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The industry revenue for commercial satellites rose to $ 285 billion in 2023 . Accounting for 71 % of the world ’ s space business and providing increasingly capable services and connectivity , satellites are becoming more affordable and accessible . Over the past year , there has been a record number of satellites deployed in a growth segment that has been described by McKinsey as the $ 1.8 trillion opportunity . Space , it seems , has finally become the new frontier .
Traditionally , GEO has not always been the best connectivity choice . Relied on primarily by companies that do not have easy access to alternative connectivity solutions , satellite broadband has been expensive while offering limited bandwidth and poor latency . Its impressive reach is as much a benefit as a limitation . That was , until recently .
Partnerships are changing the shape of satellite broadband . This connectivity technology is evolving rapidly from a complex service with high costs to a solution for companies that are off-grid and require high availability and performance . Smart GEO technology satellite providers are handing companies exactly what they need .
And that is the ability to create VPNs and MPLS networks , prioritise applications , and access fast and reliable connectivity that meets their needs . If they want to slice and dice traffic , prioritise traffic , run a SD-WAN , shave off latency and build high-performance and cost-effective connectivity regardless of their location , now they can .
This new dimension to business satellite services offers companies real value on their investment . All too often , the conversation surrounding GEO satellites has been about the technology and the race into space . It is the who ’ s who of satellites arguing about their dominance in the market . The real conversation lies in the value this technology brings to the business on the ground .
More importantly , it is built to meet the expectations of South African companies in rural areas . Local means thinking out of the box . Businesses want to know how this satellite connectivity will be maintained , what support they will receive , what backups and fail-safes are included . They need to know if the technology is scalable and can realistically deliver the quality of broadband connectivity they need to run their business .
Kathleen Morris , Satellite Product Manager , Vox
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