With 12.0% CAGR, Satellite Modem Market Growth to Surpass USD 710 million

Satellite Modem Market by Application (Mobile & Backhaul, Offshore Communication, Tracking & Monitoring), End-User Industry (Telecom, Marine, Military), Channel Type, Data Rate, Technology, & Geography
By: MarketsandMarkets
 
NORTHBROOK, Ill. - July 29, 2022 - PRLog -- The satellite modem market is estimated to grow from USD 403 million in 2021 to reach USD 710 million 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 formid range data rate satellite modem is expected to grow at the highest CAGR during the forecast period. Majority of the satellite internet providers such as Hughes Net and Viasat offer maximum download speeds up to 50 Mbps for most of their service offerings. Furthermore, mid range data rate satellite modem are typically used by telecom operators, satellite service providers, government & military, enterprise, and offshore communication applications.

The satellite modem market for enterprise and broadband applications is expected to grow at the highest CAGR during the forecast period. Broadband connectivity is of utmost importance for today's global enterprises. With remote branches, a mobile workforce and widespread customers, enterprises' business continuity depends upon uninterrupted connectivity for their IP applications regardless of location. Satellite communication equipment, including satellite modems, allow enterprises to achieve true broadband connectivity for voice, data, and video services at any point on the globe with better operational efficiencies and lower costs.

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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.

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Tags:Satellite Modem Market
Industry:Technology
Location:Northbrook - Illinois - United States
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