Satellite Modem Market Projected to reach $710 million by 2026

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).

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High speed data rate satellite modems are expected to hold the largest share of the market during the forecast period.

The market for high-speed data rate satellite modems is expected to grow from 2021 to 2026 due to the increasing demand for high-data rate and high-bandwidth applications such as mobile & backhaul and offshore communication. The need for internet, cellular, and data network connectivity for remote locations is met by satellite service providers. High-speed data rate satellite modems are essential to keep up with the high demand for data while also controlling operational expenses. Furthermore, the commercial and military sectors' increasing demand for on-the-move communications at high data rates drives the high-data-rate satellite modem market. As a result, high-speed data rate satellite modems are expected to hold the largest share of the market from 2021 to 2026.

Offshore communication application are expected to hold the largest share of the market during the forecast period.

High-speed data rate satellite modems are primarily used on offshore platforms to establish satellite communication connectivity between remote locations and the head office. In offshore communication, there is a growing demand for applications such as video conferencing, email communication, and data transfer to improve overall operational efficiency. This creates a need for high bandwidth and high data rate, which is met by satellite modems. They enhance satellite communications by offering a wide range of modulation options and superior link reliability and efficiency for offshore communication. Therefore, satellite modems are essential for meeting the increasing demand for high-speed offshore communication.

Satcom-on-the-move (SOTM) technology based satellite modem is expected to grow at the highest CAGR during the forecast period.

Satcom on-the-move (SOTM) terminals are increasingly being used in military and commercial applications. In military applications, SOTM terminals are used primarily for tactical communication, while in commercial applications, they are used for broadband Internet services. SOTM terminals are used for broadband communication by maritime vessels, trains, airplanes, land vehicles, and other means of transport. Satellite modems such as EBEM MD-1366 and CBM-400 of Viasat, Inc.; 9800 AR of ST Engineering iDirect, HM400 of Hughes Networks Systems, and QMultiFlex-400 Point-to-Multipoint Satellite Modem of Teledyne Technologies offer communications on the move functionality. Therefore, the use of SOTM terminals and satellite modems plays a vital role in enabling reliable and high-speed communication for military and commercial applications.

Satellite modem market in APAC to grow at highest CAGR during the forecast period.

In the Asia-Pacific (APAC) region, the telecommunications and oil & gas industries are expected to drive the satellite modem market. The telecom and internet service industries are growing in countries like India and China. Satellite technology provides quick-to-deploy solutions and helps telecom operators overcome geographical challenges in extending their coverage to remote areas. The expansion of telecom connectivity in the region has led to high demand for mobile and backhaul, and satellite-based backhaul. This increasing demand for mobile and backhaul is responsible for the high demand for satellite modems. Therefore, the telecommunications industry's growth and the need for quick-to-deploy solutions drive the satellite modem market in the APAC region.

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Comtech Telecommunications Corp. (US), ST Engineering (Singapore), Teledyne Technologies (US), Gilat Satellite Networks Ltd. (Israel), Viasat, Inc. (US), ORBCOMM Inc. (US), NOVELSAT (Israel), Datum Systems (US), Hughes Network Systems (US), WORK Microwave GmbH (Germany), ND SATCOM (Germany), Amplus Communication (Singapore), AYECKA Ltd (Israel), and SatixFy (Israel) are few major players in satellite modem market.

News also Covered: https://www.prnewswire.com/news-releases/satellite-modem-market-worth-710-million-by-2026--exclusive-report-by-marketsandmarkets-301408520.html

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