CHICAGO, Oct. 26, 2021 /PRNewswire/ -- According to the new market research report "Satellite Modem Market with COVID-19 Impact, by Application (Mobile & Backhaul, Offshore Communication, Tracking & Monitoring), End-User Industry (Telecom, Marine, Military), Channel Type, Data Rate, Technology, & Geography - Global Forecast to 2026", published by MarketsandMarkets™, the Satellite Modem Market is estimated to grow from USD 403 million in 2021 to reach USD 710 million by 2026; it is expected to grow at a CAGR of 12.0% from 2021 to 2026. A few key factors driving the growth of this market are rising need for enriched high-speed data communication, increase in the number of high-throughput satellites (HTS), and growing demand for satellite communication in internet of things (IoT).
High speed data rate satellite modems are expected to hold the largest share of the market during the forecast period.
High speed data rate satellite modems are expected to hold the largest share of the market from 2021 to 2026. This is due to the growing demand for high-data rate and high-bandwidth applications such as mobile & backhaul and offshore communication. Satellite service providers enable internet, cellular, and data network connectivity for remote locations. To keep pace with the high demand for data while controlling operational expenses, high-speed data rate satellite modems are necessary. Additionally, the growing demand from the commercial and military sectors for on-the-move communications at high data rates further drives the market for the high-data-rate satellite modems.
Offshore communication application are expected to hold the largest share of the market during the forecast period.
To establish satellite communication connectivity between remote locations and the head office, high-speed data rate satellite modems are mainly deployed on offshore platforms. In offshore communication, there is a steadily growing demand for applications such as video conferencing, email communication, and data transfer to increase the overall operational efficiency. This creates a need for high bandwidth and high data rate. Satellite modems enhance satellite communications by offering a wide range of modulation options and superior link reliability and efficiency for offshore communication.
Satcom-on-the-move (SOTM) technology based satellite modem is expected to grow at the highest CAGR during the forecast period.
Satcom on-the-move (SOTM) terminals are being increasingly used in military and commercial applications. In military applications, these terminals are used primarily for tactical communication. SOTM terminals are used for broadband communication by maritime vessels, trains, airplanes, land vehicles, and other means of transport. However, in commercial applications, these terminals are primarily used for broadband Internet services. Satellite modems such as EBEM MD-1366 and CBM-400 of Viasat, Inc.; 9800 AR of ST Engineering iDirect, HM400 of Hughes Networks Systems, and QMultiFlex-400 Point-to-Multipoint Satellite Modem of Teledyne Technologies provide the functionality of communications on the move.
Satellite modem market in APAC to grow at highest CAGR during the forecast period.
In APAC, the telecommunications and oil & gas industries are expected to drive the satellite modem market. The telecom and internet service industries are growing in Asian countries such as India and China. Satellite technology provides quick-to-deploy solutions and helps telecom operators overcome geographical challenges in extending their coverage in remote areas. The expansion of telecom connectivity in the region is responsible for the high demand for mobile and backhaul demand, and satellite-based backhaul.
Comtech Telecommunications Corp. (US), ST Engineering (Singapore), Teledyne Technologies (US), Gilat Satellite Networks Ltd. (Israel), Viasat, Inc. (US), ORBCOMM Inc. (US), NOVELSAT (Israel), Datum Systems (US), Hughes Network Systems (US), WORK Microwave GmbH (Germany), ND SATCOM (Germany), Amplus Communication (Singapore), AYECKA Ltd (Israel), and SatixFy (Israel) are few major players in satellite modem market.
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