DUBLIN, October 2, 2017 /PRNewswire/ --

The "Satellite Modem Market by Channel Type (SCPC & MCPC), Data Rate (High-Speed, Mid-Range, Entry-Level), Application (Mobile & Backhaul, IP Trunking, Offshore Communication), End User (Telecom, Marine, Oil & Gas), & Geography - Global Forecast to 2023" report has been added to Research and Markets' offering.

The satellite modem market is expected to grow from USD 296.4 Million in 2017 to USD 420.4 Million by 2023, at a CAGR of 6.0% between 2017 and 2023

The major factors driving the growth of the satellite modem market include continuous innovation by satellite modem manufacturers to ensure the growth of the market, rising need for enriched high-speed data communication, and growing demand for satellite communication from various verticals.

In this report, the satellite modem market is segmented on the basis of channel type, data rate, application, end user, and geography. Based on channel type, the MCPC modem is expected to drive the market in terms of market share as well as growth rate. This is because MCPC offers unparalleled channel efficiency, which is the core requirement of high-data-traffic industries such as mobile communication, and internet & broadband services. Therefore, the adoption rate of MCPC modem is expected to grow in above industries.

The growth of the satellite modem market in the North America is likely to be fueled by the growing demand for satellite modems from major industries such as oil & gas, marine, and military & defense, where voice, video, data communication is critical for efficient decision-making. The US is at the forefront of adopting and installing the satellite communication network for all these industries. The satellite modem market in APAC is likely to grow at a high rate between 2017 and 2023.

The increasing telecom connectivity within the region drives the demand for mobile and backhaul, and satellite-based backhaul. Also, with the growing Long-Term Evolution (LTE) technology in Asian countries and the growth of broadband services in rural areas, there would be a strong demand for satellite services in the region not only for coverage but also for acquiring new customers. Thus, the growth of satellite-based backhauling and 4G rollout offers a major opportunity for the satellite modem market in APAC.

The major challenges for the companies in the market include meeting the increasing demand for high bandwidth application.

Market Dynamics

Drivers

• Continuous Innovations By Satellite Modem Manufacturers
• Rising Need for Enriched High-Speed Data Communication
• Growing Demand for Satellite Communication from Various Verticals

Restraints

• Lack of International Regulations On Common Protocols And Communication Standards for Satellite Modems

Opportunities

• Conjunction of Satellite And Mobile Technologies
• Growing Demand for Satellite Communication in Internet of Things (Iot)

Challenges

• Meeting the Increasing Demand for High Bandwidth Application

Companies Mentioned

• Advantech Wireless
• Amplus Communication Pte Ltd
• Aselsan A.S.
• Ayecka Communication Systems, Ltd.
• Comtech Ef Data Corporation
• Datum Systems
• General Dynamics Satcom Technologies
• Gilat Satellite Networks Ltd.
• Hiltron Communications
• Hughes Network Systems, Llc
• ND Satcom Gmbh
• Newtec Cy N.V.
• Novelsat
• Orbcomm Inc.
• Real-Time Logic, Inc.
• Rohde & Schwarz Inradios Gmbh
• Satcom Resources
• Satexpander
• Singapore Technologies Electronics Limited
• Teledyne Paradise Datacom
• Thuraya Telecommunications Company.
• Viasat Inc.
• VT Idirect, Inc.
• Warwick Wireless Ltd
• Work Microwave Gmbh

For more information about this report visit https://www.researchandmarkets.com/research/wwklqp/satellite_modem

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SOURCE Research and Markets