Satellite modems market to reach $747.4 million by 2027
Global Satellite Modems Market to Reach $747.4 Million by 2027.
In the changed post COVID-19 business landscape, the global market for Satellite Modems estimated at US$346.7 Million in the year 2020, is projected to reach a revised size of US$747.4 Million by 2027, growing at aCAGR of 11.6% over the period 2020-2027. MCPC, one of the segments analyzed in the report, is projected to record 12.4% CAGR and reach US$476.2 Million by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the SCPC segment is readjusted to a revised 10.2% CAGR for the next 7-year period.
The U.S. Market is Estimated at $100.3 Million, While China is Forecast to Grow at 10.8% CAGR.
The Satellite Modems market in the U.S. is estimated at US$100.3 Million in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$128.9 Million by the year 2027 trailing a CAGR of 10.8% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 10.7% and 9.7% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 8% CAGR.