications Limited, has its headquarters located in Singapore. Singtel is a major player in the telecom sector, but its satellite internet services are not its primary focus. Digital and satellite television, mobile, broadband, and fixed-line phone services are among the many communication services that Singtel primarily provides. With a significant presence throughout the Asia-Pacific area, the company has advanced Singapore's telecommunications infrastructure. Nonetheless, it is advised to consult the most recent corporate reports or official announcements for comprehensive and current details regarding Singtel's participation in satellite internet services. In May 2022, Singtel introduced iSHIP, a one-stop shop offering connectivity and digital services enabled by satellite for the maritime sector. Ship managers and owners now have a great deal more flexibility and visibility into their operations and resources thanks to this iSHIP service.

Global satellite provider Eutelsat has its headquarters in Paris, France, and focuses on offering satellite communication services all over the world. With a vast fleet of satellites across the globe, Eutelsat provides a variety of services, including internet connectivity through satellite broadband services. The business provides services to the government, enterprise, broadcasting, and telecommunications industries. Eutelsat is a significant participant in the satellite internet market because of its vital role in developing satellite technology and increasing connectivity. In Jully 2022, Sixty-eight OneWeb low Earth orbit satellites and Eutelsat's thirty-six GEO satellites were combined due to a partnership between the two companies. That allowed both of them to challenge SpaceX's hegemony in satellite internet by seizing the market for satellite connectivity.

Key Companies in the Satellite Internet Market Include

  • Singtel Group

  • Freedomsat

  • EchoStar Corporation

  • Thuraya TelecommuniLEOions Company

  • Eutelsat CommuniLEOions SA

  • SpaceX

  • OneWeb.net

  • Viasat, Inc.

  • Axess

  • DSL Telecom

Satellite Internet Industry Developments

October 2022: Axess announced a collaboration with Viasat. Because of its strategic partnership with AXESS Maritime, which will offer a range of products and services, Viasat's maritime operations will be able to reach a larger global audience.

August 2022: SpaceX Starlink and T-Mobile have partnered to introduce Coverage Above and Beyond, a new initiative to provide cell phone connectivity everywhere. To provide this service, the companies constructed a new network that will broadcast from Starlink satellites and utilize T-countrywide Mobile's mid-band bandwidth.

Satellite Internet Market Segmentation

Satellite Internet Orbit Outlook

  • LEO

  • MEO/GEO Orbit

Satellite Internet Connectivity Outlook

  • Two Way Service

  • One Way Service

  • Hybrid Connectivity

Satellite Internet Verticals Outlook

  • Commercial

  • Government & Defense

Satellite Internet Frequency Outlook

  • C-Band

  • L-Band

  • X-Band

  • Ka-Band

  • Ku-Band

Satellite Internet Regional Outlook

  • North America

    • US

    • Canada

  • Europe

    • Germany

    • France

    • UK

    • Italy

    • Spain

    • Rest of Europe

  • Asia-Pacific

    • China

    • Japan

    • India

    • Australia

    • South Korea

    • Australia

    • Rest of Asia-Pacific

  • Rest of the World

    • Middle East

    • Africa

    • Latin America

Report Attribute/Metric Details
Market Size 2022 USD 4.2 Billion
Market Size 2023 USD 5.6238 Billion
Market Size 2032 USD 58.11 Billion
Compound Annual Growth Rate (CAGR) 33.90% (2024-2032)
Base Year 2023
Market Forecast Period 2024-2032
Historical Data 2018- 2022
Market Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends
Segments Covered Orbit, Connectivity, Verticals, Frequency, and Region
Geographies Covered North America, Europe, Asia Pacific, and the Rest of the World
Countries Covered The US, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil
Key Companies Profiled Singtel Group, Freedomsat, EchoStar Corporation, Thuraya TelecommuniLEOions Company, Eutelsat CommuniLEOions SA, OneWeb.net, SpaceX, Viasat, Inc., Axess, DSL Telecom.
Key Market Opportunities The military's growing demand for satellite internet is driving the market growth
Key Market Dynamics Growing investment in satellite internet by the major players and governement

Frequently Asked Questions (FAQ) :

The global Satellite Internet market size was valued at USD 4.2 Billion in 2022.

The global market is projected to grow at a CAGR of 33.90% during the forecast period, 2023-2032.

North America had the largest share of the global market

The key players in the market are Singtel Group, Freedomsat, EchoStar Corporation, Thuraya Telecommunications Company, Eutelsat Communications SA, OneWeb.net, SpaceX, Viasat, Inc., and Axess.

The LEO category dominated the market in 2022.

The K-Band had the largest share in the global market.

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