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Satellite modem market – 39% of growth to originate from North America

The “Satellite Modem Market – Competitive Analysis, Trends, Drivers, Challenges & Five Force Analysis” report has been added to Technavio’s offering. The satellite modem market is estimated to grow by USD 139.96 million from 2019 to 2024, growing at a CAGR of 7%. North America was the largest satellite modem market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. The rising demand from end-users such as aerospace and defense firms and oil and gas companies will significantly drive satellite modem market growth in this region over the forecast period.39% of the market’s growth will originate from North America during the forecast period. The US is the key market for satellite modems in North America. Market growth in this region will be slower than the growth of the market in APAC, MEA, and South America.

Technavio has announced its latest market research report titled Satellite Modem Market by Type, Application, and Geography - Forecast and Analysis 2020-2024

Market Dynamics
Factors such as the increasing need to enhance offshore communication will drive the growth of the satellite modem market. However, the high investments required for satellite Internet and connectivity will impede the growth of the market.  The satellite modem market analysis report also provides information on the upcoming trends that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.

Company Profiles
The satellite modem market is fragmented and the report includes information on the product launches, sustainability, and prospects of leading vendors including Baylin Technologies Inc., Comtech Telecommunications Corp., EchoStar Corp., Gilat Satellite Networks Ltd., NovelSat, ORBCOMM Inc., Singapore Technologies Engineering Ltd., Teledyne Technologies Inc., Viasat Inc., and WORK Microwave GmbH.

Few companies with key offerings

  • Baylin Technologies Inc. –  The company offers wireless communication solutions through its subsidiaries Galtronics Corporation, Advantech Wireless Technologies Inc., and Alga Microwave.
  • Comtech Telecommunications Corp. – The company offers CDM-425 Advanced Satellite Modem, CDM-625A Advanced Satellite Modem, CDM-625A-EN Advanced Satellite Modem, and CDMER-625A Advanced Satellite Modem.
  • EchoStar Corp. –  This company offers satellite services on a full-time and/or occasional-use basis to U.S. government service providers, internet service providers, broadcast news organizations, content providers, and private enterprise customers.
  • Gilat Satellite Networks Ltd. – The company offers M GLT1000 and Taurus IFC modem.
  • NovelSat – The company offers NovelSat NS300X IP Satellite Modem.

Competitive Analysis
The competitive scenario provided in the satellite modem market report analyzes, evaluates, and positions companies based on various performance indicators. Some of the factors considered for this analysis include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, growth in market share, etc. PR Newswire

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