Growing Use Adoption To Fuel Sales of Satellite Internet Market During Forecast Period 2022 – 2031 : Fact.MR

ICT companies are extensively adopting technologies such as cloud computing and artificial intelligence to ensure seamless operations as teams continue working from home. Focus on fast automation, use of real-time operation within various end-use sectors such as automotive, food & beverage and others will provide stimulus to the growth.

The report offers actionable and valuable market insights of Satellite Internet. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Satellite Internet Market across various industries and regions.

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The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Satellite Internet market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of Satellite Internet

The satellite internet market is expected to surpass a market valuation of US$ 6 Billion and expand at a CAGR of more than 8% during the forecast period, 2021-2031.

This newly published and insightful report sheds light on Market Insights of Satellite Internet, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Satellite Internet Market.

Evaluating the Competition Landscape and their Core Competencies

Companies from the United States, Canada, Russia, China, India, and Europe are running the next space race in the commercial field. Companies such as SpaceX, Telesat, LeoSat, OnWEeb, Kepler, SES (O3b), Space Norway, and many others are a few of the frontrunners. Recently, Amazon and Facebook have also announced their entry into this field.

• Starlink (SpaceX)

As per reports, in 2018 March, SpaceX received its FCC approval for the launch of a 4,425 satellite constellation with both, Ku- and Ka-band. Further, in November 2018, they received approval for more 7,518 satellites that use V-band.

• OneWeb

OneWeb is a company with the second-highest number of satellites launched in space, with 254 in total, as of July 2021. OneWeb is joint venture between Airbus and OneWeb. The company was founded in 2012, and raised over US$ 3 Bn.

• Telesat

Canadian Telesat started its operations in 1969, and they carry strategic experience in satellite communication. The company started planning for satellite internet in 2016 and announced that they will be launching around 120 satellites. Then later, in 2018, they launched their first LEO satellite and began testing in 2021.

• Kuiper

Newcomer Amazon announced its project Kuiper in 2019. In the same year, the company announced that the total cost of the project will be approximately more than US$ 10 Bn. The project is supported by Blue Origin reusable rockets.

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Key Takeaways from Market Study

• Fact.MR estimates that satellite internet revenue will soar 2.2X from 2021 to 2031, reaching nearly US$ 6 Bn by 2031.
•  As per Fact.MR’s satellite internet industry insights, global market revenue is likely to total US$ 3.5 Bn in 2021.
• Demand for satellite internet is likely to gain pace due to its utilization in the deployment of 5G and IoT technology.
• Residential satellites are likely to increase their share to reach nearly 55% by 2031 as compared to 2020.

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Winning Strategy

Launching a satellite internet service for a wide horizon of users, such as for residential use, all-level enterprises, federal governments, etc., is likely to fetch more revenue. For instance, comparing Telesat with Starlink, the former business model aims at delivering services to only government clients and B2B customers, whereas, the latter is planning to provide services to everyone across the globe.

Starlink has started its beta version testing, which is almost at the end of its testing phase, and the service will be for commercial purposes. Similarly, the company is in talks with the U.S. Department of Military for the adoption of its services.

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