“Increasing demand for SATCOM equipment for space exploration, telecommunication, & telemetry will drive the SATCOM equipment market”
The SATCOM equipment market is estimated to be USD 20.20 billion in 2017 and is projected to reach USD 30.32 billion by 2022, at a CAGR of 8.46% from 2017 to 2022. Factors such as low cost, technology advancements, ease of deployment, mass production, and long lifecycle of SATCOM equipment have garnered the interest of satellite manufacturers and related players in the satellite industry. The growth of the satellite market has increased the demand for SATCOM equipment, which, in turn, boosts the SATCOM equipment market.
Based on product, the SATCOM transceiver segment is projected to witness the highest growth during the forecast period. The increasing adoption of satellite-based services is the prime factor expected to drive the growth of this segment during the forecast period. The SATCOM transceivers designed for commercial and military use are mainly used for earth observation, remote sensing, and mobile & telecommunication services.
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Based on vertical, the commercial segment of the SATCOM equipment market is projected to witness a higher growth rate than the government & defense segment during the forecast period. Among the important commercial applications of satellite communication are video, voice, IP data, radio, Earth and space observation, global resource monitoring, positioning (GPS), and microgravity science. Continual reduction in the cost of SATCOM systems, their increasing demand, increase in the number of vertical areas, growth in investments from Silicon Valley, and superior mission launches are expected to fuel the growth of the SATCOM equipment market.
Among regions, the SATCOM equipment market in Asia Pacific is expected to witness the highest growth during the forecast period, owing to the increasing demand in the consumer industry for satellite broadband and telecommunication, especially in countries such as India, Japan, and China.
Integration of SATCOM equipment in automobiles for navigation and entertainment through radio, rising demand for high data rate communication, and proposed development of satellite networks to provide internet access to areas without broadband connectivity are some of the potential opportunities for the industry players to expand their business.
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