Satellite Internet Market: Current Analysis and Forecast (2022-2028)

Satellite Internet Market: Current Analysis and Forecast (2022-2028)
Satellite internet is a wireless connection distributed over multiple satellite antennas both on the ground and in space. They provide valuable access to core networks in remote areas of the planet. This keeps the user connected and gives him access to the latest information and communication systems. Satellite internet is often used in remote, difficult-to-reach areas. These regions do not have wireless radio links or physical infrastructure such as telephones or fiber optic cables. Satellite internet is being used as a substitute for mainstream wireless internet.

The Satellite Internet Market is expected to grow at a strong CAGR of around 16% during the forecast period owing to the rapid uptake of satellite services by numerous emerging countries' police, fire, and other departments, as well as the global growth of communication technology. Additionally, the increased adoption of artificial intelligence (AI), machine learning (ML), and cloud computing in the space sector is further expected to contribute to market growth. The introduction of satellite broadband in smart cities and connected cars helps in enhancing public safety. Hence, the rapidly increasing investment in smart city projects is also helping the market to grow. For instance, According to the SmartAmerica Challenge, city governments in the U.S. alone will invest around USD 41 trillion over the next two decades to upgrade their infrastructure and take advantage of IoT technology.Based on the band type, the market is segmented into C – band, X – band, L – band, K – band, and others. Amongst these, the K – band segment held the major share of the market in 2021. The use of K-band frequency is on the rise in various fields like defense, broadcasting, and security radar systems. An upcoming trend in K-band technology is K – band monolithic microwave integrated circuit (MMIC), which makes it possible to develop K-band power amplifiers and low-noise amplifiers at a lower cost, and with ease of large-scale production and high durability. This trend is expected to fuel the growth of the market in the predicted periodBy application, the market is divided into video, connectivity, IoT, and others. Among these, the IoT application segment captured a significant share of the satellite internet market in 2021 and is expected to grow at a strong CAGR during the forecasted period owing to the rising applications of satellite internet in IoT and the growing number of IoT devices globally. In IoT applications, satellite internet can be used to connect various devices, including sensors, cameras, and other smart devices, to a central system or server for data analysis, storage, and controlOn the basis of industry, the market is segmented into energy & utility, government, maritime, military, and others. The government segment catered to a significant share of the satellite internet market in 2021. Governments around the world use satellite internet for a variety of purposes. One of the primary uses of satellite internet is to provide connectivity to remote areas where terrestrial infrastructure is not available. This can include government offices, military bases, and other facilities located in remote regions. By using satellite internet, governments can establish a reliable communication network, even in areas with no access to traditional internet servicesFor a better understanding of the market adoption of the satellite internet industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, and the Rest of North America), Europe (Germany, U.K., France, Italy, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. For a better understanding of the market adoption of the telecom billing software industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, and the Rest of North America), Europe (Germany, U.K., France, Italy, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. North America captured a dominating share of the market in 2021 and is expected to grow at a strong CAGR during the forecast period. One of the most prominent factors driving the growth of the market is the inadequate availability of traditional broadband services, particularly in rural areas where infrastructure is limited and internet service providers are far away. This makes it difficult for residents to access high-speed internet. However, satellite internet provides an effective solution as it can be used to connect remote locations without the need for physical infrastructure. Further on, advancements in technology have made satellite internet more accessible and affordableSome of the major players operating in the market include Singtel; EUTELSAT COMMUNICATIONS SA; Oneweb.net; SPACEX; Viasat, Inc.; EchoStar Corporation; Embratel; Airtel India; DSL Telecom; and Hispasat"