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The Future of the Satellite Modem Market Growth, And Research Report Breakdown
Satellite Modem Market by Application (Mobile & Backhaul, Offshore Communication, Tracking & Monitoring), End-User Industry
USD 710million by 2026; it is expected to grow at a CAGR of 12.0% from 2021 to 2026. A few key factors driving the growth of this market are rising need for enriched high-speed data communication, increase in the number of high-throughput satellites (HTS), and growing demand for satellite communication in internet of things (IoT).
The satellite modem market for MCPC channel type is expected to grow at a higher CAGR from 2021 to 2026. The growth of this segment is attributed to the unparalleled channel efficiency offered by these modems, which is the core requirement of high-data-traffic applications, such as mobile communication, internet, and broadband services. MCPC satellite modems can be integrated with IP networks to provide seamless connection for voice, video, and data traffic. Broadband internet services for enterprise networks are possible through MCPC modem technology because of its high data rate capacity over satellite technology.
The satellite modem market for the transportation and logistics end-user industry is expected to grow at the highest CAGR during the forecast period. In transportation and logistics, there is a constant need to transfer real-time data, including vehicle location, traffic density, video and audio, temperature range of vehicles transporting perishables, and emergency notifications. To transmit and receive such data, high-speed data rate satellite modems, which can set up a communication channel between the vehicle and the monitoring center, are used. Satellite modems also increase the accuracy and speed of the Global Positioning System (GPS).
The satellite modem market in APAC is expected to grow at the highest CAGR from 2021 to 2026. In APAC, the telecommunications and oil & gas industries are expected to drive the satellite modem market. The telecom and internet service industries are growing in Asian countries such as India and China. Satellite technology provides quick-to-deploy solutions and helps telecom operators overcome geographical challenges in extending their coverage in remote areas. The expansion of telecom connectivity in the region is responsible for the high demand for mobile and backhaul demand, and satellite-based backhaul. Additionally, countries such as India and China are heavily investing in satellite technology for advanced military and defense communications.
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The recent technology trends that may change the dynamics of the satellite modem market include adoption of software defined satellite modem and development of low cost and low powered satellite modem. Swarm Technologies, Inc. offers the swarm tile satellite modem. It is a tiny, low-powered modem that is designed for maximum compatibility.