With the market to reach $4.1 billion worldwide by 2026, A new market study published by Global Industry Analysts Inc., (GIA), the premier market research company, today released its report titled “Satellite Machine-to-Machine (M2M) Communications – Global Market Trajectory & Analytics”. The report presents fresh perspectives on opportunities and challenges in a significantly transformed post-COVID-19 marketplace.
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ABSTRACT-
Global Satellite Machine-to-Machine (M2M) Communications Market to Reach $4.1 Billion by 2026
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 a remote location with little or no human intervention. The adoption of satellite M2M has also been widespread over the years in the military/defense sector, where they are used for wide-ranging applications, including 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 the 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 a 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.
Amid the COVID-19 crisis, the global market for Satellite Machine-to-Machine (M2M) Communications, estimated at US$2.4 Billion in the year 2022, 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.
The U.S. Market is Estimated at $921.1 Million in 2022, 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$921.1 Million in the year 2022. The country currently accounts for a 37.98% share in the global market. China, the world.
Very Small Aperture Terminal (VSAT) Segment to Reach $1.2 Billion by 2026
In the global Very Small Aperture Terminal (VSAT) segment, the 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, 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. More
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