DALLAS, July 29, 2015 /PRNewswire/ --
According to a new market research report,"M2M
Satellite Communication Market by Technology (Satellite
Telemetry, VSAT, AIS), Communication Network Device (Satellite IP
Terminals, Satellite Modems, Gateways), Service (Managed Service,
Data), Vertical, Region - Global Forecast to 2020", published
by MarketsandMarkets, published by MarketsandMarkets, The M2M
Satellite Communication Market is estimated to grow from
USD 3.36 Billion in 2015 to
USD 5.91 Billion by 2020, at a
Compound Annual Growth Rate (CAGR) of 11.9%.
Browse more than 75 market data Tables with 61 Figures
spread through 183 Pages and in-depth TOC on
"M2M Satellite Communication
Market"
http://www.marketsandmarkets.com/Market-Reports/m2m-satellite-communication-market-33741729.html
Early buyers will receive 10% customization
of this report.
The market report defines and segments the M2M satellite
communication market into various sub segments with an in-depth
analysis and forecasting of market sizes. The report also defines
the driving factors for the market, restraints, and opportunities
along with the current adoption trends in this market. The M2M
Satellite Communication Market is expected to grow gradually owing
to the enhancement and modernization of technology in this
sector.
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M2M technologies have been adopted extensively by enterprises
across various industry verticals. These industry verticals such as
oil and gas and aviation include many organizations that work at
remote areas. These remote locations lack of proper communication
facilities; employees working here also need high-speed
communication networks for the swift transmission of important
information. This has given rise to the need of M2M-based satellite
communication among enterprises.
The rise in the demand for solutions that can help in vehicle
tracking, asset monitoring, and fleet management is also
influencing organizations to implement M2M satellite technology
within their businesses. The problem of poor network facilities in
some parts of the world affects the working of an organization in
that area as it becomes less acquainted with current market
situations and also faces difficulties in communicating with
clients. This increases the usage of M2M Satellite Communication
services among organizations for the smooth business
operations.
With the changing technological scenario, enterprises are
demanding advanced communication solutions so that they can achieve
market expansion along with increased profit margin. Moreover, the
development of expansive applications of M2M satellite
communications by satellite service providers and the low cost
involved in integration of satellite into an existing M2M system
are driving the growth of the M2M Satellite Communication
Market.
However, the lack of awareness among users and lack of
infrastructure to support diverse devices available are acting as
restraints in the growth of this market.
MarketsandMarkets broadly segments the M2M Satellite
Communication Market by region as North
America, Europe,
Asia-Pacific (APAC), Middle East & Africa (MEA), and Latin America; by technology as satellite
telemetry, VSAT and AIS; by device as satellite IP terminals,
satellite modems, gateways, and other devices; by service as
managed service, data service, voice service, business service, and
others service ; by industry vertical as automotive, maritime, oil
and gas, energy and utilities, government and public sector,
mining, transportation and logistics, healthcare, security
and surveillance, agriculture, retail, and others.
MarketsandMarkets forecasts the M2m Satellite Communication
Market to grow from USD 3.36
Billion in 2015 to USD 5.91
Billion by 2020, at a Compound Annual Growth Rate (CAGR) of
11.9%. North America is expected
to be the largest market in terms of market size, while
Europe and Asia-Pacific are expected to experience an
increase in market traction during the forecast period.
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