The satellite Internet market size is projected to reach US$ 23.82 billion by 2031 from US$ 4.52 billion in 2023. The market is expected to register a CAGR of 23.10% during 2023–2031. The use of machine learning (ML), artificial intelligence (AI), and cloud computing in the space industry are likely to remain key trends in the market.
The rising demand for high-speed internet connectivity for homes and offices is one of the major factors boosting the growth of the satellite internet market. In addition, the increasing need for high-speed connectivity for mission-critical and disaster-management applications and inflight Wi-Fi connectivity for commercial aviation and private jets is further boosting the demand for fast satellite internet. Also, the growing investment by the market players in this segment is further fueling the growth of the market. Moreover, the rising need for connectivity for education and infrastructure development projects in rural areas and by researchers and scientists in the Arctic region and oceans is creating an opportunity for the growth of the satellite internet market.
Satellite internet is the process of accessing the internet through communication satellites, usually geostationary satellites. It is location-independent and provides connection anywhere as it provides global coverage. It is the ideal solution for places where the internet quality is unreliable or poor or places where terrestrial internet connectivity is unavailable. In addition, it is an ideal solution for users who live in rural areas or remote areas. Also, it uses satellite dishes for two-way communication, because of which there is no need for land-based internet solutions such as telephone cables or lines. Moreover, compared to other internet options, it provides less or negligible network outages, making it an ideal option for remote areas.
The demand for high-speed internet connectivity is on the rise, particularly in non-connectivity areas. This increasing demand can be attributed to several factors, including the need for online education, telemedicine, and e-commerce services. Satellite internet is becoming more accessible and affordable, enabling local entrepreneurs to leverage digital technologies for innovation, job creation, and global market access.
As the need for satellites for high-speed connectivity in rural and remote areas is increasing, the investment for the development and launch of satellites is also growing tremendously. Various government authorities and companies have invested and are investing significantly in market growth. For instance, in November 2021, Fleet Space Technologies announced that they had raised US$ 26 million in funds for the expansion of the nanosatellite IoT connectivity fleet. Similarly, in April 2022, the German parliament announced that they would be investing US$ 10.51 million (10 million euros) in the small satellite initiatives. Also, in July 2023, Amazon announced that it would be investing US$ 120 million to build a satellite construction facility at NASA's Kennedy Space Center as part of its plans to launch a space internet service to rival SpaceX's Starlink.
Key segments that contributed to the derivation of the satellite internet market analysis are frequency band, and end user.
The geographic scope of the satellite internet market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
The market is witnessing tremendous growth due to the presence of various key companies in the region, which includes EchoStar Corporation, SpaceX, Telesat, and others. These market players are continuously working on providing innovative solutions to provide high-speed connectivity in the region. For instance, in July 2023, EchoStar launched a powerful new communications satellite atop a SpaceX Falcon Heavy rocket that will deliver broadband service across nearly 80% of North and South America. Such innovations by the market players will fuel the satellite internet market growth in North America.
The regional trends and factors influencing the Satellite Internet Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Satellite Internet Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2024 | US$ 5.56 billion |
| Market Size by 2031 | US$ 23.82 billion |
| Global CAGR (2025 - 2031) | 23.10% |
| Historical Data | 2021-2023 |
| Forecast period | 2025-2031 |
| Segments Covered |
By Frequency Band
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Satellite Internet Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Satellite Internet Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The satellite internet market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the satellite internet market are listed below:
The “Satellite Internet Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
The market is expected to grow at a CAGR of 23.1% over the forecast period.
The estimated value of satleite internet market is expected to reach US$ 23.82 billion by 2031.
EchoStar Corporation, SpaceX, Singtel Group, Freedomsat, and Viasat Inc. are among the leading satellite internet market.
The use of machine learning (ML), artificial intelligence (AI), and cloud computing in the space industry are likely to remain key trends in the market
The demand for high-speed internet connectivity is on the rise, particularly in non-connectivity areas. This increasing demand can be attributed to several factors, including the need for online education, telemedicine, and e-commerce services.
North America dominated the satellite internet market in 2023.