LONDON--(BUSINESS WIRE)--Technavio market research analysts forecast the global satellite ground station equipment market to grow at a CAGR of over 7% during 2018-2022. The growing preference for MEO and LEO over GEO satellites is a key trend which is expected to impact the growth of the market.
The increase in demand for application such as GPS as well as the growing need to strengthen the network signal and bandwidth are driving the adoption of LEO and MEO satellites despite their high costs. The deployment of these satellites will lead to the development of new satellite ground stations, thereby driving the growth of the satellite ground station equipment market.
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In this report, Technavio researchers identify the increasing need to enhance offshore communication as one of the key factors contributing to the global satellite ground station equipment market:
Increasing need to enhance offshore communication
There is a growing need to deploy efficient communication networks for offshore crews and passengers including fishermen, sailors, engineers on oil rigs, and tourists on cruise ships to communicate. Providing a cellular connection offshore is difficult as the installation of cell towers is a challenging task. Therefore, the increasing need for offshore communication can be achieved using satellite communication.
“The increasing demand for improved satellite communication is creating demand for satellite ground station equipment to modulate and demodulate signals,” says a senior analyst at Technavio for m2m and connected devices research.”
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Global satellite ground station equipment market - segmentation and analysis
This market research report segments the global satellite ground station equipment market by equipment (NOC, VSAT, antennas, power units, gateways, test and monitory equipment) and key regions (Americas, APAC, and EMEA).
In 2017, the Americas dominated the global satellite ground station equipment market with a market share of close to 56%, followed by EMEA and APAC. The market share of APAC is expected to witness the maximum increase over the forecast period while the Americas will see a corresponding decline in its market share.
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