The space industry is entering a new era of innovation and investment, driven by reusable launch technologies, miniaturized satellites, and an insatiable demand for global connectivity. Low Earth orbit (LEO) and medium Earth orbit (MEO) constellations promise to bridge the digital divide, enable advanced applications, and unlock markets that were previously out of reach. Yet, despite the excitement, these solutions will take time to mature and deliver cost-effective connectivity at scale. This report explores the opportunities and limitations of satellite connectivity, helping business and technology leaders determine where it fits into their strategy — and when.