Satellite Modem Market Report
RA08566
Satellite Modem Market by Channel Type (SCPC and MCPC), Technology (VSAT, Satcom-on-the-move, Satcom-on-the-pause, and Others), Application (Mobile & Backhaul, IP-trunking, Enterprise & Broadband, Media & Broadcast, and Others), End-user (Telecommunications, Marine, Military & Defense, Transportation & Logistics, Oil & Gas, and Others), and Regional Analysis (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2021–2028
Satellite Modem Market Analysis
The global satellite modem market is anticipated to garner $1,004.4 million in the 2021–2028 timeframe, growing from $348.7 million in 2020, at a healthy CAGR of 14.4%.
Market Synopsis
The satellite modem market is expected to grow due to growing demand for satellite communications in various IoT applications. Additionally, acquisitions and business expansion by key market players are anticipated to boost the market growth.
The satellite modem market expansion is being hindered by ambiguity in the regulatory framework governing satellite communications techniques and standards.
According to the regional analysis of the market, the Asia-Pacific satellite modem market is anticipated to grow at a CAGR of 15.3%, by generating a revenue of $264.6 million during the review period.
Satellite Modem Overview
Modulator and demodulator are abbreviated as modem. A modem is a device that is utilized in almost all wireless and wireline networks. The main function of a modem is to modulate baseband information on an RF carrier and recover the baseband information by demodulating the modulated RF signal. Satellite modem is a type of modem that is used to connect to and access satellite networks. It connects the MUX/EPABX on one side to the RF transceiver on the other. It is mostly used to give voice/data application assistance to remote places through satellite.
Impact Analysis of COVID-19 on the Global Satellite Modem Market
In the recent years the world has experienced an unprecedented situation of COVID-19 outbreak, due to which the world has been impacted very badly. All the industries across the globe have been impacted negatively, this has caused a severe disruption in the manufacturing and supply chain of various industries. Additionally, the population across the globe is affected as many people have lost their jobs and the spending capacity has decreased due to this. In the recent years, almost every industry in the world has suffered a setback. Over the forecast period, the aforementioned factors are likely to weigh on the global satellite modem market revenue. However, as the respective governments begin to loosen the lockdown regulations it is anticipated that the market will grow at better rate.
Rapid Developments Across the Satellite Industry is Projected to Drive the Market Growth
In the recent years, the satellite modem market is likely to be driven by an increase in the demand for richer data transmission and increasing demand for solutions that may assist in vehicle tracking, asset monitoring, and fleet management. In addition, satellite modem key players are working continuously in order to meet the growing demand from the consumers regarding the communications advancements, these factors are anticipated to drive the market growth in the near future.
To know more about global satellite modem market drivers, get in touch with our analysts here.
Uncertain Regulations Regarding Satellite Communications are Anticipated to Restrain the Market Growth
Satellite operators struggle to determine if and to what extent regulations apply to them due to ambiguous legal frameworks. Furthermore, national authorities do not have a unified approach to licensing and frequency authorizations. Small satellite operators may face difficulties with frequency licensing since the frequencies they use—the VHF and UHF bands—are typically new to national authorities when compared to the L, S, C, Ku, and Ka bands. This is a significant challenge for satellite modem makers, as they must incorporate all of these standards and communication protocols when producing modems for various counties or areas.
Rise in Demand for Connected Devices across the Globe to Create Growth Opportunities
The rising demand for the connected healthcare devices, home devices, and connected automobiles is anticipated to create better growth opportunities in the near future. Additionally, the technological advancements towards the developments in the next generation smart phones, advancements in the infrastructures, and integrating the technology with the existing on-premise applications to cloud networks are anticipated to create better growth opportunities in the near future.
To know more about global satellite modem market opportunities, get in touch with our analysts here.
Based on channel type, the market has been divided into SCPC modem and MCPC Modem. MCPC Modem sub-segment is anticipated to be the fastest growing sub-segment in the projected time frame. Download PDF Sample ReportSatellite Modem Market
By Satellite Modem
Source: Research Dive Analysis
The MCPC modem sub-segment is anticipated to have the fastest growth rate of 16.2% and generate a revenue of $530.7 million by 2028, growing from $163.3 million in 2020.
The rise of the MCPC modem sub-segment is majorly attributed to the extraordinary channel efficiency provided by these modems, which is a key requirement of high-data-traffic applications such as internet, mobile communication, and broadband services. Satellite modems from MCPC can connect to IP networks for a seamless communication, video, and data connection. MCPC modem technology can deliver broadband internet services for enterprise networks due to its high data rate capacity over satellite technology.
Satellite Modem Market
By TechnologyBased on technology, the market has been divided into VSAT, Satcom-on-the-move, satcom-on-the-pause, and others. Satcom-on-the-pause sub-segment is anticipated to be the fastest growing sub-segment in the projected time frame.
Source: Research Dive Analysis
The satcom-on-the move sub-segment is held the largest market value in 2020 accounting for $121.5 million and is anticipated to grow at CAGR of 14.7% during the forecast period.
Military and commercial applications are increasingly relying on satcom on-the-move (SOTM) terminals. These terminals are primarily used for tactical communication in military applications. Maritime boats, trains, airplanes, land vehicles, and other modes of transportation employ SOTM terminals for broadband communication. SOTM terminals are largely employed in business applications for broadband Internet access.
Satellite Modem Market
By ApplicationBased on application, the market has been divided into mobile & backhaul, IP-Trunking, enterprise & broadband, media & broadcast, and others. IP-Trunking sub-segment is anticipated to be the fastest growing sub-segment in the projected time frame.
Source: Research Dive Analysis
The IP-trunking sub-segment is anticipated to have the fastest growth rate of 15.2% and generate a revenue of $293.1 million by 2028, growing from $96.9 million in 2020.
The growth is mostly due to the vast range of benefits provided by IP-trunking, such as infinite employee mobility, a reliable phone service, and a powerful end-to-end unified communications system that aids in data security while also improving communication system quality. Furthermore, IP trucking enables users to use the same IP-based network for a variety of data transmissions, including video, voice, and more. Multiple, overlapping networks are no longer required.
Satellite Modem Market
By End-userBased on end-user, the analysis has been divided into telecommunications, marine, military & defense, transportation & logistics, oil & gas, and others. Out of these, military & defense sub-segment is predicted to be the fastest growing sub-segment during the forecast period.
Source: Research Dive Analysis
The military & defense sub-segment of the global satellite modem market is anticipated to grow at the highest CAGR of 15.1% and reach $269.0 million by 2028, growing from $90.3 million in 2020.
Satellite communication is widely utilized in military and defense activities for a various of purposes, such as information gathering, situational awareness, and border patrol. In the recent years, the volume of data, speech, and video transferred between headquarters and outlying sites has increased drastically. Majorly the satellite modems are deployed for such conditions in military and defense end-user. Satellite modems also provide high-speed satellite communications for missions that are on the go, stationary, point-to-point, or point-to-multipoint. Satellite modems are also essential for military and defense operations to ensure safe and dependable communication which are majorly used in regions where the telecom network is not available such a Siachen in India
Global Satellite Modem Market, Regional Insights:
The satellite modem market was investigated across North America, Europe, Asia-Pacific, and LAMEA.
Source: Research Dive Analysis
The Asia-Pacific Satellite Modem Market is Anticipated to Experience the Fastest Growth Rate
Satellite modem market in the Asia-Pacific region is anticipated to grow at the highest CAGR of 15.3% and reach $264.6 million in 2028.
The Asia-Pacific growth is majorly attributed to the growing investments and the number of satellites launches in the developing nations such as China, India, Japan, and South Korea. The key reasons for the huge investments in this region are to cover the remote areas and because of the growing demand for the high speed data connectivity along with the high uninterrupted data services. Additionally, technological advancements taking place in this region is another key driver which is anticipated to boost the growth of Asia-Pacific region in the coming years. Moreover, the high spending on military and defense projects is also anticipated to upsurge the market in the near future.
Competitive Scenario in the Global Satellite Modem Market
Product advancements, innovations, and business expansion are common strategies followed by major market players.
Source: Research Dive Analysis
Some of the leading satellite modem market players are Datum System, ORBCOMM Inc., Gilat Satellite Networks Ltd., ST Engineering, Viasat, Inc., Teledyne Technologies, Comtech Telecommunications Corp., Work Microwave GmbH, Hughes Network Systems, and Novelsat.
Porter’s Five Forces Analysis for the Global Satellite Modem Market:
- Bargaining Power of Suppliers: The number of satellite modem players is moderate. However, there is a growing demand for connected devices and the GEO satellites, thus the bargaining power of suppliers is high.
Thus, the bargaining power suppliers is high. - Bargaining Power of Buyers: Buyers have little bargaining power because establishing satellite modems requires a large capital investment.
Thus, the bargaining power of the buyers is low. - Threat of New Entrants: The companies entering satellite modem market have to deal with high investment cost and adhere to the environmental regulations as well.
Thus, the threat of the new entrants is low. - Threat of Substitutes: The availability of the alternatives for the satellite modem is very low.
Thus, the threat of substitutes is low. - Competitive Rivalry in the Market: The competitive rivalry among industry leaders is extensive mainly because the number of players operating in satellite modem industry are focusing on enhancing the efficiency of the data transfers, business expansion, and product innovations.
Therefore, competitive rivalry in the market is high.
| Aspect | Particulars |
| Historical Market Estimations | 2019-2020 |
| Base Year for Market Estimation | 2020 |
| Forecast Timeline for Market Projection | 2021-2028 |
| Geographical Scope | North America, Europe, Asia-Pacific, LAMEA |
| Segmentation by Channel Type |
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| Segmentation by Technology |
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| Segmentation by Application |
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| Segmentation by End-user |
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| Key Companies Profiled |
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Q1. What is the size of the global satellite modem market?
A. The size of the global satellite modem market was over $348.7 million in 2020 and is projected to reach $1,004.4 million by 2028.
Q2. Which are the major companies in the satellite modem market?
A. Datum System, ORBCOMM Inc., and Gilat Satellite Networks Ltd. are some of the major companies operating in the global satellite modem market.
Q3. Which region, among others, possesses greater investment opportunities in the near future?
A. The Asia-Pacific region possesses great investment opportunities for investors to witness the most promising growth in the future.
Q4. What will be the growth rate of the Asia-Pacific satellite modem market?
A. The growth rate of the Asia-Pacific Satellite modem market is 15.3%.
Q5. What are the strategies opted by the leading players in this market?
A. Product innovations, technological advancements, and business expansions are the key strategies opted by the operating companies in this market.
Q6. Which companies are investing more on R&D practices?
A. Datum System, ORBCOMM Inc., and Gilat Satellite Networks Ltd. companies are investing more on R&D practices.
1.Research Methodology
1.1.Desk Research
1.2.Real time insights and validation
1.3.Forecast model
1.4.Assumptions and forecast parameters
1.4.1.Assumptions
1.4.2.Forecast parameters
1.5.Data sources
1.5.1.Primary
1.5.2.Secondary
2.Executive Summary
2.1.360° summary
2.2.Channel type trends
2.3.Technology trends
2.4.Application trends
2.5.End-user trends
3.Market overview
3.1.Market segmentation & definitions
3.2.Key takeaways
3.2.1.Top investment pockets
3.2.2.Top winning strategies
3.3.Porter’s five forces analysis
3.3.1.Bargaining power of consumers
3.3.2.Bargaining power of suppliers
3.3.3.Threat of new entrants
3.3.4.Threat of substitutes
3.3.5.Competitive rivalry in the market
3.4.Market dynamics
3.4.1.Drivers
3.4.2.Restraints
3.4.3.Opportunities
3.5.Source landscape
3.6.Regulatory landscape
3.7.Patent landscape
3.8.Market value chain analysis
3.9.Strategic overview
4.Satellite Modem Market, by Channel Type
4.1.SCPC Modem
4.1.1.Market size and forecast, by region, 2021-2028
4.1.2.Comparative market share analysis, 2021 & 2028
4.2.MCPC Modem
4.2.1.Market size and forecast, by region, 2021-2028
4.2.2.Comparative market share analysis, 2021 & 2028
5.Satellite Modem Market, by Technology
5.1.VSAT
5.1.1.Market size and forecast, by region, 2021-2028
5.1.2.Comparative market share analysis, 2021 & 2028
5.2.Satcom-on-the-Move
5.2.1.Market size and forecast, by region, 2021-2028
5.2.2.Comparative market share analysis, 2021 & 2028
5.3.Satcom-on-the-Pause
5.3.1.Market size and forecast, by region, 2021-2028
5.3.2.Comparative market share analysis, 2021 & 2028
5.4.Others
5.4.1.Market size and forecast, by region, 2021-2028
5.4.2.Comparative market share analysis, 2021 & 2028
6.Satellite Modem Market, by Application
6.1.Mobile & Backhaul
6.1.1.Market size and forecast, by region, 2021-2028
6.1.2.Comparative market share analysis, 2021 & 2028
6.2.IP Trunking
6.2.1.Market size and forecast, by region, 2021-2028
6.2.2.Comparative market share analysis, 2021 & 2028
6.3.Enterprise & Broadband
6.3.1.Market size and forecast, by region, 2021-2028
6.3.2.Comparative market share analysis, 2021 & 2028
6.4.Media & Broadcast
6.4.1.Market size and forecast, by region, 2021-2028
6.4.2.Comparative market share analysis, 2021 & 2028
6.5.Others
6.5.1.Market size and forecast, by region, 2021-2028
6.5.2.Comparative market share analysis, 2021 & 2028
7.Satellite Modem Market, by End-users
7.1.Telecommunications
7.1.1.Market size and forecast, by region, 2021-2028
7.1.2.Comparative market share analysis, 2021 & 2028
7.2.Marine
7.2.1.Market size and forecast, by region, 2021-2028
7.2.2.Comparative market share analysis, 2021 & 2028
7.3.Military & Defence
7.3.1.Market size and forecast, by region, 2021-2028
7.3.2.Comparative market share analysis, 2021 & 2028
7.4.Transportation & Logistics
7.4.1.Market size and forecast, by region, 2021-2028
7.4.2.Comparative market share analysis, 2021 & 2028
7.5.Oil & Gas
7.5.1.Market size and forecast, by region, 2021-2028
7.5.2.Comparative market share analysis, 2021 & 2028
7.6.Others
7.6.1.Market size and forecast, by region, 2021-2028
7.6.2.Comparative market share analysis, 2021 & 2028
8.Satellite Modem Market, by Region
8.1.North America
8.1.1.Market size and forecast, by Channel Type, 2021-2028
8.1.2.Market size and forecast, by Technology, 2021-2028
8.1.3.Market size and forecast, by Application, 2021-2028
8.1.4.Market size and forecast, by End-user, 2021-2028
8.1.5.Market size and forecast, by country, 2021-2028
8.1.6.Comparative market share analysis, 2021 & 2028
8.1.7.U.S.
8.1.7.1.Market size and forecast, by Channel Type, 2021-2028
8.1.7.2.Market size and forecast, by Technology, 2021-2028
8.1.7.3.Market size and forecast, by Application, 2021-2028
8.1.7.4.Market size and forecast, by End-user, 2021-2028
8.1.7.5.Comparative market share analysis, 2021 & 2028
8.1.8.Canada
8.1.8.1.Market size and forecast, by Channel Type, 2021-2028
8.1.8.2.Market size and forecast, by Technology, 2021-2028
8.1.8.3.Market size and forecast, by Application, 2021-2028
8.1.8.4.Market size and forecast, by End-user, 2021-2028
8.1.8.5.Comparative market share analysis, 2021 & 2028
8.1.9.Mexico
8.1.9.1.Market size and forecast, by Channel Type, 2021-2028
8.1.9.2.Market size and forecast, by Technology, 2021-2028
8.1.9.3.Market size and forecast, by Application, 2021-2028
8.1.9.4.Market size and forecast, by End-user, 2021-2028
8.1.9.5.Comparative market share analysis, 2021 & 2028
8.2.Europe
8.2.1.Market size and forecast, by Channel Type, 2021-2028
8.2.2.Market size and forecast, by Technology, 2021-2028
8.2.3.Market size and forecast, by Application, 2021-2028
8.2.4.Market size and forecast, by End-user, 2021-2028
8.2.5.Market size and forecast, by country, 2021-2028
8.2.6.Comparative market share analysis, 2021 & 2028
8.2.7.UK
8.2.7.1.Market size and forecast, by Channel Type, 2021-2028
8.2.7.2.Market size and forecast, by Technology, 2021-2028
8.2.7.3.Market size and forecast, by Application, 2021-2028
8.2.7.4.Market size and forecast, by End-user, 2021-2028
8.2.7.5.Comparative market share analysis, 2021 & 2028
8.2.8.Germany
8.2.8.1.Market size and forecast, by Channel Type, 2021-2028
8.2.8.2.Market size and forecast, by Technology, 2021-2028
8.2.8.3.Market size and forecast, by Application, 2021-2028
8.2.8.4.Market size and forecast, by End-user, 2021-2028
8.2.8.5.Comparative market share analysis, 2021 & 2028
8.2.9.France
8.2.9.1.Market size and forecast, by Channel Type, 2021-2028
8.2.9.2.Market size and forecast, by Technology, 2021-2028
8.2.9.3.Market size and forecast, by Application, 2021-2028
8.2.9.4.Market size and forecast, by End-user, 2021-2028
8.2.9.5.Comparative market share analysis, 2021 & 2028
8.2.10.Spain
8.2.10.1.Market size and forecast, by Channel Type, 2021-2028
8.2.10.2.Market size and forecast, by Technology, 2021-2028
8.2.10.3.Market size and forecast, by Application, 2021-2028
8.2.10.4.Market size and forecast, by End-user, 2021-2028
8.2.10.5.Comparative market share analysis, 2021 & 2028
8.2.11.Italy
8.2.11.1.Market size and forecast, by Channel Type, 2021-2028
8.2.11.2.Market size and forecast, by Technology, 2021-2028
8.2.11.3.Market size and forecast, by Application, 2021-2028
8.2.11.4.Market size and forecast, by End-user, 2021-2028
8.2.11.5.Comparative market share analysis, 2021 & 2028
8.2.12.Rest of Europe
8.2.12.1.Market size and forecast, by Channel Type, 2021-2028
8.2.12.2.Market size and forecast, by Technology, 2021-2028
8.2.12.3.Market size and forecast, by Application, 2021-2028
8.2.12.4.Market size and forecast, by End-user, 2021-2028
8.2.12.5.Comparative market share analysis, 2021 & 2028
8.3.Asia Pacific
8.3.1.Market size and forecast, by Channel Type, 2021-2028
8.3.2.Market size and forecast, by Technology, 2021-2028
8.3.3.Market size and forecast, by Application, 2021-2028
8.3.4.Market size and forecast, by End-user, 2021-2028
8.3.5.Market size and forecast, by country, 2021-2028
8.3.6.Comparative market share analysis, 2021 & 2028
8.3.7.India
8.3.7.1.Market size and forecast, by Channel Type, 2021-2028
8.3.7.2.Market size and forecast, by Technology, 2021-2028
8.3.7.3.Market size and forecast, by Application, 2021-2028
8.3.7.4.Market size and forecast, by End-user, 2021-2028
8.3.7.5.Comparative market share analysis, 2021 & 2028
8.3.8.China
8.3.8.1.Market size and forecast, by Channel Type, 2021-2028
8.3.8.2.Market size and forecast, by Technology, 2021-2028
8.3.8.3.Market size and forecast, by Application, 2021-2028
8.3.8.4.Market size and forecast, by End-user, 2021-2028
8.3.8.5.Comparative market share analysis, 2021 & 2028
8.3.9.Japan
8.3.9.1.Market size and forecast, by Channel Type, 2021-2028
8.3.9.2.Market size and forecast, by Technology, 2021-2028
8.3.9.3.Market size and forecast, by Application, 2021-2028
8.3.9.4.Market size and forecast, by End-user, 2021-2028
8.3.9.5.Comparative market share analysis, 2021 & 2028
8.3.10.South Korea
8.3.10.1.Market size and forecast, by Channel Type, 2021-2028
8.3.10.2.Market size and forecast, by Technology, 2021-2028
8.3.10.3.Market size and forecast, by Application, 2021-2028
8.3.10.4.Market size and forecast, by End-user, 2021-2028
8.3.10.5.Comparative market share analysis, 2021 & 2028
8.3.11.Australia
8.3.11.1.Market size and forecast, by Channel Type, 2021-2028
8.3.11.2.Market size and forecast, by Technology, 2021-2028
8.3.11.3.Market size and forecast, by Application, 2021-2028
8.3.11.4.Market size and forecast, by End-user, 2021-2028
8.3.11.5.Comparative market share analysis, 2021 & 2028
8.3.12.Rest of Asia-Pacific
8.3.12.1.Market size and forecast, by Channel Type, 2021-2028
8.3.12.2.Market size and forecast, by Technology, 2021-2028
8.3.12.3.Market size and forecast, by Application, 2021-2028
8.3.12.4.Market size and forecast, by End-user, 2021-2028
8.3.12.5.Comparative market share analysis, 2021 & 2028
8.4.LAMEA
8.4.1.Market size and forecast, by Channel Type, 2021-2028
8.4.2.Market size and forecast, by Technology, 2021-2028
8.4.3.Market size and forecast, by Application, 2021-2028
8.4.4.Market size and forecast, by End-user, 2021-2028
8.4.5.Market size and forecast, by country, 2021-2028
8.4.6.Comparative market share analysis, 2021 & 2028
8.4.7.Brazil
8.4.7.1.Market size and forecast, by Channel Type, 2021-2028
8.4.7.2.Market size and forecast, by Technology, 2021-2028
8.4.7.3.Market size and forecast, by Application, 2021-2028
8.4.7.4.Market size and forecast, by End-user, 2021-2028
8.4.7.5.Comparative market share analysis, 2021 & 2028
8.4.8.Saudi Arabia
8.4.8.1.Market size and forecast, by Channel Type, 2021-2028
8.4.8.2.Market size and forecast, by Technology, 2021-2028
8.4.8.3.Market size and forecast, by Application, 2021-2028
8.4.8.4.Market size and forecast, by End-user, 2021-2028
8.4.8.5.Comparative market share analysis, 2021 & 2028
8.4.9.South Africa
8.4.9.1.Market size and forecast, by Channel Type, 2021-2028
8.4.9.2.Market size and forecast, by Technology, 2021-2028
8.4.9.3.Market size and forecast, by Application, 2021-2028
8.4.9.4.Market size and forecast, by End-user, 2021-2028
8.4.9.5.Comparative market share analysis, 2021 & 2028
8.4.10.Rest of LAMEA
8.4.10.1.Market size and forecast, by Channel Type, 2021-2028
8.4.10.2.Market size and forecast, by Technology, 2021-2028
8.4.10.3.Market size and forecast, by Application, 2021-2028
8.4.10.4.Market size and forecast, by End-user, 2021-2028
8.4.10.5.Comparative market share analysis, 2021 & 2028
9.Company profiles
9.1.Datum System
9.1.1.Business overview
9.1.2.Financial performance
9.1.3.Product portfolio
9.1.4.Recent strategic moves & developments
9.1.5.SWOT analysis
9.2.ORBCOMM Inc.
9.2.1.Business overview
9.2.2.Financial performance
9.2.3.Product portfolio
9.2.4.Recent strategic moves & developments
9.2.5.SWOT analysis
9.3.Gilat Satellite Networks Ltd.
9.3.1.Business overview
9.3.2.Financial performance
9.3.3.Product portfolio
9.3.4.Recent strategic moves & developments
9.3.5.SWOT analysis
9.4.ST Engineering
9.4.1.Business overview
9.4.2.Financial performance
9.4.3.Product portfolio
9.4.4.Recent strategic moves & developments
9.4.5.SWOT analysis
9.5.Viasat, Inc.
9.5.1.Business overview
9.5.2.Financial performance
9.5.3.Product portfolio
9.5.4.Recent strategic moves & developments
9.5.5.SWOT analysis
9.6.Teledyne Technologies
9.6.1.Business overview
9.6.2.Financial performance
9.6.3.Product portfolio
9.6.4.Recent strategic moves & developments
9.6.5.SWOT analysis
9.7.Comtech Telecommunications Corp.
9.7.1.Business overview
9.7.2.Financial performance
9.7.3.Product portfolio
9.7.4.Recent strategic moves & developments
9.7.5.SWOT analysis
9.8.Work Microwave GmbH
9.8.1.Business overview
9.8.2.Financial performance
9.8.3.Product portfolio
9.8.4.Recent strategic moves & developments
9.8.5.SWOT analysis
9.9.Hughes Network Systems
9.9.1.Business overview
9.9.2.Financial performance
9.9.3.Product portfolio
9.9.4.Recent strategic moves & developments
9.9.5.SWOT analysis
9.10.Novelsat
9.10.1.Business overview
9.10.2.Financial performance
9.10.3.Product portfolio
9.10.4.Recent strategic moves & developments
9.10.5.SWOT analysis
As the name suggests, a satellite modem, also knows as a modulator or a demodulator, is used to receive and transmit signals to and from a satellite. For transmitting signals to the satellite, a modem modulates digital information into an RF carrier via an upconverter, while for receiving signals, the modem then demodulates or converts the frequencies from the downconverter to digital information. Although the main operations of a modem are modulation and demodulation, according to satellite communications standards, error correction codes and framing formats are equally essential function.
Forecast Analysis
Increasing demand for satellite communications in several IoT applications and business expansion by prominent market players are some factors predicted to drive the growth rate of the global satellite modem market by 2028. In addition, wide utilization of satellite modems in the military and defense industry is estimated to further boost the market growth during the forecast period. Moreover, the rising demand for connected home and healthcare devices is projected to offer abundant growth opportunities for the global satellite modem market during the 2021-2028 timeframe. However, uncertain regulations governing satellite communication standards and framework is the major factor anticipated to hinder the market growth.
Regionally, the satellite modem market in the Asia-Pacific region is anticipated to have the highest growth rate of 15.3% CAGR and garner a revenue of $264.6 million during the forecast period. This immense growth is mainly attributed to the rising investments and numerous satellites launches in the developing countries like China, Japan, India, etc. Moreover, growing demand for high-speed data connectivity along with uninterrupted data services among people is also predicted to accelerate the market growth in this region.
According to the report published by Research Dive, the global satellite modem market is expected to register a revenue of $1,004.4 million and grow at 14.4% CAGR in the 2021–2028 timeframe. Some prominent market players include Novelsat, Comtech Telecommunications Corp., ST Engineering, ORBCOMM Inc., Datum System, Work Microwave GmbH, Viasat, Inc., Hughes Network Systems, Teledyne Technologies, Gilat Satellite Networks Ltd., and many others.
Covid-19 Impact on the Market
The unprecedented situation caused by the outbreak of the Covid-19 pandemic has hurled almost every business and industry. This also includes the global satellite modem market owing to strict lockdowns imposed by governments all over the world. This caused severe disruptions in the manufacturing and supply chains of several units. Additionally, since people across the entire globe have lost their jobs amid the pandemic stress, the overall spending capacity has also decreased exponentially. However, as per market analysts, the satellite modem market is estimated to revive its growth since governments are loosening the stringent lockdown and travel restrictions in several countries.
Significant Market Developments
The significant companies operating in the industry are adopting numerous growth strategies & business tactics, such as partnerships, collaborations, mergers & acquisitions, and launches to maintain a robust position in the overall satellite modem market, thus helping the market to flourish. For instance:
In February 2022, PathFinder Digital, a leading satellite ground terminal solutions provider, announced the launch of next generation of its ‘BAT’ line of ground mobile satellite network terminals that is specially built and designed for military and defense applications. The BAT-850 VSAT is a carbon fiber, quick-deploy terminal configured for either Drive-away or Flyaway applications.
In August 2021, SpaceX, an American aerospace manufacturer and provider of space transportation services, announced its decision to acquire Swarm Technologies, a satellite connectivity startup, to get control of the latter’s ground and space licenses. Moreover, the acquisition was also aimed to mark a sharp departure from SpaceX’s strategy of developing its tech internally.
In February 2022, Aston University announced its collaboration with Pulse Power and Measurement (PPM), a leading distributor of power electronics components, to create an innovative satellite communication technology. Additionally, the company would be accessing the University’s expertise in coherent optical communications network domain techniques to build the game-changing technology.
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