The Satellite Phone Market Will Register A CAGR Of Over 4% By 2023

Presently, satellites in geostationary orbit which are positioned more than 22,000 miles above the earth’s surface are used to provide satellite-based Internet services. However, the high latency due to the large distance makes satellite-based Internet inefficient for several applications such as video conferencing, live streaming, and gaming. Moreover, the high manufacturing and launching costs of the traditional large-size satellites makes satellite-based Internet services costly. The latency of satellite-based Internet services can be reduced to nearly 20-30 milliseconds by using the constellations of nano and microsatellites which are placed in LEO at around 680 miles from the surface of the earth. The latency provided by this infrastructure is comparable to that provided by broadband Internet solutions. This satellite-based Internet service is also less costly. Thus, the progression towards low-cost, satellite-based internet services is expected to drive the market growth during the forecast period. Technavio’s analysts have predicted that the satellite phone market will register a CAGR of over 4% by 2023. – PR Newswire