Connectivity brings together people, businesses, and countries located thousands of miles apart, driving forward changes in the way we work, live, and communicate. There is much more to connectivity than social media communication and video streaming. “The Internet of Things” is pushing business operations to make use of IoT-enabled devices, and leverage data and automation to develop better ways to manage day-to-day tasks.
Studies have shown that connectivity directly impacts the UK’s economy, presenting opportunities for capital growth. Connectivity accounted for 21% of the GDP growth in mature economies in 2011, a number that has grown year on year. However, due to the insufficient widespread access to the internet across the UK, it is estimated that the economy is still missing out on over £30 billion.
The Impact of Connectivity
Reliable internet access across developed countries has a strong influence on economic growth rates. Connectivity is responsible for seamless communications within trade, operations, business productivity, and much more.
Using the maritime industry as an example, an improvement in connectivity between any two nations will facilitate a rise in the value of bilateral trade. If there is an increase in the value of trade between these nations it will positively relate to domestic production and national output.
As a result of this apparent untapped growth, companies and governments are now actively investing in improving connectivity infrastructure.
Challenges with Traditional Connectivity
Deploying the required digital infrastructure to potentially access the beforementioned £30 billion in the UK is not straightforward. Industries such as maritime, as well as communities located in remote areas, often use traditional-hybrid models consisting of wired and wireless connections. Yet, this can see lengthy, difficult, and costly installations due to the complex groundworks required.
Although fibre cabling can offer consistent and dependable connectivity that has high throughput over long distances, the groundwork associated with this type of solution can take years to complete. These wired solutions can also be difficult to maintain, update and scale-up. The alternative wireless solutions such as 5G and 4G LTE offer secure, easily scalable, high speed, and low latency connections. However, in remote locations that suffer from poor network coverage, this solution may not always be possible. A reliable backhaul is a must – Low Earth Orbit (LEO) satellites have been designed to reach remote areas and help plug that gap in economic growth.
LEO satellites can offer connectivity to any location across the globe, with speeds 10 times faster than current market satcomms solutions. From a business perspective, this allows real-time communication and faster decision-making, creating opportunities for business growth as well as new SME ventures – something that has always been vital to growing the economy. In addition to this, the greatly reduced construction costs for implementing LEO satellite connectivity and simplified installation process further save on expenditure. In remote and rural settings, this opens up huge opportunities for the argriculture, energy, and maritime sectors in particular.
Other benefits include:
- High Speed / Low Latency
- Rapid deployment
- Minimal construction disruption
- Less susceptible to damage
- Materials are low in cost
To learn more about how LEO could transform your organisation, don’t hesitate to get in touch.