Global Satellite Phone Market 2019-2023 | Growth Analysis and Forecast | Technavio
LONDON--(BUSINESS WIRE)--Nov 8, 2018--Technavio ’s global satellite phone market research report forecasts the market to grow at a CAGR of over 4% during the forecast period.
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Technavio’s global satellite phone market research report forecasts the market to grow at a CAGR of over 4% during the forecast period, 2019-2023. (Graphic: Business Wire)
The constellations of nano and micro satellites placed in a low-earth orbit that is about 680 miles from the Earth’s surface, will help in reducing the latency of the Internet service to around 20-30 milliseconds. Hence, nano and micro satellite-based Internet infrastructure is a good alternative to provide low-cost, satellite-based Internet services. This will result in the development of low-cost, satellite-based Internet services, which will be one of the major trends in the during 2019-2023.
According to Technavio’s analysts, one of the key drivers for the global satellite phone market will be the advantages of satellite phones over landline and cellular phones:
Global satellite phone market: Advantages of satellite phones over landline and cellular phones
Satellite phones are usually used for emergency communications to coordinate response and recovery efforts in remote areas. The existing networks are susceptible to damage or becoming overloaded during natural disasters such as severe weather or earthquakes. They can even be damaged in cases of potential chemical, biological, radiological, nuclear, or explosive events.
According to a senior analyst at Technavio for research on semiconductor equipment, “Satellite phones assist in maintaining the command and control functions during emergencies when the existing communication networks in that specific area are non-functional. These phones are simpler to operate when compared with cellular phones and are comparatively rugged to withstand extreme weather conditions. During the forecast period, the rugged nature of satellite phones will be a major driving factor for the growth of the market.”
Global satellite phone market: Segmentation analysis
This global satellite phone market analysis report provides market segmentation by satellite type (GEO (geosynchronous orbit) satellite and LEO (low-earth orbit) satellite) and by region (the Americas, APAC, and EMEA). This report provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Of the two satellite type segments, the GEO satellite segment held the largest satellite phone market share in 2018, contributing to around 70% of the market. This segment will dominate the global market throughout the forecast period.
The Americas held the largest share of the market in 2018, accounting for more than 36% share. It was followed by EMEA and APAC respectively. The Americas is expected to dominate the market throughout the period 2019-2023.
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market LandscapeMarket ecosystem Market characteristics Market segmentation analysis
Market SizingMarket definition Market size and forecast
Five Forces Analysis
Geographical SegmentationRegional comparison Key leading countries
Vendor LandscapeVendors covered Vendor classification Market positioning of vendors Competitive scenario
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SOURCE: Technavio Research
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PUB: 11/08/2018 02:03 PM/DISC: 11/08/2018 02:02 PM