Satellite Modems Market Grows: 9.51% CAGR
Evolve Business Intelligence has published a research report on the Global Satellite Modems Market, 2021–2034. The global Satellite Modems market is projected to exhibit a CAGR of around 9.51%during the forecast period of 2021 to 2034.
Evolve Business Intelligence has recognized the following companies as the key players in the global Satellite Modems Market: Newtec, Iridium Communications Inc., C-DOT, Thuraya Telecommunications Company, VT iDirect, Inc., Singapore Technologies Engineering Ltd., ViaSat Inc., Teledyne Paradise Datacom, Hughes Network Systems LLC, Comtech EF Data Corporation
More Information: https://evolvebi.com/report/satellite-modems-market-analysis/
Market Highlights
The Global Satellite Modems market is projected to be valued at USD 1.65 Billion by 2034, recording a CAGR of around 9.51% during the forecast period. The satellite modems market involves the production and sale of devices that facilitate communication between satellites and ground-based systems. These modems are critical for various applications, including data transmission, voice communication, and internet access, especially in remote or underserved areas. They work by modulating and demodulating signals sent via satellite, ensuring reliable and efficient data transfer. The market is driven by increasing demand for satellite communication services, advancements in technology, and the growing need for connectivity in diverse sectors like aerospace, defense, maritime, and telecommunications. Key factors influencing the market include technological innovations, the expansion of satellite constellations, and government investments in satellite infrastructure.
Segmental Analysis
The global Satellite Modems market has been segmented based on Technology, Network Device, Verticals
Based on the Technology, the market is segmented based on VSAT, Satellite Telemetry. the VSAT (Very Small Aperture Terminal) segment typically dominates due to its widespread use in various industries for reliable, long-distance communication and data transmission. VSAT technology is preferred for applications such as remote connectivity, broadband internet access, and enterprise networks, making it more prominent than satellite telemetry.
Based on the Network Device, the market has been divided into (Gateway, Satellite IP terminals. satellite IP terminals typically dominate due to their widespread use in providing direct satellite connectivity for various applications, including mobile, maritime, and remote communication.
Based on Verticals, the market has been divided into Transportation & Logistics, Agriculture, Oil & Gas, Others. the transportation and logistics vertical often dominates due to its extensive need for reliable, global communication for fleet management, real-time tracking, and operational efficiency in remote locations.
More Information: https://evolvebi.com/report/satellite-modems-market-analysis/
Regional Analysis
The Satellite Modems market is divided into five regions: North America, Europe, Asia-Pacific, South America, and the Middle East, &Africa. North America dominates the Satellite Modems market due to several factors. Over the course of the forecast period, the satellite market is anticipated to be led by the Asia-Pacific region. Over the course of the projection period, the expansion of the regional market will be fueled by the increasing use of satellite antennas in the communications, IT, aerospace, and automotive industries. In addition, the U.S., Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil are among the important nations covered in the market analysis. The Asia-Pacific region has been witnessing remarkable growth in recent years. Over the course of the forecast period, the satellite market in North America is anticipated to have the second-largest market share. The industry is driven throughout the region by major businesses including Lockheed Martin Corporation, Northrop Grumman, L3Harris Technologies, Inc., Boeing, and others, as well as by the United States government’s increased investment in the space sector.
