TMCnet News
Maritime Satellite Communication Market Size Worth $4.74 Billion by 2025: Grand View Research, Inc.SAN FRANCISCO, Dec. 3, 2019 /PRNewswire/ -- The global maritime satellite communication market size is expected to reach at USD 4.74 billion by 2025, registering a CAGR of 8.9% over the forecast period, according to a new report published by Grand View Research, Inc. The rising need for reliable and cost-effective maritime communication services at sea is driving the market growth. Rising adoption of satellite communication for additional user-oriented services, such as entertainment, tracking and monitoring services is also expected to fuel revenue growth in the forthcoming years. Key suggestions from the report:
Read 83 page research report with ToC on "Maritime Satellite Communication Market Size, Share & Trends Analysis Report By Type (VSAT, MSS), By Revenue Source (Hardware, Software, Services), By End Use, By Region, And Segment Forecasts, 2019 - 2025" at: https://www.grandviewresearch.com/industry-analysis/maritime-satellite-communication-market Maritime satellite communication is a crucial part of naval, commercial, leisure and oil rig and support vessels. Its services include voice calling, weather and oceanographic data access for navigation and fishing, data services for email and internet access as well as for tracking the location of the marine vessel. Timely delivery has become a dynamic factor for the shipping industry. The industry is striving to achieve it by making high investments in R&D activities. Te shipping industry uses satellite vessel tracking service to keep the shore-side operations informed about the location and to achieve timely delivery. Maritime communication services also provide distress warning whenever necessary, which is also one of the most influential factors driving the adoption of maritime satellite communication. Technological innovation such as reduction in dish size and cost of data usage is expected to drive demand for installation of new VSAT services in place of MSS services. The adoption of VSAT with KU and KA band frequencies, will also provide immense growth opportunity for the market. Also, huge investments which are made by key manufacturers of maritime communication equipment, to introduce new comparatively cheaper satellite communication equipment is expected to boost the market. However, the high cost of equipment and satellite communication services may hinder the growth. Grand View Research has segmented the global maritime satellite communication market on the basis of type, revenue source, end use, and region:
Find more research reports on Communications Infrastructure Industry, by Grand View Research:
Gain access to Grand View Compass, our BI enabled intuitive market research database of 10,000+ reports About Grand View Research Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead. Contact: Sherry James Web: https://www.grandviewresearch.com Logo: https://mma.prnewswire.com/media/661327/Grand_View_Research_Logo.jpg |