The “Global Satellite Modem Market with COVID-19 Impact Analysis by Application (Mobile & Backhaul, Offshore Communication, Tracking & Monitoring), End-user Industry (Telecom, Marine, Military), Channel Type, Data Rate, Technology, & Geography – Forecast to 2026” report has been added to ResearchAndMarkets.com’s offering.
The global 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% 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).
The satellite modem market for MCPC modem is expected to grow at a higher CAGR from 2021 to 2026
The satellite modem market for MCPC modem is expected to grow at a higher CAGR from 2021 to 2026. The growth of this segment is attributed to the unparalleled channel efficiency offered by these modems, which is the core requirement of high-data-traffic applications, such as mobile communication, internet, and broadband services. MCPC satellite modems can be integrated with IP networks to provide seamless connection for voice, video, and data traffic. Broadband internet services for enterprise networks are possible through MCPC modem technology because of its high data rate capacity over satellite technology.
The satellite modem market for military and defense is expected to grow at the second-highest CAGR from 2021 to 2026
The satellite modem market for military and defense is expected to grow at the second-highest CAGR from 2021 to 2026. Satellite communication is used for multiple applications such as situational awareness, intelligence gathering, and border patrol in military & defense operations. The amount of data, voice, and video exchanged between the headquarters and remote sites has grown substantially from the last five to ten years. Satellite modems with high data rates are used for such communication. Furthermore, satellite modems deliver high-speed satellite communications for on-the-move, stationary, point-to-point, or point-to-multipoint missions. Satellite modems also play a critical role in ensuring secure and reliable communication for military and defense operations.
North America to account for the largest size of satellite modem market during the forecast period
North America is estimated to account for the largest size of satellite modem market during the forecast period. The key factors driving the growth of the satellite modem market in North America are the demand for satellite communication-based maritime applications, need for high-speed networks, increased adoption of connected vessels, and presence of key industry players, including Comtech EF Data Corporation (US), Datum Systems (US), and ORBCOMM INC. (US). Furthermore, growing demand from US military and subsidies by US government for broadband internet service in rural parts of US is expected to boost demand for satellite modems in the region. PR Newswire