The Global Satellite Modem Market To Witness an Anticipated Growth at CAGR of 5.4% by 2022
After an elaborate scrutiny of the market, Market Mirror report has clearly portrayed the market landscape and the considerable amount of growth which is expected in the coming years, primarily till the year 2022. To be precise, the anticipated growth rate at a CAGR of 5.4% from the year 2018 to 2022.
A satellite modem or satmodem is commonly used for establishing data transfers using the communication satellite as the relay. The satellite internet will not need a phone line to pick up the signal as there will be a roving satellite.
Based on the geography of the world, the market is divided into three – APAC, Americas and EMEA. The key vendors of the market include NovelSat, ORBCOMM, Comtech EF Data and GILAT SATELLITE NETWORKS.
The report is intricate and gives a clear idea about the present scenario and the forecast of the growth rate from 2018 to 2022. For calculating the market size, the report considered the revenue which was generated from the satellite modem.
The Market Mirror report answered quite a few questions elaborately which included queries like the strength and weakness of the vendors, the key players in the market space, the challenges for market growth, the driving force of the market and the market size forecast in the year 2022.
The report stated the need for offshore communication. This was the driving force of the market which led the Market Mirror team prepare an elaborate report. Effective communication in the offshore industry is necessary. Offshore professionals like sailors, crewmen, oil rig workers, and fishermen require effective offshore communication. With an increasing need for this in the offshore industry, the market stresses on the satellite modem and its growth rate.
As per the report, there is one challenge which may affect the market. This is due to rain fade which is an environmental challenge. When a rainstorm occurs, it absorbs the signals and weaken them before they reach the satellite dish. This leads to signal loss which is precisely what the report states.
Another non-environmental challenge is the need for high investments. Satellite network and connectivity requires a lot of investment of money, which could affect the growth rate. While Market Mirror has an estimated number for the growth rate aspect, but only time can tell whether it will witness an increase or decrease.