The satellite modem market is projected to reach USD 710 million by 2026; it is expected to grow at a CAGR of 12.0% during the forecast period.
A few key factors driving the growth of this market are rising need for enriched high-speed data communication, increase in the number of high-throughput satellites (HTS), and growing demand for satellite communication in internet of things (IoT).
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“The satellite modem market for MCPC satellite modem is expected to grow at a higher CAGR from 2021 to 2026.”
The satellite modem market for MCPC channel type is expected to grow at a higher CAGR from 2021 to 2026. The growth of this segment is attributed to the unparalleled channel efficiency offered by these modems, which is the core requirement of high-data-traffic applications, such as mobile communication, internet, and broadband services. MCPC satellite modems can be integrated with IP networks to provide seamless connection for voice, video, and data traffic. Broadband internet services for enterprise networks are possible through MCPC modem technology because of its high data rate capacity over satellite technology.
“High speed data rate satellite modems expected to hold the largest share of the satellite modem market during forecast period.”
High speed data rate satellite modems are expected to hold the largest share of the market from 2021 to 2026. This is due to the growing demand for high-data rate and high-bandwidth applications such as mobile & backhaul and offshore communication. Satellite service providers enable internet, cellular, and data network connectivity for remote locations. To keep pace with the high demand for data while controlling operational expenses, high-speed data rate satellite modems are necessary.
Additionally, the growing demand from the commercial and military sectors for on-the-move communications at high data rates further drives the market for the high-data rate satellite modems.
“The satellite modem market for transportation and logistics end-user industry is expected to grow at the highest CAGR during the forecast period.”
The satellite modem market for transportation and logistics end-user industry is expected to grow at the highest CAGR during the forecast period. In transportation and logistics, there is a constant need to transfer real-time data, including vehicle location, traffic density, video and audio, temperature range of vehicles transporting perishables, and emergency notifications. To transmit and receive such data, high-speed data rate satellite modems, which can set up a communication channel between the vehicle and the monitoring center, are used. Satellite modems also increase the accuracy and speed of the Global Positioning System (GPS).
“Satellite modem market in APAC to grow at highest CAGR during the forecast period.”
In APAC, the telecommunications and oil & gas industries are expected to drive the satellite modem market. The telecom and internet service industries are growing in Asian countries such as India and China. Satellite technology provides quick-to-deploy solutions and helps telecom operators overcome geographical challenges in extending their coverage in remote areas. The expansion of telecom connectivity in the region is responsible for the high demand for mobile and backhaul demand, and satellite-based backhaul.
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Comtech Telecommunications Corp. (US), ST Engineering (Singapore), Teledyne Technologies (US), Gilat Satellite Networks Ltd. (Israel), Viasat, Inc. (US), ORBCOMM Inc. (US), NOVELSAT (Israel), Datum Systems (US), Hughes Network Systems (US), WORK Microwave GmbH (Germany), ND SATCOM (Germany), Amplus Communication (Singapore), AYECKA Ltd (Israel), and SatixFy (Israel) are few major players in satellite modem market.
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