The global satellite internet market size was valued at USD 8,231.47 million in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 13.6% from 2023 to 2030.
Satellite internet is a wireless network that covers satellite dishes in space and on Earth. It connects people in remote locations worldwide and provides access to up-to-date information. Satellite internet is accessed via high-speed network connectivity provided by satellites circling the Earth. It is faster than standard internet service and distinct from land-based broadband services such as digital subscriber line (DSL) and cable. Satellite communication provides a land-based interface with voice, video, and information that can be accessed anywhere on the planet.
Gather more insights about the market drivers, restrains and growth of the Satellite Internet Market
One of the most significant benefits of satellite internet for businesses is the ability to transmit a connection anywhere in the world at many megabits per second over remote locations such as oceans and mountains. On the other hand, a secure and private link can connect numerous remote places separated by considerable distances. Due to the absence of other broadband internet alternatives, demand for the satellite internet market is growing in rural areas. Additionally, satellite internet can provide access to the internet in remote regions like deserts and mountainous areas where it is difficult to access broadband, which increases the demand for satellite internet in these regions. Also, satellite internet technology provides customers with incredible speed and data. As a result, emerging economies such as India, Vietnam, and Malaysia are rapidly adopting these services, which in turn boosts the growth of the market.
The rise in government programs for the uptake of advanced satellite internet services to develop a digitized economy and enhance public safety & security drives the market growth. Furthermore, several governments are significantly funding companies to provide broadband services to rural populations across emerging countries, which is also considered a significant factor in boosting the market growth. For instance, In January 2020, the U.S. Federal Communications Commission (FCC) launched the Rural Digital Opportunity Fund to offer USD 20.4 billion for developing broadband networks in remote areas. The FCC granted USD 886 million in the first deployment phase to SpaceX, a satellite company. Furthermore, satellite broadband usage in smart cities is anticipated to create lucrative market opportunities in the near future. However, satellite internet's high implementation and maintenance costs restrain the market's growth.
Satellite Internet Market Segmentation
Grand View Research has segmented the global satellite internet market based on frequency band, industry, and region:
Frequency Band Outlook (Revenue, USD Million, 2017 - 2030)
• L-band
• C-band
• K-band
• X-band
Industry Outlook (Revenue, USD Million, 2017 - 2030)
• Energy & Utility
• Government & Public Sector
• Transport & Cargo
• Maritime
• Military
• Corporates/Enterprises
• Media & Broadcasting
• Others
Regional Outlook (Revenue, USD Million, 2017 - 2030)
• North America
o U.S.
o Canada
• Europe
o U.K.
o Germany
o France
o Italy
• Asia-Pacific
o China
o India
o Japan
o South Korea
• Latin America
o Brazil
o Mexico
• Middle East & Africa
Browse through Grand View Research's Communication Services Industry Research Reports.
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Key Companies & Market Share Insights
Major players operating in the market include Singtel Group, Freedomsat, EchoStar Corporation, Thuraya Telecommunications Company, Eutelsat Communications SA, OneWeb.net, SpaceX, Viasat, Inc., Axess, and DSL Telecom, among others. To broaden their product offering, several companies are adopting development strategies, such as partnerships, regular mergers, and acquisitions. For instance, In October 2022, Axess announced a partnership with Viasat. Viasat's maritime operations will be able to reach a wider global audience owing to its strategic relationship with AXESS Maritime, which will provide a variety of solutions and services. AXESS Maritime offers regional and international networks and provides the complete rotation from network infrastructure, deployment, implementation, ship monitoring, and round-the-clock global NOC support. Some of the prominent players in the global satellite internet market include:
• Singtel Group
• Freedomsat
• EchoStar Corporation
• Thuraya Telecommunications Company
• Eutelsat Communications SA
• OneWeb.net
• SpaceX
• Viasat, Inc.
• Axess
• DSL Telecom
Recent Developments
• In May 2022, Singtel launched iSHIP, an all-in-one platform providing satellite-enabled digital services and connectivity for the maritime industry. This service of iSHIP gave ship owners and ship managers substantial visibility and flexibility of their operations and resources
• In July 2022, Eutelsat Communications collaborated with OneWeb to combine Eutelsat’s 36 GEO satellites with OneWeb’s constellation of 648 low Earth orbit satellites. This enabled both the entities to capture the satellite connectivity market, and take on SpaceX's satellite internet dominance
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