Maritime Satellite Communication Market Size, Growth, Trends and Forecast to 2025 | MarketsandMarkets

According to new market research report on "Maritime Satellite Communication Market by Component (Solutions and Services), Solution (VSAT and MSS), Service (Tracking and Monitoring, Voice, Video, Data), End User (Merchant Shipping, Offshore, Government), and Region - Global Forecast to 2025", size is expected to grow from USD 2.3 billion in 2020 to USD 3.2 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 7.1% during the forecast period. Escalating the need for enriched data communication to improve operation efficiency, onboard security & surveillance, and employee/passenger welfare in maritime is driving the market.

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Furthermore, The major factor driving the maritime satellite communication market is the need to attain improved connectivity between the land and sea operations and realizing benefits in faster repair times, preventative maintenance, fuel-saving, and real-time navigation.

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Ka-band segment to account for the largest market size during the forecast period

This section studies the maritime satellite communication VSAT portfolio. Ka-band operates under frequency 26.5-40 GHz. It is an extremely high frequency, commonly used in HD satellite TV. It is used by the maritime industry to support marine VSAT services. Ka-band incurs significant implementation cost but relatively low maintenance. It is susceptible to rain fade. Inmarsat was the first company to provide Ka-band VSAT services. As more Ka-band bandwidth becomes available, other players also started using Ka-band to deliver their communication services

The video service segment to account for the largest market size during the forecast period

The video service segment of the maritime satellite communication service includes streaming of high definition photos & videos and online TV channel broadcast services. Video services enable the crew to get in touch with family through videoconferencing, get information & update on news, sports, and favorite TV programs, and many other services. Live video service can help onboard technicians to get live assistance from experts to resolve problems. High-quality live video transfer needs reliability and sufficient bandwidth.

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APAC to account for the highest market share during the forecast period

The maritime satellite communication market in APAC is the largest in terms of market size. APAC is the fastest-growing region in the maritime satellite communication market. Many countries in the APAC region are likely to adopt maritime satellite communication solutions owing 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. The maritime satellite technology has been adopted in this region to incorporate advanced communication networks to communicate with employees, such as crew working at remote offshore locations.

The major maritime satellite communication market vendors include Inmarsat (UK), Iridium Communications (US), Thuraya (UAE) Hughes Network Systems (US), KVH Industries (US), Viasat (US), Speedcast (Australia), ST Engineering (Singapore), NSSLGlobal (England), Marlink (France), ORBOCOMM (US), Navarino (Greece), Network Innovations (Canada), GTMaritime (England), AST Group (UK), Isotropic Networks (Wisconsin), Norsat International (Ontario), Satcom Global (Canada), Intelsat (US), and Orbit Communication Systems (Israel).

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Maritime Satellite Communication Market Analysis, Scope, Overview, Industry Trends, by 2020

According to new market research report on "Maritime Satellite Communication Market by Type (VSAT, MSS), Service (Voice, Video, Data, Tracking & Monitoring), End User (Merchant Shipping, Fishing, Passenger Ship, Leisure Vessels, Offshore, Government, Others) and by Region - Global Forecast to 2020", 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.

Browse and in-depth TOC on “Maritime Satellite Communication Market”

85 - Tables                                                 

43 - Figures

153 - Pages  

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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.

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

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.

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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.

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.

Contact:
Mr. Rohan
Markets and Markets
UNIT no 802, Tower no. 7, SEZ
Magarpatta city, Hadapsar
Pune, Maharashtra 411013, India
1-888-600-6441
Email: sales@marketsandmarkets.com
Content Source: https://www.marketsandmarkets.com/PressReleases/maritime-satellite-communication.asp

Global Maritime Satellite Communication Market will expected to grow $3.10 Billion by 2020

According to new market research report on "Maritime Satellite Communication Market by Type (VSAT, MSS), Service (Voice, Video, Data, Tracking & Monitoring), End User (Merchant Shipping, Fishing, Passenger Ship, Leisure Vessels, Offshore, Government, Others) and by Region - Global Forecast to 2020", 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.

Browse and in-depth TOC on “Maritime Satellite Communication Market”

85 - Tables                                                 

43 - Figures

153 - Pages  

Ask For PDF Broucher @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=113822978

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.

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.

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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.

Contact:
Mr. Rohan
Markets and Markets
UNIT no 802, Tower no. 7, SEZ
Magarpatta city, Hadapsar
Pune, Maharashtra 411013, India
1-888-600-6441
Email: sales@marketsandmarkets.com