The Global Maritime Satellite Communication Market is expected to grow from USD 3.53 Billion in 2019, at a CAGR of 9.1% during the forecast period. It is anticipated that the increasing need for enriched data communication and extensive use of satellite communication in the maritime industry along with less expensive technology to attract end users who did not have the ability to use satellite communication initially will drive the market during the forecast period.
During the forecast period, the very tiny opening terminal (VSAT) technology segment is projected to dominate the industry for maritime satellite communication. VSAT currently maintains over 61 percent of the overall market share. The fast transition from mobile satellite communication (MSS) to VSAT is ascribed to VSAT maritime users ' bandwidth and price benefits. VSAT's reach across the Ka-Band is currently peaking and this pattern is anticipated to persist until 2028. On the other hand, due to the growing activities of maritime cable relay facilities across Ku-Band, the Ku-Band section is anticipated to record the largest growth during the forecast period. With a share of over 29 percent in 2015, information processing facilities are anticipated to achieve the largest commercial percentage over the forecast period, and the communication service sector will experience the greatest development owing to increased use of video conferencing and entertainment-based applications.
Companies Covered: Inmarsat communications, Inc., Iridium Communications, Inc., Thuraya Telecommunications Company, Hughes Network System LLC., KVH Industries, Inc., VIASAT, Harris Caprock, Royal Imtech N.V., Globecomm Systems Inc., and VT iDirect, Inc., Speedcast, Navarino, NSSL Global, MTN, and Network Innovation.
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