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The satellite modem market share is expected to increase by USD 157.73 million from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 7.21%.
This satellite modem market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers satellite modem market segmentation by application (communications, IP trucking, and tracking and monitoring), type (MCPC and SCPC), and geography (North America, APAC, Europe, South America, and Middle East and Africa). The satellite modem market report also offers information on several market vendors, including Amplus Communication Pte Ltd., Applied Satellite Technology Ltd., AYECKa Ltd., Baylin Technologies Inc., Comtech Telecommunications Corp., Datum Systems Inc, EchoStar Corp., Gilat Satellite Networks Ltd, Iridium Communications Inc., NovelSat, ORBCOMM Inc., SATCOM Services Corp., SatExpander, Singapore Technologies Engineering Ltd., skyDSL Global GmbH, Teledyne Technologies Inc., THISS Technologies Pte Ltd., Thuraya Telecommunications Co., Viasat Inc., and WORK Microwave GmbH among others.
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Based on our research output, there has been a positive impact on the market growth during and post COVID-19 era. The increasing need to enhance offshore communication is notably driving the satellite modem market growth, although factors such as high investments required for satellite internet and connectivity may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the satellite modem industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Satellite Modem Market Driver
The increasing need to enhance offshore communication is one of the key drivers fueling the satellite modem market growth. Offshore teams cannot have the same speed and data connectivity rates that are obtained onshore. They have less information on changing climate conditions and are more focused on following procedures. Further, offshore teams are highly dependent on onshore teams to provide any important news or data regarding climate changes, wind speeds, and other environmental factors. In such cases, satellite communication is important to protect the offshore team from danger. The increasing demand for improved satellite communication is creating a demand for satellite modems to modulate and demodulate signals. Thus, an increase in oil and gas exploration and production (E&P) activities will drive the growth of the market during the forecast period.
Key Satellite Modem Market Trend
High preference for MEO and LEO over GEO satellites is one of the key satellite modem market trends propelling the market growth. One of the major reasons for the growth of LEO and MEO satellites is the increasing interest in GPS. It has become an integral part of the satellite communications network. It also provides drivers with information regarding the best routes and directions. Numerous MEO satellites are launched into space to provide GPS. With the rise in the demand for GPS connectivity, the need for more MEO satellites will increase. This, in turn, will create a demand for numerous satellite modems to be installed across base stations for efficient signal transmission.
Key Satellite Modem Market Challenge
High investments required for satellite internet and connectivity is one of the factors limiting the satellite modem market growth. Satellite internet is a type of Internet service where a connection is established via a satellite dish and modem. It is expensive compared with other network connection technologies. The monthly rent for this service is comparable to DSL and cable packages. However, installation and equipment costs are very high. Consumers that want a satellite internet connection have to spend heavily on a satellite modem, satellite dish, and satellite router. Users also need to pay professional service charges for satellite dish installation, which increases the overall cost of satellite internet connections. Such associated high costs will limit the market growth in the forecasted period.
This satellite modem market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global satellite modem market as a part of the global communications equipment market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the satellite modem market during the forecast period.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the satellite modem market encompasses successful business strategies deployed by the key vendors. The satellite modem market is fragmented and the vendors are deploying growth strategies such as portfolio, quality, and reliability to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The satellite modem market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the satellite modem market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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39% of the market’s growth will originate from North America during the forecast period. The US is the key market for the satellite modem market in North America. Market growth in this region will be faster than the growth of the market in Europe.
The need for satellite communication by oil and gas companies will facilitate the satellite modem market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The regional market witnessed a slow growth in 2020, owing to the outbreak of the COVID-19 pandemic. However, the strict lockdown due to increasing COVID-19 cases has increased the adoption of the internet for online education, virtual private network (VPN) access, and accessing essential government and medical information in 2020. This, in turn, will propel the market growth during the forecast period.
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The satellite modem market share growth in the communications segment will be significant during the forecast period. The demand for satellite connectivity is increasing in the communications segment. It is gaining traction in the mobile industry primarily because of the deployment of 4G and increasing investments in 5G. Satellite backhaul is a critical component of the wireless terrestrial infrastructure and will continue to be vital for 5G as well. Moreover, the growth of the segment is driven by the growing penetration of 3G or 4G and increasing investments in the commercialization of 5G. This, in turn, is expected to boost the market growth as well.
This report provides an accurate prediction of the contribution of all the segments to the growth of the satellite modem market size and actionable market insights on post COVID-19 impact on each segment.
Satellite Modem Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 7.21% |
Market growth 2022-2026 |
$ 157.73 million |
Market structure |
Fragmented |
YoY growth (%) |
6.61 |
Regional analysis |
North America, APAC, Europe, South America, and Middle East and Africa |
Performing market contribution |
North America at 39% |
Key consumer countries |
US, China, Japan, Germany, and UK |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
Amplus Communication Pte Ltd., Applied Satellite Technology Ltd., AYECKa Ltd., Baylin Technologies Inc., Comtech Telecommunications Corp., Datum Systems Inc, EchoStar Corp., Gilat Satellite Networks Ltd, Iridium Communications Inc., NovelSat, ORBCOMM Inc., SATCOM Services Corp., SatExpander, Singapore Technologies Engineering Ltd., skyDSL Global GmbH, Teledyne Technologies Inc., THISS Technologies Pte Ltd., Thuraya Telecommunications Co., Viasat Inc., and WORK Microwave GmbH |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact, and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Application
6 Market Segmentation by Type
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix
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