Maritime Satellite Communication Market worth 3.10 Billion USD by 2020
The global maritime satellite communication market is expected to grow from USD 2.01 Billion in 2015 to USD 3.10 Billion by 2020, at a CAGR of 9.0% during the forecast period. Escalating need of enriched data communication to improve operation efficiency,
(EMAILWIRE.COM, July 21, 2017 ) According to new market research report the Global Maritime Satellite Communication Market is expected to grow to USD 3.10 Billion by 2020, at a CAGR of 9.0% over the forecast period.
Escalating need of enriched data communication and expansive application of satellite communication in maritime industry is driving the global maritime satellite communication market. Furthermore, introduction of less expensive technology to attract end users which did not had the potential to use satellite communication earlier.
For More Information Request PDF Brochure@ http://www.marketsandmarkets.com/pdfdownload.asp?id=113822978
Increasing need for enriched data communication drives the market growth of maritime satellite communication market
With the increase in sophistication and need of reliable data communications across remote marine regions, the scope of maritime satellite communication systems has increased. The growing communication needs of ships, vessels, rigs, and navel sector to maintain operational efficiency, on-board security, and employee/passenger welfare has resulted in increasing demand for bandwidth and data communication terminals. Furthermore, maritime satellite communication has increasing applications in maritime assistance, medical assistance, emergency calling, employee welfare, passenger assistance and enhanced maritime security, vehicle telemetry, marine vessel tracking, fleet management, and remote field service.
VSAT technology to play a key role in the maritime satellite communication market
The very small aperture terminal (VSAT) technology is estimated to dominate the maritime satellite communication market during the forecast period. At present, VSAT holds more than 61% share of the overall market. The rapid shift from mobile satellite communication (MSS) to VSAT is attributed to bandwidth and cost advantages that VSAT offers to marine users. At present, the penetration of VSAT across Ka-Band is maximum and this trend is expected to continue till 2020. On the other hand, the Ku-Band segment is expected to register the highest CAGR during the forecast period owing to increasing deployment of maritime satellite communication services across Ku-Band. With a share of over 29% in 2015, data communication services are expected to register the highest market share during the forecast period and video communication service segment will register the highest growth due to increasing use of video conferencing and entertainment-based applications.
Europe has emerged as the leading region in terms of adoption and implementation of maritime satellite communication services
Due to availability of cost-effective solutions, rapid adoption and deployment of maritime satellite communication is reported in North America and Asia-Pacific region. On the other hand, Latin America and Middle East & Africa regions are showing comparatively slow adoption. At present, North America has the second-largest share in the overall market, and is expected to dominate the global maritime satellite communication market by the end of 2020. Currently, merchant shipping end-user segment holds the highest market share due to its potential to rapidly adopt technological developments in communication technology.
The major players in the maritime satellite communication market covered in the report include Inmarsat communications, Inc., Iridium communications, Inc., Thuraya Telecommunications Company, Hughes Network System LLC., KVH Industries, Inc., VIASAT, Harris Caprock, Royal Imetech N.V., Globecomm Systems Inc., and VT iDirect, Inc. Some of the other players in the market are Speedcast, Navarino, NSSL Global, MTN, and Network Innovation.
The report provides market trends, overall adoption scenarios, and competitive landscape as well as key drivers, restraints, and opportunities in this market. It aims to estimate the current size and future growth potential of this market across different types, service, end user, and regions. The scope of the report also covers analysis of strategies such as new product launches, mergers & acquisitions, partnerships, agreements, and collaborations among key vendors in the maritime satellite communication market.
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Early buyers will receive 10% customization on reports.
About MarketsandMarkets
MarketsandMarkets is the world’s No. 2 firm in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to a multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.
M&M’s flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical infographics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.
We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.
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Escalating need of enriched data communication and expansive application of satellite communication in maritime industry is driving the global maritime satellite communication market. Furthermore, introduction of less expensive technology to attract end users which did not had the potential to use satellite communication earlier.
For More Information Request PDF Brochure@ http://www.marketsandmarkets.com/pdfdownload.asp?id=113822978
Increasing need for enriched data communication drives the market growth of maritime satellite communication market
With the increase in sophistication and need of reliable data communications across remote marine regions, the scope of maritime satellite communication systems has increased. The growing communication needs of ships, vessels, rigs, and navel sector to maintain operational efficiency, on-board security, and employee/passenger welfare has resulted in increasing demand for bandwidth and data communication terminals. Furthermore, maritime satellite communication has increasing applications in maritime assistance, medical assistance, emergency calling, employee welfare, passenger assistance and enhanced maritime security, vehicle telemetry, marine vessel tracking, fleet management, and remote field service.
VSAT technology to play a key role in the maritime satellite communication market
The very small aperture terminal (VSAT) technology is estimated to dominate the maritime satellite communication market during the forecast period. At present, VSAT holds more than 61% share of the overall market. The rapid shift from mobile satellite communication (MSS) to VSAT is attributed to bandwidth and cost advantages that VSAT offers to marine users. At present, the penetration of VSAT across Ka-Band is maximum and this trend is expected to continue till 2020. On the other hand, the Ku-Band segment is expected to register the highest CAGR during the forecast period owing to increasing deployment of maritime satellite communication services across Ku-Band. With a share of over 29% in 2015, data communication services are expected to register the highest market share during the forecast period and video communication service segment will register the highest growth due to increasing use of video conferencing and entertainment-based applications.
Europe has emerged as the leading region in terms of adoption and implementation of maritime satellite communication services
Due to availability of cost-effective solutions, rapid adoption and deployment of maritime satellite communication is reported in North America and Asia-Pacific region. On the other hand, Latin America and Middle East & Africa regions are showing comparatively slow adoption. At present, North America has the second-largest share in the overall market, and is expected to dominate the global maritime satellite communication market by the end of 2020. Currently, merchant shipping end-user segment holds the highest market share due to its potential to rapidly adopt technological developments in communication technology.
The major players in the maritime satellite communication market covered in the report include Inmarsat communications, Inc., Iridium communications, Inc., Thuraya Telecommunications Company, Hughes Network System LLC., KVH Industries, Inc., VIASAT, Harris Caprock, Royal Imetech N.V., Globecomm Systems Inc., and VT iDirect, Inc. Some of the other players in the market are Speedcast, Navarino, NSSL Global, MTN, and Network Innovation.
The report provides market trends, overall adoption scenarios, and competitive landscape as well as key drivers, restraints, and opportunities in this market. It aims to estimate the current size and future growth potential of this market across different types, service, end user, and regions. The scope of the report also covers analysis of strategies such as new product launches, mergers & acquisitions, partnerships, agreements, and collaborations among key vendors in the maritime satellite communication market.
<||>rnhttp://www.marketsandmarkets.com/Market-Reports/maritime-satellite-communication-market-113822978.html
Early buyers will receive 10% customization on reports.
About MarketsandMarkets
MarketsandMarkets is the world’s No. 2 firm in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to a multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.
M&M’s flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical infographics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.
We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.
MarketsandMarkets™ INC.
701 Pike Street
Suite 2175, Seattle,
WA 98101, United States
USA : 1-888-600-6441
UK : 44-800-368-9399
sales@marketsandmarkets.com
Contact Information:
MarketsandMarkets™
Mr. Rohan
Tel: 1-888-600-6441
Email us
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MarketsandMarkets™
Mr. Rohan
Tel: 1-888-600-6441
Email us
----
This press release is posted on EmailWire.com -- a global newswire that provides Press Release Distribution Services with Guaranteed Results