Global M2M Satellite Communication Market Analysis and Forecast to 2022 | Growth Opportunity Assessment
Princeton, NJ -- (SBWIRE) -- 06/13/2018 -- Machine-to-machine (M2M) communication allows data transfer between two or more machines as well as between machines and human. In the satellite communication market, M2M connectivity is playing a crucial role by providing connectivity solutions to people working in remote locations. In the 1970s, remote meters were developed that led to the advancement of smart meters and smart grids. In early 1990s, the usage of M2M technology increased with the introduction of customized solutions designed for industry verticals such as automotive and telematics. In the late 1990s, companies developed M2M-based satellite modems. This increased the need for M2M based satellite communication services among various organizations.
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In 2010, satellite service providers started offering bundled M2M satellite solutions to their customers. Owing to the low cost of these solutions, many industrial sectors, including maritime and aviation, started implementing M2M based satellite solutions.
Currently, the M2M satellite communication market is growing progressively with consistent advancement in the technology. Organizations are using M2M communication technology for security, remote monitoring, logistic tracking, in sectors such as agriculture and retail, which is expected to drive the growth of this market during the forecast period.
The M2M satellite communication market comprises specialized technologies such as satellite telemetry, AIS and VSAT. It also uses various network devices for transfers of information to the end user. Satellite IP terminals play a vital role in this market as they allow sending and receiving of information over the satellite networks. The M2M satellite communication market consists of various stakeholders including satellite operators, satellite service providers, value added service providers, communication network operators, and satellite equipment manufacturers.
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The increasing need for enriched data communication and expansive applications of M2M satellite communications are the driving force prevailing in the market, owing to which the market is gaining traction. Moreover, there are various factors such as conjunction of satellite and terrestrial mobile technology and emergence of cloud-based platform providers in this market that are creating opportunities for the vendors.
The M2M satellite communication market is growing consistently with large satellite vendors and communication service providers such as ORBCOMM, Kore Telematics, Inmarsat, Globalstar, Iridium, Rogers Communication, TeliaSonera, Hughes network systems, Orange, and ViaSat offering advance technological solutions to various enterprises.
This report analyzes the global adoption trends, future growth potential, key drivers, restraints, opportunities, and best practices in the market.
Research Cosmos expects the M2M satellite communication market to grow from USD 3.36 Billion in 2015 to USD 5.91 Billion by 2020, at a Compound Annual Growth Rate (CAGR) of 11.9% during the forecast period.
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