Satellite Internet Market to Reach $18.59 billion by 2030 – Trends and Growth, Segmentation and Key Companies
Increased adoption of AI, machine learning (ML) and cloud computing in the space sector is expected to provide lucrative opportunity for the market.
PORTLAND, PORTLAND, OR, UNITED STATE, September 7, 2022 /EINPresswire.com/ — According to a new report published by Allied Market Research, titled, “Satellite Internet Market by Band Type (C-band, X-band, L-band, K-band, and Others) and End User (Commercial Users and Individual): Global Opportunity Analysis and Industry Forecast, 2020–2030” The report has offered an all-inclusive analysis of the global Satellite Internet Market taking into consideration all the crucial aspects like growth factors, constraints, market developments, top investment pockets, future prospects, and trends. At the start, the report lays emphasis on the key trends and opportunities that may emerge in the near future and positively impact the overall industry growth.
The global satellite internet market size generated $2.93 billion in 2020, and is estimated to generate $18.59 billion by 2030, witnessing a CAGR of 20.4% from 2021 to 2030
Key drivers that are propelling the growth of the market included in the report. Additionally, challenges and restraining factors that are likely to curb the growth of the market are put forth by the analysts to prepare the manufacturers for future challenges in advance.
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Surge in need for satellite internet in rural areas, advancement in communication technology across the globe, and growth in supportive government regulation across developing nations drive the growth of the global satellite internet market. However, implementation and maintenance cost of satellite broadband communication system hinder the market growth. On the other hand, rise in adoption of artificial intelligence (AI), machine learning, and cloud computing in space sector create new opportunities in the coming years.
Impact of COVID-19 on Satellite Internet Market-
• The need for providing a host of voice, data, and broadcast communications solutions for organizations, government customers, and consumers around the globe has augmented the demand for satellite internet during COVID crisis.
• In addition, the companies and governments are collaborating to provide a number of initiatives to offer community and employee support during the pandemic.
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The report offers detailed segmentation of the global satellite internet market based on band type, end user, and region.
Based on end user, the commercial user segment accounted for the highest market share in 2020, contributing to nearly three-fourths of the global satellite internet market, and is projected to maintain its leadership status during the forecast period. However, the individual segment is estimated to witness the highest CAGR of 22.3% from 2021 to 2030.
Based on band type, the C-band segment held the largest market share in 2020, accounting for more than two-fifths of the total share, and is estimated to maintain its lead position during the forecast period. However, the K-band segment is expected to manifest the largest CAGR of 22.7% from 2021 to 2030.
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Based on region, North America contributed to the highest market share in 2020, accounting for nearly two-fifth of the total market share, and is projected to maintain its dominant share in terms of revenue by 2030. However, Asia-Pacific is expected to witness the largest CAGR of 22.4% during the forecast period.
Leading players of the global satellite internet market analyzed in the research include Embratel, Eutelsat Communications SA, Freedomsat, Hughes Network Systems, LLC, OneWeb, Singtel, Skycasters, SpaceX, Viasat, Inc, and Wireless Innovations, Ltd. These players have adopted various strategies to increase their market penetration and strengthen their foothold in the satellite internet industry.
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Key Benefits
• The report provides a qualitative and quantitative analysis of the current satellite internet market trends, forecasts, and market size from 2021 to 2030 to determine the prevailing opportunities.
• Porter’s Five Forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make strategic business decisions and determine the level of competition in the industry.
• Top impacting factors & major investment pockets are highlighted in the research.
• The major countries in each region are analyzed and their revenue contribution is mentioned.
• The market report also provides an understanding of the current position of the market players active in the satellite internet industry.
Highlights of the Report
Competitive landscape of the satellite internet market.
Revenue generated by each segment of the satellite internet market by 2030.
Factors expected to drive and create new opportunities in the satellite internet industry.
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Lastly, this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.
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Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services, and insights on markets across 11 industry verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market domains. We are equipped with skilled analysts and experts, and have a wide experience of working with many Fortune 500 companies and small & medium enterprises.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies. This helps us dig out market data that helps us generate accurate research data tables and confirm utmost accuracy in our market forecasting. Every data company in the domain is concerned. Our secondary data procurement methodology includes deep presented in the reports published by us is extracted through primary interviews with top officials from leading online and offline research and discussion with knowledgeable professionals and analysts in the
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