One of the most talked business professionals of the current era, Elon Musk, CEO of the world-renowned SpaceX, has reportedly announced bringing forth broadband satellite internet- Starlink-to the world.
As per credible reports, the space industry expert expects that company’s Starlink Internet service would grow up to become a USD 30 million a year business in the upcoming years. However, this claim remains an understatement while various other professionals believe that the service would observe a $72 billion market in the United States.
Speaking virtually at the LEO Digital Forum last week, Gwynne Shotwell, SpaceX President and CEO put forth its plans to lay focus on its Starlink service to deliver internet broadband to rural areas. Gwynne addresses the service as complementary to some of the terrestrial internet provides like AT&T and Comcast.
Moreover, through this service, the company is looking forward to emerging as a global business across the United States market.
Shotwell further explained that once Starlink is fully deployed, it would be able to provide every rural household in the country, or roughly to 60 million people in the rural provinces with satellite internet connection.
Furthermore, it has been claimed that amplifying the customer base by $99 per month, that SpaceX is currently charging for its beta service and multiplying it again by 12 months a year, results into the organization generating almost USD 72 billion annually. Apparently, this would be enough to ensure a successful IPO for the firm.
Commenting on USD 99 a month service price, Shotwell declared that the company, despite concerns being raised regarding the new internet service’s ability to sustain 100 Mbps in download bandwidth, has no plans to charge higher prices to speed up the tiers of service so as to balance its bandwidth supply.
She further mentioned that the firm is trying its best to keep the service as simple and transparent as possible.