India’s satellite broadband service market will reach $1.9 billion by 2030: Report

NEW DELHI: India’s satellite broadband service market is expected to be $1.9 billion (by value) by 2030, growing at a compound annual growth rate (CAGR) of 36%, according to a report by Deloitte India.

“The global satellite internet market size stood at US$3 billion in 20202 with India contributing to 3% of the market,” the audit and consulting firm said in the report. It noted that presently, satellite communication service in India is primarily a business-to-business (B2B) market with a focus on applications for rural connectivity, public protection and disaster relief, and machine-to-machine (M2M) connectivity for enterprises, among others.