Satellite Internet Market
The market growth is driven by government plans to adopt advanced satellite internet services to develop digital economy and public security.
PORTLAND, OR, USA, March 6, 2024 /EINPresswire.com/ — Allied Market Research has released a new report titled “Satellite Internet Market Will Reach $18.59 Billion by 2030, Here’s the Market Key Factors Behind Growth”. The report provides an extensive analysis of key growth strategies, drivers, opportunities, key segments, Porter’s Five Forces analysis and competitive landscape. This study is a useful source of information for market players, investors, VPs, stakeholders, and new entrants that helps them gain a comprehensive understanding of the industry and identify steps to be taken to gain a competitive advantage.
The growth of the global satellite internet market is driven by surging demand for satellite internet in rural areas, advancements in global communications technology, and growth in supportive government regulations in developing countries. The increasing use of artificial intelligence (AI), machine learning and cloud computing in space will create new opportunities in the coming years.
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The global satellite Internet market size was US$2.93 billion in 2020 and is expected to reach US$18.59 billion by 2030, with a compound annual growth rate of 20.4% from 2021 to 2030.
The global satellite internet market is segmented on the basis of frequency band type, end-user, and region. By frequency band type, the market is divided into C-band, X-band, L-band, K-band, etc. According to end users, it is divided into commercial users and personal users. The commercial user segment is further segmented into law enforcement agencies, emergency response centers, and public health organizations. From a regional perspective, the market is analyzed across North America, Europe, Asia Pacific, and Latin America.
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From an end-user perspective, the commercial user segment held the highest market share in 2020, accounting for nearly three-quarters of the global satellite internet market and is expected to maintain its leadership position during the forecast period. However, individual market segments are expected to experience a compound annual growth rate of up to 22.3% from 2021 to 2030.
In terms of frequency band type, C-band held the largest market share in 2020, accounting for more than two-fifths of the total share, and is expected to maintain its leading position during the forecast period. However, the K-band segment is expected to grow at a CAGR of 22.7% from 2021 to 2030.
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Impact of COVID-19 on Satellite Internet Market-
● The need to provide a wide range of voice, data and broadcast communications solutions to global organizations, government customers and consumers during the COVID-19 crisis has increased demand for satellite internet.
● Additionally, companies and governments are collaborating on a range of initiatives to support communities and employees during the pandemic.
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Region-wise, North America contributed the highest market share in 2020, accounting for nearly two-fifths of the total market share, and is expected to maintain its dominance in terms of revenue by 2030. However, the Asia Pacific region is expected to register the highest CAGR of 22.4% during the forecast period.
Leading players in the global satellite internet market analyzed in the study include Embratel, Eutelsat Communications SA, Freedomsat, Hughes Network Systems, LLC, OneWeb, Singtel, Skycasters, SpaceX, Viasat, Inc, and Wireless Innovations, Ltd.
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Finally, this report provides the most comprehensive market intelligence. Preserve reporting structure to provide maximum business value. It provides important insights into market dynamics and will inform strategic decisions for existing market players as well as those willing to enter the market.
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