The Satellite Internet Global Market Report 2023 by The Business Research Company, provides satellite internet market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.
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According to The Business Research Company’s Satellite Internet Global Market Report 2023, the market size is expected to grow from $4.85 billion in 2022 to $5.61 billion in 2023 at a compound annual growth rate (CAGR) of 15.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the satellite internet is expected to grow to $9.39 billion in 2027 at a CAGR of 13.7%.
The rise in the need for satellite internet in rural areas is contributing to the growth of the satellite internet market. People residing in rural areas have struggled to gain access to reliable internet services. The internet service in rural areas is often slow and unreliable. Satellite internet service is less expensive than constructing millions of kilometers of fiber optic cable, and it’s perfect for rural and hard-to-reach places.
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The satellite internet market is segmented:
1) By Product: Two-Way Satellite-Only Communication, One-Way Receive, One-Way Broadcast
2) By Band Type: C-Band, X-Band, L-Band, K-Band , Other Band Types
3) By End User: Commercial, Residential, Military, Industrial, Other End Users
Product innovations have emerged as a key trend gaining popularity in the satellite internet market. Major companies operating in the satellite internet sector are focused on developing new product innovations to strengthen their position. For instance, in August 2020, in Kenichi Okada’s lab at Tokyo Tech, a new transceiver was developed that is capable of both transmitting and receiving signals. This device is designed specifically for space internet technology, at only 3 mm (0.118 inches). The transceiver can communicate with satellites over 22,000 miles above the earth’s atmosphere and has numerous improvements on both the transmitting and receiving sides of the business.
The satellite internet market report table of contents includes:
1. Executive Summary
2. Satellite Internet Market Characteristics
3. Satellite Internet Market Trends And Strategies
4. Satellite Internet Market – Macro Economic Scenario
5. Satellite Internet Market Size And Growth
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26. Africa Satellite Internet Market
27. Satellite Internet Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Satellite Internet Market
29. Satellite Internet Market Future Outlook and Potential Analysis
30. Appendix
Top Major Players:
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