Value of Satellite Modem Market 6.0% CAGR to 2023 Led by Offshore Communication: North America Projected Largest Market Share in 2016
The satellite modem market is expected to grow from $296.4 Million in 2017 to $420.4 Million by 2023 at a CAGR of 6.0% between 2017 and 2023 driven by rising need for enriched high-speed data communication and growing demand for satellite communication from various verticals.
Pune, India – September 15, 2017 /MarketersMedia/ —
The satellite modem market in APAC to grow at a high rate between 2017 and 2023. In APAC, the telecommunication and oil & gas industries are expected to drive the satellite modem market.
Browse 64 Market Data Tables and 46 Figures spread through 163 Pages and in-depth TOC on “Satellite Modem Market – Global Forecast to 2023”
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Furthermore, with the growth of the Long-Term Evolution (LTE) technology in Asian countries and the growth of broadband services in rural areas, satellite services would have a high demand in the region not only for coverage but also for the acquisition of new customers. Hence, the growth of satellite-based backhauling and 4G rollout would create major opportunities for the satellite modem market in APAC.
The satellite modem market is driven by the continuous innovation by satellite modem manufacturers to ensure the growth of the market, rising need for enriched high-speed data communication, and growing demand for satellite communication from various verticals. However, the lack of international regulations on common protocols and communication standards for satellite modems is the major restraining factor for the growth of the satellite modem market.
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The increasing telecom connectivity within the region drives the demand for mobile and backhaul, and satellite-based backhaul. Also, with the growing Long-Term Evolution (LTE) technology in Asian countries and the growth of broadband services in rural areas, there would be a strong demand for satellite services in the region not only for coverage but also for acquiring new customers. Thus, the growth of satellite-based backhauling and 4G rollout offers a major opportunity for the satellite modem market in APAC.
Offshore communication expected to grow at the highest rate during the forecast period. Considering the nature of the offshore industry, satellite communications plays a crucial role in ensuring a high level of operational efficiency at offshore exploration and production facilities. This is especially critical in situations where companies are required to expand their exploration and production activities further into remote regions, where satellite networks are often the only feasible option for delivering reliable communication connectivity. To establish satellite communication connectivity between remote locations and the head office, high-speed data rate satellite modems are mainly deployed on offshore platforms.
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In the process of determining and verifying the market size for several segments gathered through secondary research, extensive primary interviews have been conducted with key industry people. The breakup of the profile of primary participants has been given below:
By Company Type: Tier 1 – 55%, Tier 2 – 25%, and Tier 3 – 20%
By Designation: C-Level Executives – 35%, Directors – 25%, and Others – 40%
By Region: North Americas – 40%, Europe – 35%, APAC – 15%, and RoW – 10%
The report profiles the top players in the satellite modem market, alongwith providing their respective market ranking. Prominent players such as Newtec Cy N.V. (Belgium), Comtech EF Data Corporation (US), ViaSat Inc. (US), Datum Systems Inc. (US), and NovelSat (Israel)have been profiled in this report.
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Research Coverage:
The satellite modem market, by channel type, includes Single Channel Per Carrier (SCPC) and Multiple Channel Per Carrier (MCPC) modems.
The satellite modem market, by data rate, covers high-speed data rate, mid-range data rate, and entry-level data rate modems.
The satellite modem market, by application, comprises mobile & backhaul, IP trunking, offshore communication, and tracking & monitoring.
The satellite modem market, by end user, comprises energy & utilities, mining, telecommunication, marine, military & defense, transportation & logistics, and oil & gas.
The geographic analysis has been done with regard to North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW)
Reasons to Buy This Report:
From an insight perspective, this research report has focused on various levels of analysis—market ranking of top players, value chain analysis, company profiles that discuss basic views on the competitive landscape, emerging and high-growth segments of the satellite modem market, high-growth regions, and market dynamics—such as drivers, restraints, challenges, and opportunities.
The report provides insights on the following pointers:
Market penetration: Comprehensive information on satellite modems offered by the top players in the satellite modem market
Market development: Comprehensive information about lucrative emerging markets and analysis of the market for satellite modems across regions
Market diversification: Exhaustive information about new products, untapped geographies, and recent developments in the overall satellite modem market
Competitive assessment: In-depth assessment of market ranking, strategies, products, and leading players in the satellite modem market
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Source: MarketersMedia
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