Outlook of the global satellite M2M connections and services market
According to Technavio’s market research analyst, the global market for satellite M2M connections and services will grow at a CAGR of almost 15% and 10%, respectively by 2020. The augmented demand for enhanced M2M data communication will be a significant factor leading to the growth of this market. Since M2M communication is the next wave of technology development, most companies are focusing primarily on the latest M2M systems that improve operational effectiveness and efficiency. As the incorporation of M2M systems into business operations would help businesses achieve real-time monitoring of remote assets, this market is anticipated to witness stark growth by the end of 2020. Additionally, benefits such as the ability of satellite-based M2M services in supporting remote facility monitoring, real-time asset management, and industrial automation will also lead to its strong demand over the next few years.
In this market study, the analysts have estimated eminent factors, such as the increased use of analytics, to spur this market’s growth prospects in the next four years. Generally, satellites generate large volumes of information in the form of images, which can be difficult to analyze. As a result, the need for data analytics has increased as it will help provide meaning and structure to large volumes of unstructured data. Many companies have taken note of the growing need to analyze the data generated by satellites, as a result of which, they have initiated efforts to jump into the analytics space.
Competitive landscape and key vendors
The global satellite M2M connections and services market is characterized by the presence of both large and small players. The level of competition in this market will increase during the forecast period, as technological advances will provide ample opportunity to the vendors for innovation. Due to this market’s competitive nature, there have been more M&As, with many companies forming strategic partnerships to expand their geographical presence.
Key vendors in this market are -
Other prominent vendors in this market are Applied Satellite Technology, Digi International, Gemalto, Hughes Network System (EchoStar), Nupoint Systems, Oracle, Quake Global, Sprint, TeliaSonera, and Telit.
Segmentation by application and analysis of the satellite M2M connections and services market
Oil and gas
During 2015, the government sector dominated this market by accounting for an impressive market share of more than 37%. The extensive use of satellite M2M connectivity for a wide array of military and government applications, such as monitoring and tracking of logistics and location-based tracking of military forces, will lead to the strong growth of this market segment during the forecast period.
Geographical segmentation and analysis of the satellite M2M connections and services market
At present, the Americas dominates this market and is anticipated to retain its dominating hold over the market until the end of 2020. The extensive use of satellite communications technology for applications like mining, oil and gas, and transportation in this region will result in the market’s impressive growth rate of almost 11% by 2020.
Key questions answered in the report include
What will the satellite M2M connections and services market size and the growth rate be in 2020?
What are the key factors driving the global satellite M2M connections and services market?
What are the key market trends impacting the growth of the global satellite M2M connections and services market?
What are the challenges to market growth?
Who are the key vendors in the global satellite M2M connections and services market?
What are the market opportunities and threats faced by the vendors in the global satellite M2M connections and services market?
Trending factors influencing the market shares of the Americas, APAC, and EMEA.
What are the key outcomes of the five forces analysis of the global satellite M2M connections and services market?
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