A survey report by markets and markets have issued a “Maritime Satellite Communication Market by Type (VSAT, MSS), Service (Voice, Video, Data, Tracking & Monitoring), End User (Merchant Shipping, Fishing, Passenger Ship, Leisure Vessels, Offshore, Government, Others) and by Region – Global Forecast for 2020”.
Highlights of the forecast:
- The global maritime satellite communication market size is estimated to grow from USD 2.01 Billion in 2015 to USD 3.10 Billion by 2020.
- CAGR is expected to be 9.0% from 2015 to 2020.
- The forecast has ascertained the need for enriched data communication to drive the global market focussing on areas such as:
- operational efficiency,
- security & surveillance, and
- employee/passenger welfare.
- Estimating the market size and future growth potential of market is one of the main course of the study.
- The market potential is identified under various segments such as types, services, end users, and regions.
- The market is reflecting a rapid shift from MSS to VSAT operating specifically in C-Band, Ka-Band, and Ku-Band
The process of survey:
- The survey was conducted in top down approach and bottom up approach.
- Primary interviews were conducted with market experts, including CEOs, VPs, directors, and executives of the top market players.
- Data triangulation and breakdown procedure were applied to arrive at the overall statistics.
- Primary research revealed the market dynamics.
About MarketsandMarkets :
MarketsandMarkets is world’s No. 2 firm in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors.