A fresh research report has forecast that the global M2M satellite communication market was expected to grow from US $2,983.4 million in 2014 to $4,763.4 million by 2019, at an estimated compound annual growth rate (CAGR) of 9.8 per cent from 2014 to 2019.
Research agency MarketsandMarkets conducted a study on the ‘M2M Satellite Communication Market [VSAT, AIS, Satellite Telemetry, Satellite Modems, Gateways, Managed Services, Business Services, and Broadband Services] – Worldwide Market Forecast and Analysis (2014 – 2019)’, which analyzed and studied the major market drivers, restraints, and opportunities in North America (NA), Europe (EU), Middle East and Africa (MEA), Asia Pacific (including Japan; APAC), and Latin America (LA).
Increasing data communication needs, rising M2M applications, and fast returns on investments was leading to the creation of more and more avenues for M2M satellite market. With the advent of Cloud applications in almost every other vertical, M2M satellite communications can offer enormous opportunities for the development of such solutions and services, especially since it had presence across verticals such as automobiles and telecommunication, transportation and logistics, oil and gas, energy and utilities, mining, maritime, agriculture, public affairs, and healthcare.
The report also drew the competitive landscape of the M2M Satellite Communication Market, providing an in-depth comparative analysis of the technological and marketing strategies that the key players were adopting in order to gain an edge over their competitors. The key strategies followed by most companies in the global M2M Satellite Communication Market were a reduction in subscriber costs, reduction in network latency, and introduction of new features.
Image Credit: MarketsandMarkets
– Advertising Message –