Published Date : Oct 24, 2016
ALBANY, NY, Oct 24, 2016: The report is titled, “Global Satellite M2M Connections and Services Market 2016-2020.” The study provides an in-depth reports of the growth trajectory of the global satellite M2M connections and services market and the growth opportunities present for companies to capitalize on.
The report further evaluates the factors that are likely to drive or restrain the global satellite M2M connections and services market. An outlook of the predominant trends has also been presented in the research report. The study also projects the volume and revenue growth of the global satellite M2M connections and services market. To present a clear picture of the market, an evaluation of the competitive landscape has been presented along with information on the degree of barriers to entry and exit. The study also presents an reports of the strategies, products, and shares of the key companies operating in the global satellite M2M connections and services market. According to the report, the global satellite M2M connections and services market is expected to expand at a CAGR of approximately 15% and 10%, respectively, by the end of 2020.
The study states that the soaring demand for high-end M2M data communication connections is likely to emerge as a leading factor positively impacting the growth of the global satellite M2M connections and services market. M2M communication technology is being considered as the next-generation technology by many leading companies for improving operational efficiency and effectiveness. The global market for satellite M2M connections and services is expected to witness strong growth owing to the deployment of the latest M2M systems for business solutions such as real-time monitoring of remote assets.
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The report further highlights the benefits of satellite M2M connections and services such as the ability to support remote monitoring, industrial automation, and real-time management of assets. As a result of these benefits, the market is expected to grow significantly. The government sector emerged dominant among all application segments with a share of over 37% in 2015. The demand for M2M connectivity is likely to rise in the government sector owing due to the extensive deployment of M2M connections for a wide range of government and military applications such as tracking military forces based on location and tracking and monitoring of logistics.
Region-wise, the Americas emerged dominant and is likely to retain a strong hold over the global satellite M2M connections and services market by 2020. The market in the region is anticipated to expand at a CAGR of 11% by the end of the forecast period owing to the rising application of M2M communication technology in industries such as transportation, oil and gas, and mining. The study further states that the competitive rivalry among the leading players is expected to intensify over the forthcoming years due to the upcoming services and innovations in M2M technology. Some of the leading companies operating in the market are Rogers Communications, ORBCOMM, Kore, Iridium Communications, and Globalstar.
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