According to Bis Research, The global space-based broadband internet market is estimated to reach $52.33 billion in 2031, at a compound annual growth rate (CAGR) of 20.64% during the forecast period 2021-2031. The major driving factors for the huge revenues generated by the companies are the increase in demand for worldwide broadband internet access for information, entertainment, and commerce, and technological advancements toward developing next-generation communication satellite constellations.
Space-based broadband internet is the internet service provided utilizing communication satellites. The latest consumer-grade satellite internet service is provided to individual users through low Earth orbit (LEO), medium Earth orbit (MEO), and geostationary Earth orbit (GEO) that offer relatively higher speeds with the help of new satellites using Ku and Ka bands. Moreover, satellite internet constellations are being developed and launched to the LEO to enable low-latency connections from space.
The space-based broadband internet technology is gaining huge traction from governments and commercial consumers due to the increase in demand for round-the-clock connectivity solutions for various applications. Though the current telecommunications technology has developed several tools and systems to deliver the services, they often get the backlash against their lack of serviceability for remote locations and unstable connections due to harsh weather conditions.
The main challenge restricting the growth of the global space-based broadband internet market is high initial investment cost of equipment needed to provide services to end users.
Growth Factors in Space-Based Broadband Internet Market:
Factors driving the growth of the global space-based broadband internet market are increase in demand for worldwide broadband internet access for information, entertainment, and commerce and technological advancements toward developing next-generation communication satellite constellations.
The potential opportunities that are likely to boost the growth of the space-based broadband internet market are opportunities toward building a hyper-connected world with reliable connectivity.
Global Space-Based Broadband Internet Market by Application:
The aviation industry is estimated to dominate the global space-based broadband internet market due to the high penetration rate in various countries that use broadband internet services solutions for smooth operations and in-flight connectivity services.
Global Space-Based Broadband Internet Market by End User:
The commercial end users segment is expected to be the front runner in the global space-based broadband internet market mainly due to the wide range of product offerings that are being used for maritime, aviation, enterprise, and agriculture, among others.
Global Space-Based Broadband Internet Market by Region:
North America is expected to account for the highest share of the global space-based broadband internet to market, owing to a significant number of companies operating in the region. The companies based in North America often supply international customers based in Europe, Asia-Pacific, Latin America, and the Middle East and Africa.
Key Market Players:
Airbus S.A.S., Amazon, BridgeComm, Inc., Eutelsat Communications SA, Gilat Satellite Networks, Hughes Network Systems, LLC, Intelsat, L3Harris Technologies, Inc., OneWeb, SES S.A., ST Engineering iDirect, Inc., Starlink, Swarm Technologies, Inc., Telesat, Viasat, Inc.
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Key Questions Answered in the Report
• What are the key strategies implemented by the players to sustain in this emerging market?
• Which region is expected to be leading the global space-based broadband internet market by 2031?
• What are the futuristic trends in this market, and how is the market expected to change over the forecast period 2021-2031?
• What are the key drivers, challenges, and opportunities faced by the companies working in the global space-based broadband internet market?
• What are the major government initiatives that are increasing the demand for satellite internet connectivity?
• What is the current and future revenue scenario of this market?
• Which are the segments and applications that are expected to dominate the market share during the forecast period?
About BIS Research:
BIS Research (Business Intelligence and Strategy Research) is a global B2B market intelligence and advisory firm focusing on those emerging technological trends which are likely to disrupt the dynamics of the market.
With over 150 market research reports published annually, BIS Research focuses on high technology verticals such as 3D Printing, Advanced Materials and Chemicals, Aerospace and Defense, Automotive, Healthcare, Electronics and Semiconductors, Robotics and UAV, and other emerging technologies.
Our in-depth market intelligence reports focus on the market estimations, technology analysis, emerging high-growth applications, deeply segmented granular country-level market data, and other important market parameters useful in the strategic decision-making for senior management.
What distinguishes BIS Research from the rest of the players is that we don’t simply provide data but also complement it with valuable insights and actionable inputs for the success of our clients.
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