Fast Market Research announces the availability of the new Markets and Markets report, "Maritime Satellite Communication Market - Global Forecast to 2020", on their comprehensive research portal
Boston, MA -- (SBWIRE) -- 02/04/2016 -- 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 estimated at USD 2.01 billion in 2015 and is expected to register a CAGR of 9.0% during the forecast period. Tremendous opportunities lie in developing integrated network management systems that can seamlessly work across different frequency bands and cloud-based platforms to deliver maritime satellite communication services. Considering it as a future opportunity, top market players are working towards combining satellite and cellular communication technology.
"The very small aperture terminal (VSAT) technology segment dominates the overall market"
Get More Details on this Report and a Full Table of Contents at Maritime Satellite Communication Market - Global Forecast to 2020
At present, the penetration of VSAT across Ka-Band is maximum and is expected to continue this trend by 2020. On the other hand, Ku-Band is expected to reflect the highest CAGR during the forecast period owing to the increasing deployment of maritime satellite communication services across Ku-Band.
"Maritime satellite communication is driven by data communication service"
Most of the satellite-based communication in maritime industry is through data and it is also considered the cheapest source of communication in maritime industry. Video communication service will witness the highest growth due to increase in use of video conferencing and entertainment-based applications.
"Europe accounts for the highest adoption and implementation of maritime satellite communication services"
The factors driving the maritime satellite communication market in Europe are the low cost of solutions and high demand for implementing these services for monitoring and tracking and internet access to communicate and transfer real-time information. Asia-Pacific region is expected to register the highest CAGR during the forecast period.
"Increasing demand of communication services by business travelers"
Increase in business travelers' demand for having advanced communication systems at sea and expectations for high speed data equipment are growing continually. Passenger ship end user segment will reflect highest growth during the forecast period due to rapid deployment of affordable solutions across segment.
Break-up of profile of primary participants for the report as given below
-By Company Type - Tier 1 - 30 %, Tier 2 - 40% and Tier 3 - 30%
-By Designation - C level - 25%, Director level - 38%, Others - 37%
-By Region - North America - 45%, Europe - 23%, APAC - 18%, RoW - 14%
The various key maritime satellite communication market vendors and service providers profiled in the report are as follows:
1. Inmarsat communications, Inc.
2. Iridium communications, Inc.,
3. Thuraya Telecommunications Company
4. Hughes Network System LLC.
5. KVH Industries, Inc.
7. Harris Caprock
8. Royal Imetech N.V.
9. Globecomm Systems Inc.,
10. VT iDirect, Inc.
The report will help the market leaders/new entrants/end users in this market in the following ways:
1. The report provides deep analysis and comprehensive view of the overall market and closest approximation about global numbers and segmentaition across types, services, end users, and regions.
2. The report provides analysis about strategies followed by top players to grab more market share and insights to understand market dynamics comprising key market drivers, restraints, challenges, and opportunities.
3. The report will help various stakeholders to understand competetive landscape, products & services offered, recent developmens, new product launches, contracts/ agreements, and mergers & acquisitions taking place in the marketspace.
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