LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the global satellite M2M connections and services market is expected to grow at a CAGR of almost 15% and 10% respectively during the forecast period.
This research report titled ‘Global Satellite M2M Connections and Services Market 2016-2020’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes an up to date analysis and forecasts for various market segments and all geographical regions.
The presence of M2M products, solutions, and services in varied application areas, such as smart homes, connected cars, connected supply chain management (SCM) in manufacturing, and connected transport and logistics is fueling the services market revenue.
Request a sample report: http://www.technavio.com/request-a-sample?report=52571
Technavio’s sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.
The report categorizes the global satellite M2M connections and services market into four major application segments. They are:
- Oil and Gas
The global satellite M2M services market by government sector is expected to reach USD 1.3 billion by 2020, growing at a CAGR of more than 5%. The government sector dominates the global satellite M2M services for various military and government applications that involve monitoring and tracking of logistics and location-based tracking of military forces.
Governments employ systems such as Blue Force Tracking (BFT) and movement tracking system (MTS), which help to provide the location of friendly and hostile military forces. MTS is a system that provides the technology necessary to communicate with tactical wheeled vehicles and other combat support. It plays a vital role in battlefield distribution operations. Satellite M2M connectivity is used in the implementation of these systems.
The global satellite M2M services market by transportation sector is expected to reach USD 1.4 billion by 2020, growing at a CAGR of almost 12%. Satellite M2M services are extensively used in the transportation sector for asset tracking, fleet management and monitoring, and telematics.
According to Rakesh Kumar Panda, a lead analyst at Technavio for M2M and connected devices research, “They help to improve the overall efficiency of supply chains by allowing inventory level monitoring, fleet tracking, event-based monitoring, and inventory condition monitoring.” For example, a gold mining company in the remote region of Western Ghana would not be able to track its truck from the mining site to the base location where the company is located due to lack of cellular connectivity. In this scenario, satellite M2M would be the solution to this issue and provide an economical and effective way to monitor the location of the truck.
Oil and gas
The global satellite M2M services market by oil and gas sector is expected to reach USD 1.3 billion by 2020, growing at a CAGR of approximately 13%. The global satellite M2M services market by oil and gas sector will grow steadily during the forecast period. The market is driven by an increase in the number of oil and gas rigs and the growing dependence of the industry on high-speed broadband services for the safety and security of rigs and pipelines. Most exploration and production (E&P) units are located in remote areas, where terrestrial connectivity is unavailable. Thus, satellite communication remains the only reliable and cost-effective way to obtain high-speed broadband connectivity for these companies.
The oil and gas industry will have to meet a demand-supply match in addition to contending with the increased rates of depletion of producing reservoirs. Satellite M2M communication provides comprehensive high accurate surveying and mapping benefits for the oil and gas industry. In addition, due to easy deployment and installation, most oil and gas companies prefer satellite communications. “VSAT and MSS satellite units are easily deployable and can operate in hostile locations. The smaller size of the VSAT and MSS terminals also makes them highly portable and an ideal solution for emergency situations,” says Rakesh.
The global satellite M2M services market by other sectors is expected to reach USD 240 million by 2020, growing at a CAGR of more than 11%. The global satellite M2M services market by the others segment will generate significant revenue during the forecast period.
This segment includes the use of satellite M2M in sectors such as utilities, mining, green energy, and agriculture. In mining, satellite M2M connectivity is used to track and monitor assets from remote locations. Satellite M2M provides reliable and economical means of communication in remote areas. In the utility sector, satellite M2M is widely used in smart grid communications.
The top vendors highlighted by Technavio’s ICT research analysts in this report are:
- Iridium Communications
- Rogers Communications
Browse Related Reports:
- Global M2M Homeland Security Market 2015-2019
- Cellular M2M Connections Market in the US 2015-2019
- M2M Connections and Services Market in China 2015-2019
Do you need a report on a market in a specific geographical cluster or country but can’t find what you’re looking for? Don’t worry, Technavio also takes client requests. Please contact email@example.com with your requirements and our analysts will be happy to create a customized report just for you.
Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
If you are interested in more information, please contact our media team at firstname.lastname@example.org.