LONDON--(BUSINESS WIRE)--The global satellite ground station equipment market is expected to post a CAGR of more than 6% during the period 2019-2023, according to the latest market research report by Technavio. However, the market’s momentum will decelerate in the coming years because of the decrease in the year-over-year growth.
A key factor driving the growth of the global satellite ground station equipment market size is the increasing use of Earth observation (EO) satellites for remote sensing applications. EO satellites widely use remote sensing technique to gather and interpret information about the planet's resources and behavior. The success of an Earth observation satellite mission relies on being able to operate the satellite from the ground. This increases the demand for ground stations that are equipped with network control center with an antenna to send commands to the satellite and receive the information. Thus, the increasing use of satellites for remote sensing applications will drive the demand for satellite ground station equipment during the forecast period.
As per Technavio, the emergence of the mobile ground station will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global satellite ground station equipment market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Satellite Ground Station Equipment Market: Emergence of the Mobile Ground Station
The construction of a ground station that is designed to track, communicate, and process the data received from satellites requires high upfront investments. This has led to the adoption of small and portable ground stations that involve less upfront costs. Moreover, the mobile ground station allows researchers in space to have easy access to satellite signal in the absence of a traditional ground station. Furthermore, the mobile earth station can be transportable and can be made available even in remote locations. Thus, the emergence of the mobile ground station is identified as one of the key satellite ground station equipment market trends that will impact market growth during the forecast period.
“Apart from the emergence of the mobile ground station, other factors such as the deployment of a 5G ecosystem, and the increase in strategic partnerships will have a significant impact on the satellite ground station equipment market growth during the forecast period,” says a senior analyst at Technavio.
Global Satellite Ground Station Equipment Market: Segmentation Analysis
This market research report segments the global satellite ground station equipment market by type (NOC equipment, VSAT equipment, antennas, power units, gateways, test and monitoring equipment, and others), and geographic regions (North America, APAC, Europe, South America, and MEA).
The North American region led the satellite ground station equipment market in 2018, followed by APAC, Europe, South America, and MEA respectively. The growth of the satellite ground station equipment market in North America can be attributed to several factors such as the presence of numerous satellite service providers, and rising number of new satellite launches. New satellites are launched to facilitate high-speed and affordable broadband satellite Internet services and high data rates backhaul links to telecommunication operators and ISPs.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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