Major players in the satellite internet market are ViaSat, EchoStar Corporation, Freedomsat, Singtel, Inmarsat, Skycasters, Iridium Communications, Thaicom Public, Starlink, AT&T, SES S. A. , and Telesat.
New York, June 06, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Satellite Internet Global Market Report 2022" - https://www.reportlinker.com/p06284129/?utm_source=GNW
The global satellite internet market is expected to grow from $4.09 billion in 2021 to $4.83 billion in 2022 at a compound annual growth rate (CAGR) of 18.2%. The satellite internet market is expected to grow to $8.10 billion in 2026 at a CAGR of 13.8%.
The satellite internet market consists of sales of satellite internet by entities (organizations, sole traders, and partnerships) that refers to the wireless connection that is spread across the multiple satellite dishes which are located both on earth and in space.Satellite internet operates by communicating with satellites orbiting the Earth via radio waves.
It is usually used in remote areas or hard-to-reach areas since these areas lack physical infrastructures such as wireless radio connections, telephones, or fiber cables.
The main types of products in satellite internet include two-way satellite-only communication, one-way receive, and one-way broadcast.Two-way satellite-only communication can send data from a remote contact site via a satellite, then to a hub.
The different band types include C-band, X-band, L-band, K-band, and others and involve various sectors such as commercial, residential, military, industrial, and others.
North America was the largest region in the satellite internet market in 2021. The regions covered in the satellite internet market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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.
For instance, according to a Federal Communications Commission (FCC) report, at the end of 2019, 17% of rural residents and 21% of those who live on tribal lands lacked even the slowest definition of high-speed internet access, compared with about 1% in urban areas. Therefore, the unmet demand for fast and reliable internet in rural areas is increasing and is driving the growth of the satellite internet market.
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, which is capable of both, transmitting and receiving the 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.
In August 2021, SpaceX, a US-based aerospace company acquired Swarm Technologies for an undisclosed amount.Through this acquisition Swarm’s services will gain from better capitalization and access to more resources that are available to SpaceX, along with the synergies associated with acquisition by a provider of satellite design, launch services, and manufacture.
Swarm Technologies is a US-based company that provides satellite internet connectivity.
The countries covered in the satellite internet market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
Read the full report: https://www.reportlinker.com/p06284129/?utm_source=GNW
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