Maritime Satellite Communication Market To Attain CAGR of 8.9% By 2025 Due To Increasing Need For Cost-Effective And Reliable Communication Services At Sea | Million Insights

October 01 08:16 2021
Maritime Satellite Communication Market To Attain CAGR of 8.9% By 2025 Due To Increasing Need For Cost-Effective And Reliable Communication Services At Sea | Million Insights
Million Insights – World’s Fastest Growing Market Research Database
According to new report available with Million Insights, the global maritime satellite communication industry research report offers thorough type, revenue, end-user and regional demand. It also offers ready, data-driven answers to several industry-level questions.

The global maritime satellite communication market size is likely to be USD 4.74 billion by 2025, as estimated by Million Insights. The market is estimated to witness 8.9% CAGR from 2019 to 2025. Increasing marine services has led to a rise in need for cost-effective and reliable communication solution, which in turn, driving the market growth. In addition, satellite communication systems are also used in applications such as tracking, entertainment, monitoring and various other user-based services.

Maritime satellite communication plays a vital role in establishing effective communication in commercial, naval, leisure, oil rigs and other vessels. Various services include voice calling, weather data access, internet access and other.

To download the sample PDF of Maritime Satellite Communication Market Report “please” click here: https://www.millioninsights.com/industry-reports/global-maritime-satellite-communication-market/request-sample 

 

Shipping industry alone accounts for the largest share in global trade. On-time shipping has become an important part of various businesses as customer satisfaction is becoming key. To make this happen, key players are significantly contributing to research and development. The use of satellite is gaining traction as it helps in achieving on-time delivery. 

Technical advancement has led to a reduction in the size of the antenna along with the cost of data usage. This has resulted in increasing demand for VSAT installation against MSS services. The increasing use of VSAT with KA and KU offers a lucrative opportunity for market growth. In addition, growing investment to incorporate cheaper satellite is further projected to augment the maritime satellite communication market growth. However, the high initial cost of satellite communication equipment is anticipated to adversely affect the market growth. 

To browse report summary & detailed TOC, “please” click the link below:
https://www.millioninsights.com/industry-reports/global-maritime-satellite-communication-market 

 

Further key findings from the report suggest:

• In the end-use segment, naval vessel category is projected to grow with the highest CAGR from 2019 to 2025.

• By type, VSAT segment is projected to witness the fastest growth rate owing to the high speed of data and global coverage.

• Asia Pacific is projected to account for the maximum growth rate over the next six years due to increasing adoption of VSAT in cruise and merchant ships.

• The market is oligopolistic in nature and dominated by key players such as Leonardo S.p.A, Orbcomm Inc., EchoStar Corporation, Iridium Communications and Inmarsat among others.

Million Insights has segmented the global maritime satellite communication market on the basis of product type, revenue source, end use and region:

Maritime Satellite Communication Type Outlook (Revenue, USD Billion, 2014 – 2025)

    • Very Small Aperture Terminal (VSAT)

        • Ka-Band

        • C-Band

        • Others

    • Mobile Satellite Services (MSS)

Maritime Satellite Communication Revenue Source Outlook (Revenue, USD Billion, 2014 – 2025)

    • Hardware

    • Software

    • Services

Maritime Satellite Communication End Use Outlook (Revenue, USD Billion, 2014 – 2025)

    • Naval Vessel

    • Commercial Vessels

    • Leisure Vessels

    • Offshore Oil Rigs

Maritime Satellite Communication Regional Outlook (Revenue, USD Billion, 2014 – 2025)

    • North America

        • U.S.

        • Canada

    • Europe

        • U.K.

        • Germany

        • France

    • Asia Pacific

        • China

        • India

        • Japan

    • Latin America

        • Brazil

        • Mexico

    • Middle East & Africa

Browse latest market research reports available with Million Insights:

• Intravenous Solutions Market: The global intravenous solutions market was prized by USD 10.7 billion in 2020. It is estimated to witness a 7.9% CAGR from 2021 to 2028.

• Women’s Health App Market: The global women’s health app market was prized by USD 2.3 billion in 2020. It is estimated to witness 19.0% CAGR from 2021 to 2028.

About Million Insights

Million Insights, is a distributor of market research reports, published by premium publishers only. We have a comprehensive marketplace that will enable you to compare data points, before you make a purchase. Enabling informed buying is our motto and we strive hard to ensure that our clients get to browse through multiple samples, prior to an investment. Service flexibility & the fastest response time are two pillars, on which our business model is founded. Our market research report store includes in-depth reports, from across various industry verticals, such as healthcare, technology, chemicals, food & beverages, consumer goods, material science & automotive.

Media Contact
Company Name: Million Insights
Contact Person: Ryan Manuel
Email: Send Email
Phone: 91-20-65300184
Address:Office No. 302, 3rd Floor, Manikchand Galleria, Model Colony, Shivaji Nagar
City: Pune
State: Maharashtra
Country: India
Website: https://www.millioninsights.com/industry-reports/global-maritime-satellite-communication-market

  Categories: