The Global Maritime Satellite Communication Market is expected to grow from USD 3.53 Billion in 2019, at a CAGR of 9.1% during the forecast period. It is anticipated that the increasing need for enriched data communication and extensive use of satellite communication in the maritime industry along with less expensive technology to attract end users who did not have the ability to use satellite communication initially will drive the market during the forecast period.
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Key Developments:
- In April 2019 ORBCOMM, a global provider of Machine-to-Machine (M2M) and Internet of Things (IoT) solutions, announced that the Australian Maritime Safety Authority (AMSA) has extended its contract for another year through ORBCOMM’s partner Kordia. ORBCOMM and Kordia, a leading provider of mission-critical technology solutions in Australia and New Zealand, will provide satellite Automatic Identification System (AIS) data used for ship tracking and other maritime navigational and safety efforts to AMSA for designated regions and specific maritime projects.
- On 25th March 2019, the British satellite communications company Inmarsat agreed to a takeover by a group led by the private equity firms Apax and Warburg Pincus, becoming the latest UK technology business to be sold to investment companies.
Companies Covered: Inmarsat communications, Inc., Iridium Communications, Inc., Thuraya Telecommunications Company, Hughes Network System LLC., KVH Industries, Inc., VIASAT, Harris Caprock, Royal Imtech N.V., Globecomm Systems Inc., and VT iDirect, Inc., Speedcast, Navarino, NSSL Global, MTN, and Network Innovation.
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Global Maritime Satellite Communication market Outlook (2021-2027)The report on the global Maritime Satellite Communication market gives a comprehensive market survey based on the data form the years 2015 to 2021 and gives a forecast for the markets up to the year 2027.
The market parameters and indicators have been used to study the data collected.
The assessment period of the report extends from 2021 to 2027 with the forecast of the market based on the market trend analysis.Request the Sample Copy Here @ https://www.reportsandmarkets.com/sample-request/global-maritime-satellite-communication-market-4106881?utm_source=manometcurrent_medium=47Key Players Profiles in This Research Report are– Inmarsat PLC., Network Innovation, Nsslglobal, Hughes Network Systems LLC, VT Idirect, Inc., MTN, Iridium Communications, Inc., Speedcast, Royal Imtech N.V., Harris Caprock Communications, Inc., KVH Industries, Inc., Thuraya Telecommunications Company, Navarino, Viasat, and Globecomm Systems Inc.Market SegmentationFor the purpose of the study, the Maritime Satellite Communication market was segmented into type, application, end user, and region.
The segmentation helped to understand how the Maritime Satellite Communication market penetration into the global market can be improved.
Rise in income of the population and growing interest of the people are reasons for the boost in demand in other regions.Market Segment by Regions, regional analysis coversNorth America (United States, Canada and Mexico)Europe (Germany, France, UK, Russia and Italy)Asia-Pacific (China, Japan, Korea, India and Southeast Asia)South America (Brazil, Argentina, Colombia etc.
Though there is an increase in demand for the products and services, limited resource is considered a major threat.
Stratistics MRC's report on Global Maritime Satellite Communication Market discusses about driving factors, opportunities, type, component, application, end user, and upcoming challenges.
Satellite communication technologies help to track the ships and cargo through the globe.
VSAT terminals are communication terminals that allow transmitting and receiving text, audio, and video data using satellite broadband Internet services.
These terminals operate as geostationary satellites on Ku, Ka, and C bands.
View complete Maritime Satellite Communication Market with Table of Content @ https://www.strategymrc.com/report/maritime-satellite-communication-market/toc By geography, Asia Pacific is going to have a lucrative growth during the forecast period due to high demands, specifically in the oil and gas, merchant shipping, mining, and passenger shipping verticals.
The APAC region is implementing maritime satellite communication solutions significantly.
Satellite Communication Systems MarketThe sudden challenges created by the ongoing COVID-19 are captured effectively to exhibit the long term growth projections in the MRFR report on Satellite Communication Systems Market.
The growth sectors of the Satellite Communication Systems Market are identified with precision for a better growth perspective.According to MRFR, the Global Enterprise VSAT Market 2020 is slated to expand at 8.8% CAGR to 10.6 billion in 2024 during the forecast period.FREE PDF@ https://www.marketresearchfuture.com/sample_request/8146Market HighlightsThe rising adoption of VSAT networking systems in the BFSI sector is moving the market toward expansion.
Increased use of satellite services for diverse vertical applications, Cost effective solutions provided and improved service quality delivered by VSAT allow businesses to opt for VSAT services.
These factors stimulate growth of global enterprise VSAT industry revenues.However, emerging technologies such as high-performance satellite (HTS) technology are among the prime constraints that impede the growth of the VSAT market for global enterprise.
Furthermore it can be difficult to access financial services in remote or rural areas with limited network infrastructure.
Banks wishing to provide services at remote locations are facing network access challenges.
