According to a recent report published by Allied Market Research, titled, “VSAT maritime satellite communication market by component, band type, services, and end user: global opportunity analysis and industry forecast, 2021–2030,” the global VSAT maritime satellite communication market was valued at $1.34 billion in 2020, and is projected to reach $2.96 billion by 2030, registering a CAGR of 8.5% from 2021 to 2030.
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VSAT maritime satellite communication is a wireless connection that involves three satellite dishes, one at the internet service providers hub, one in space, and one attached to ships or seashore. In addition to the satellite dish, consumers also need a modem and cables running to and from the dish to modem.
Increase in imports and exports in various countries, owing to growing trade environment benefits growth of the market. Increase in exports through marine operations, owing to cheaper costs is leading to sales of more subscriptions for VSAT satellite communication services. In addition, increased imports and exports across several countries has made satellites busy in controlling traffic of communication signals.
Key players operating in the global VSAT maritime satellite communication industry include Marlink, Inmarsat Global Limited, Iridium Communication Inc., Thuraya Telecommunications Company, Hughes Network System, LLC, KVH Industries, Inc., Speedcast, NSSLGLOBAL, ORBCOMM, and GTMARITIME.
Key Findings Of The Study
- By component, the solution segment accounted for the largest VSAT maritime satellite communication market share in 2020.
- By region, Asia-Pacific generated highest revenue in 2020.
- By band type, the Ku-Band segment generated the highest revenue in 2020.
The global VSAT maritime satellite communication market is segmented based on component, band type, services, end user, and region. By component, it is divided into solution and service. By band type, it is fragmented into, ku-band, ka-band, and c-band. In terms of services, it is segregated into voice, tracking and monitoring services, video, and data. In terms of end user, the market is classified into merchant shipping, passenger ships, leisure vessel, offshore, and others. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies. This helps us dig out market data that helps us generate accurate research data tables and confirm utmost accuracy in our market forecasting. Every data company in the domain is concerned. Our secondary data procurement methodology includes deep presented in the reports published by us is extracted through primary interviews with top officials from leading online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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