The North America Satellite Internet Market would witness market growth of 21.3% CAGR during the forecast period (2022-2028).
The demand for satellite internet is anticipated to be driven by rising internet use, especially in wealthy economies. In 2019, 56.7% of the world's population had internet access, according to World Bank figures. As a result, it is anticipated that rising internet usage will propel industry expansion.
Additionally, over the past 20 years, the growth of the satellite internet market has been significantly accelerated by several technological advancements like 5G, the Internet of Things (IoT), blockchain, cloud services, and Artificial Intelligence (AI), among many others. More than 4.5 billion people were actively using the internet as of April 2021.
Additionally, market expansion, productivity gains, R&D spending, and other global economic movements have all been significantly influenced by the ICT industry's evolution. The provisioning of goods and services by the ICT sector also aids in economic development.
The Government of Canada and Telesat worked together to build Telesat's LEO Satellite Constellation to offer low-cost, high-speed Internet connectivity in Canada's remote and rural towns. With an investment from the Canadian government of up to $600 million (CAD), the collaboration is expected to generate $1.2 billion (CAD) in revenue for Telesat over ten years. This will assist the business in establishing a cutting-edge communications architecture that provides high-speed broadband services that are simultaneously accessible and affordable across Canada and the rest of the world.
The US market dominated the North America Satellite Internet Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $2,882.7 million by 2028. The Canada market is poised to grow at a CAGR of 24.1% during (2022 - 2028). Additionally, The Mexico market would witness a CAGR of 23% during (2022 - 2028).
Based on Frequency Band, the market is segmented into K-band, X-band, C-band, and L-band. Based on Industry, the market is segmented into Government & Public Sector, Military, Media & Broadcasting, Maritime, Energy & Utility, Transport & Cargo, Corporates/Enterprises, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Satellite Internet Market is Predict to reach $10.5 Billion by 2028, at a CAGR of 21.9%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Singapore Telecommunications Limited (Temasek Holdings (Private) Limited), Hughes Network Systems, LLC (EchoStar Corporation), Viasat, Inc., OneWeb (Network Access Associates Ltd.), Bentley Walker Ltd. (Freedomsat), Thuraya Telecommunications Company PJSC (Al Yah Satellite Communications Company PJSC) (Mamoura Diversified Global Holding PJSC), Eutelsat S.A., Space Exploration Technologies Corp., AXESS Network Solutions S.L., and DSL Telecom.
By Frequency Band
By Industry
By Country
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