M2M Satellite Communication Market worth $28.7 billion by 2028
According to a research report "M2M Satellite Communication Market by Offering (Hardware, Software Types, Services), Technology (Satellite Constellation (LEO, MEO, GEO), Data Transmission, VSAT, AIS), Vertical (Maritime, Military & Defense) and Region - Global Forecast to 2028" published by MarketsandMarkets, the market for M2M satellite communication will expand at a compound annual growth rate (CAGR) of 13. 1% from USD 15. 5 billion in 2023 to USD 28. 7 billion in 2028. The use of satellite networks to enable seamless communication between machines and devices worldwide is the focus of the M2M satellite communication market. Remote connectivity is made possible for a variety of industries, and it offers robust dependable and often instantaneous data transfer for applications in locations where traditional terrestrial networks might be limited or nonexistent. This market niche is still growing since it can facilitate IOT remote monitoring asset tracking and other critical functions in challenging environments.
Browse 310 market data Tables and 63 Figures spread through 403 Pages and in-depth TOC on "M2M Satellite Communication Market by Offering (Hardware, Software Types, Services), Technology (Satellite Constellation (LEO, MEO, GEO), Data Transmission, VSAT, AIS), Vertical (Maritime, Military & Defense) and Region - Global Forecast to 2028"
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By offering the services segment to account for higher CAGR during the forecast period.
A vast range of services are available on the M2M satellite communication market to connect and manage devices across multiple industries. Data services which allow for seamless information exchange between distant devices enable real-time monitoring and control. By facilitating instantaneous communication in locations with limited terrestrial network coverage voice services ensure consistent voice connectivity. Effective asset tracking and environmental monitoring are made possible by satellite services such as telemetry and remote monitoring which take advantage of satellite networks worldwide coverage. Security services protect sensitive information by addressing the need for strong data protection and secure communication. Business services make sure companies get the most out of their M2M deployments by providing ongoing support project management and consulting.
By Technology, Satellite Constellation is expected to hold the largest market size for the year 2023.
Broad coverage and improved communication service dependability are offered by satellite constellations. Without the need for human intervention machine-to-machine (M2M) communication entails the exchange of data between devices or systems satellite constellations enable worldwide connectivity for this purpose. A single. A noteworthy instance is the implementation of Low Earth Orbit (LEO) satellite constellations in which several tiny satellites function in synchronized orbits at comparatively low altitudes. Devices from different industries can communicate with each other seamlessly thanks to the constellations interconnectedness. encompassing environmental monitoring transportation and agriculture.
The energy and utilities vertical is projected to grow at the highest CAGR during the forecast period.
M2M satellite communication provides a reliable means of real-time data transmission and control when energy assets are spread throughout distant and frequently difficult environments. Utility companies can remotely manage and optimize their energy distribution networks thanks to satellite communication technology which enables seamless connectivity of devices like sensors smart meters and monitoring equipment. This is especially important for power grid operations as M2M solutions guarantee constant data flow supporting fault detection managing grid stability and reacting to fluctuating energy demands.
Europe is expected to hold the second-largest market size for the estimated year.
The M2M satellite communication market in Europe is characterized by the collaborative efforts of major countries such as Germany, France, Italy, Spain and others. Germany, with its robust space industry, leads in secure satellite communications with programs like SPAINSAT NG, showcasing advancements in military capabilities. French initiatives like the military satellite Syracuse 4B and its satellite constellation collaboration with India are a prime example of innovation and international partnerships. Because of the COSMO-SkyMed constellation and the SICRAL 3 secure communications system Italy is a major player in defense communication and Earth observation. Other European countries like the Netherlands Switzerland and Sweden have expertise in areas like precision engineering scientific research and Earth observation which enhances the overall M2M satellite communication landscape.
The major M2M satellite communication hardware, software and service providers include Marlink (France), Viasat (US), Thales (France), ORBCOMM (US), Iridium Communications (US), Globalstar (US), Orange (France), EchoStar (US), Intelsat (US), Rogers Communications (Canada), SES (Luxembourg), Gilat (Israel), Telia (Sweden), Kore Wireless (US), Honeywell (US), Qualcomm (US), Telesat (Canada), Wireless Logic (England), Outerlink Global Solutions (US), Nupoint Systems (Canada), Businesscom Networks (US), Semtech (US), Yahsat (UAE). These companies have used both organic and inorganic growth strategies such as product launches, acquisitions, and partnerships to strengthen their position in the M2M satellite communication market.
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