Satellite Internet Market to grow by USD 4.48 billion between 2022 - 2027, Growth Driven by Growing Usage of IoT devices - Technavio
NEW YORK, Oct. 6, 2023 /PRNewswire/ -- The Satellite Internet Market report has been added to Technavio's offering. With ISO 9001:2015 certification, Technavio has proudly partnered with more than 100 Fortune 500 companies for over 16 years. The potential growth difference for the satellite internet market between 2022 and 2027 is USD 4.48 billion. A growing number of IoT devices is one of the major factors driving the growth of the global satellite internet market. Mobile edge computing is evolving with the integration of IoT devices. The devices include routers, integrated access devices, routing switches, multiplexers, cloud services and resources, and various wide-area network access devices. Furthermore, the proximity of users allows the use of available resources on satellite internet and by connecting directly to the network edge, Satellite Internet will enable billions of connected IoT devices to run compute-intensive applications in real-time in end-user industries. Hence, such factors drive market growth during the forecast period. Get deeper insights into the market size, current market scenario, future growth opportunities, major growth driving factors, the latest trends, and much more. Buy the full report here
Market Challenge -
- The influence of bad weather on satellite internet is a major challenge impeding the growth of the global satellite internet market.
- There are some satellite internet systems, which shut down when the weather gets too hot. For instance, Starlink, one of SpaceX Exploration Technologies Corp, developed and operated a satellite internet constellation that shuts down when the temperature reaches 122 degrees Fahrenheit and restarts when the temperature drops to 104 degrees Fahrenheit.
- Thus, it is quite a challenge for people living in hot climates, and the temperature limitation could effectively render satellite internet systems useless during periods of high temperatures.
- This forces vendors to focus on developing satellite internet systems that can easily adjust to different climatic conditions.
- Hence, bad weather can be a major limiting factor for the growth of the global satellite internet market during the forecast period.
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The satellite internet market is segmented by End-user (Commercial and Non-commercial), Type (K-band, X-band, L-band, and C-band), and Geography (North America, Europe, APAC, South America, and Middle East and Africa).
- By End-user, the market share growth by the commercial segment will be significant for overall market growth during the forecast period. Governments worldwide are increasingly investing in satellite broadband technology to provide broadband services in all regions and depend only on frontline technology to connect rural areas to the broadband network in the segment. For example, in September 2022, Hughes Communications India announced the commercial release of the HTS internet service in India, which combines ground-based Hughes Jupiter Platform technology with the K-band satellite frequency on GSAT-29 and GSAT-11. The service is operated by the Indian Space Research Organization (ISRO) to provide high-speed internet connectivity all over India. Hence, such factors drive segment growth during the forecast period.
- By Geography, North America is estimated to contribute 45% to the growth of the global market during the forecast period. View the FREE Sample Report for insights into the contribution of all the segments and regional opportunities in the report.
Key Companies in the Satellite Internet Market:
ASELSAN AS, AT and T Inc., AXESS Network Solutions S.L., Cobham Ltd., EchoStar Corp., General Dynamics Corp., Honeywell International Inc., Hytera Communications Corp. Ltd., Israel Aerospace Industries Ltd., Indra Sistemas SA, Inmarsat Global Ltd., L3Harris Technologies Inc., Leonardo Spa, Marlink SAS, Raytheon Technologies Corp., SES SA, Singapore Telecommunications Ltd., SITA, Space Exploration Technologies Corp., Thaicom Public Co. Ltd., Thales Group, Viasat Inc.
Related Reports:
The 5G Internet of Things (IoT) market size is estimated to grow at a CAGR of 106.67% between 2022 and 2027. The market size is forecast to increase by USD 77,586.17 million.
Internet Of Things Security Market size is estimated to grow by USD 114.33 billion between 2022 and 2027 accelerating at a CAGR of 30.44% during the forecast period.
ToC:
Executive Summary
Market Landscape
Market Sizing
Historic Market Sizes
Five Forces Analysis
Market Segmentation by End-user
Market Segmentation by Type
Market Segmentation by Geography
Customer Landscape
Geographic Landscape
Drivers, Challenges, & Trends
Company Landscape
Company Analysis
Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio
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