Dublin, Jan. 24, 2024 (GLOBE NEWSWIRE) -- The "Global Satellite Internet Market by Orbit (LEO, MEO/GEO), Connectivity (Two-Way Service, One-Way Service, Hybrid Service), Vertical (Commercial, Government and Defense), Frequency, Download Speed and Region - Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The Satellite Internet market, an integral part of advanced global communication systems, is witnessing unprecedented growth with a market valuation expected to surge from USD 4.0 billion in 2023 to USD 17.1 billion by 2028. This burgeoning sector, which is crucial for seamless, high-speed, and reliable connectivity, is forecast to grow at a Compound Annual Growth Rate (CAGR) of 33.7% from 2023 to 2028, according to a comprehensive new research report.
Rising Demand for Two-Way Connectivity and LEO Satellites Among Key Drivers of Market Expansion
With the world becoming more connected, the demand for robust internet connectivity is escalating. The report highlights the significant growth in Two-Way Satellite Internet Services, anticipated to register the highest growth during the forecast period. This elevation in market need is attributed to the growing requirement for high-bandwidth internet access and the challenges of terrestrial network expansions in remote areas.
In terms of satellite orbits, Low Earth Orbit (LEO) satellites are expected to witness the highest CAGR from 2023 to 2028. Innovations in satellite technologies and increased government investments mark a transformative period for the industry, as LEO satellites are increasingly deployed for their low-latency and high-throughput capabilities, essential for IoT applications and global connectivity.
- Market Drivers: Key drivers include the surging need for global connectivity and the advancements in LEO satellite deployments.
- Product Development: Innovations in satellite internet technology are enhancing global communication networks.
North America Dominates Satellite Internet Market; Booming Growth Expected
North America is projected to maintain its dominance in the Satellite Internet market from 2023 to 2028. This growth is driven by the region's ongoing demands for rural high-speed internet, technological advancements, and strategic government initiatives.
Comprehensive Market Analysis Facilitates Strategic Business Planning
The extensive report provides a pivotal tool for understanding the complex Satellite Internet market. The analysis covers a broad array of market aspects, from orbit classifications to connectivity types, and vertical market penetrations. Augmented by competitive assessments, growth strategies, and geographical market evaluations, this report crafts a detailed landscape for stakeholders to navigate through emerging opportunities and potential challenges.
- Market Penetration: The compilation of Satellite Internet offerings from top industry players is thoroughly covered.
- Market Development: Insights into lucrative and emerging regions highlight the global scale of the market.
- Market Diversification: The report sheds light on new product developments and untapped markets.
- Competitive Assessment: A close look at the strategies and positions of key market players.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 250 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $4 Billion |
| Forecasted Market Value (USD) by 2028 | $17.1 Billion |
| Compound Annual Growth Rate | 33.7% |
| Regions Covered | Global |
Companies Mentioned
- Abs Global Ltd.
- Amazon Kuiper
- Anuvu
- Ast Spacemobile
- Avanti Space
- Azercosmos
- Echostar Corporation
- Eutelsat
- Gilat Satellite Networks
- Globalstar
- Gogo
- Iridium Communications Inc.
- Kacific
- Kepler Communication
- Lockheed Martin Corporation
- Oneweb
- Ses S.A.
- Sky and Space Co.
- Sky Perfect Jsat Corporation
- Spacex
- Speedcast
- Spire Global
- Viasat
- Xona Space Systems
- Yahsat
For more information about this report visit https://www.researchandmarkets.com/r/8gtse4
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