Dublin, July 06, 2021 (GLOBE NEWSWIRE) -- The "Satellite Machine-to-Machine (M2M) Communications - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Satellite Machine-to-Machine (M2M) Communications Market to Reach $4.1 Billion by 2026
Amid the COVID-19 crisis, the global market for Satellite Machine-to-Machine (M2M) Communications estimated at US$2 Billion in the year 2020, is projected to reach a revised size of US$4.1 Billion by 2026, growing at a CAGR of 12.7% over the analysis period.
Satellite Telemetry, one of the segments analyzed in the report, is projected to grow at a 12.4% CAGR to reach US$1.8 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Automatic Identification System (AIS) segment is readjusted to a revised 11.7% CAGR for the next 7-year period. This segment currently accounts for a 33.3% share of the global Satellite Machine-to-Machine (M2M) Communications market.
Satellite M2M communication involves the use of a worldwide network of low-earth orbit (LEO) along with associated ground infrastructure, which enables access to services from any global location. Growing acceptance and popularity of satellite based network connectivity for establishing machine to machine communications in a range of end-use markets will drive strong growth in satellite M2M connections across the globe in coming years.
For instance, Satellite M2M is widely used in the freight and public transportation sectors for automatically tracking/monitoring moving vehicles, tracking/monitoring logistical assets in transit, and coordinating/managing fleet etc. from remote location with little or no human intervention. The adoption of satellite M2M has also been widespread over the years in military/defense sector where they are used for wide ranging applications, including for tracking combat assets; enabling security & surveillance at unmanned areas etc.
Satellite M2M is also being widely used for information exchange, digitalization and automation of work, remote monitoring of process environment or capital equipment, and machine control among other applications in industrial segment, particularly those with remote or unmanned working environments such as in oil & gas, mining, utilities etc.
Corporate and government organizations are also using satellite M2M for remotely monitoring and tracking large number of assets and equipment at fixed locations across geographical areas with minimal or without human intervention. Satellite M2M also finds widespread use for telemetry and scientific monitoring applications in various end-use segments.
The U.S. Market is Estimated at $836.6 Million in 2021, While China is Forecast to Reach $546 Million by 2026
The Satellite Machine-to-Machine (M2M) Communications market in the U.S. is estimated at US$836.6 Million in the year 2021. The country currently accounts for a 37.98% share in the global market. China, the world`s second largest economy, is forecast to reach an estimated market size of US$546 Million in the year 2026 trailing a CAGR of 15.4% through the analysis period.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 10.3% and 11.5% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 12.5% CAGR while Rest of European market (as defined in the study) will reach US$634 Million by the end of the analysis period.
The United States and Europe constitute the key revenue generators through the approaching years. Representing the foremost propagators of the satellite technology, putting efforts in developing, launching and utilizing the world`s first satellites in 1950s and 1960s, the two regions continue to expand their satellite capabilities in the 21st century as well.
Different types of satellite-based services such as consumer services, fixed services, mobile voice & data services, and remote sensing services are widely available in the US and Europe. Satellite services domain is gathering further momentum in these regions amid proliferation of new generation technologies such as Internet of Things (IoT).
Very Small Aperture Terminal (VSAT) Segment to Reach $1.2 Billion by 2026
In the global Very Small Aperture Terminal (VSAT) segment, USA, Canada, Japan, China and Europe will drive the 13.9% CAGR estimated for this segment.
These regional markets accounting for a combined market size of US$484.1 Million in the year 2020 will reach a projected size of US$1.2 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$110.5 Million by the year 2026.
Key Topics Covered:
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
COVID-19 Whirlwind Eclipses Expansion of Satellite Machine-to-Machine Market in Immediate Term
'New Normal' with New Changes
Satellite M2M Market Unlikely to Stay Stuck in COVID-19 Quagmire for Long
COVID-19 Shock Accentuates Critical Significance of Satellite Industry for Connectivity
Brief Overview of the Satellite Industry
Factors Affecting the Satellite Sector
Short-Term Market Opportunities
Opportunities in Ka-Band Services
Role of ITU in the Satellite Industry
Satellite Industry Defies Recession
EXHIBIT 2: Number of Satellite Launches 2001-2019
Mobile Satellite Services Market: An Insight
Military and Government: Key Customers of Mobile Satellite Communications
An Introduction to Machine-to-Machine (M2M) Communication
Key Components of M2M Communication System
Applications of M2M Communication Technology
Wireless M2M Systems
Satellite M2M Communication
Select End-Uses of Satellite M2M Systems
Satellite Telephones: An Application of Satellite M2M Technology
Machine-to-Machine (M2M) Communication: Turns into a Huge Market Opportunity
Satellite M2M Communication: Harnessing the Power of Satellite Networks to Establish M2M Communications
Satellite M2M Services - Turning into a Lucrative Recurrent Revenue Stream for Satellite Network Operators
Widespread Proliferation of Satellite-Enabled Devices Steers Market Momentum
Satellites Hold Potential of Bolstering IoT Connectivity
US & Europe: Prime Revenue Contributors
Developing Regions: Hot Spots for Future Growth
Positive Momentum in Satellite Services Sector Lends Platform for Market Growth
Competitive Scenario: American Companies Dominate the Market
Satellite Companies Closing the Connectivity Gap
Stakeholders Gear Up to Tackle COVID-19 Challenge
Remote Monitoring & Need for New Data Sources in Post-COVID-19 Phase to Augment Satellite M2M Services
Recent Market Activity
2. FOCUS ON SELECT PLAYERS(Total 45 Featured)
CGI Group Inc.
Cognizant Technology Solutions Corporation
DXC Technology Co.,
Indra Sistemas S.A.
Micro Focus International plc
Northrop Grumman Corporation
Science Applications International Corporation (SAIC)
SmartBear Software Inc.
Tata Consultancy Services Limited (TCS)
Tech Mahindra Limited
T-Systems International GmbH
3. MARKET TRENDS & DRIVERS
Robust Opportunities in the Automotive Sector
Security & Surveillance Systems: Prominent End-Use Domain
Growing Role of IoT Elevates Importance of Satellite M2M
Satellite IoT: Driving the New Space Era
M2M Technology Poised to Transform UAE Businesses
Widespread Use in Aerospace & Defense Applications
Defense Spending Patterns Influence Market Uptake
Satellite SCADA Applications Gaining Traction
Growing Relevance of SCADA-HMI
RTUs: The Fundamental Building Block for SCADA Systems
Satellite M2M Gains Critical Importance in Transportation & Logistics Applications
Widening Use Case in Commercial Land Transportation
Spiraling Competition in the Trucking Industry Drives Focus on Telematics
Commercial Vehicle Tracking & Monitoring Systems for Emergency Crash Response
Government Intervention Bodes Well for the Market
Satellite M2M Services Gain Increased Acceptance in the Maritime Industry
Satellite M2M for Shipping Fleet Optimization
Satellite M2M Seeks to Widen its Role in Oil & Gas Sector
Declining Cost & Complexity of Implementation to Drive Uptake of Satellite M2M Services
Cost Benefits of Satellite M2M in End-Use Sectors
Government Intervention Bodes Well for the Market
New Technology Innovations & Product/Service Developments to Drive Growth
Dual Mode Solutions to Help Sustain Demand Prospects for Satellite M2M
Cloud Platforms to Expand Reach of Satellite M2M
Development of Multi-Network M2M Platforms Spearhead Market Growth
Standardization: Key for Wider Adoption of Satellite M2M
Intense Competition from Cellular M2M Networks
Security Concerns Limit Growth Opportunities
High Equipment and Bandwidth Cost Restrain Growth
Low Awareness about Satellite Capabilities Hampers Adoption
Lack of Interoperable Equipment
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
Total Companies Profiled: 45
For more information about this report visit https://www.researchandmarkets.com/r/xun3ud
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