M2M satellite communication market to grow over 50% by 2019

March 17, 2014 // By Jean-Pierre Joosting
A recent study by MarketsandMarkets reports that the global M2M satellite communication market is expected to grow from $2,983.4 million in 2014 to $4,763.4 million by 2019, at an estimated compound annual growth rate (CAGR) of 9.8% from 2014 to 2019.

Increasing data communication need, rising M2M applications, and fast return on investments is leading to the creation of more and more avenues for M2M satellite market. With the advent of cloud applications in almost every other vertical, M2M satellite communications can offer enormous opportunities for the development of such solutions and services. Indeed, the application of M2M satellite communication across different verticals has created lots of opportunities for cloud-based solution providers. This report highlights the various services, such as managed services, broadband services, and business services.

It has its presence across verticals such as automobiles and telecommunication, transportation and logistics, oil and gas, energy and utilities, mining, maritime, agriculture, public affairs, and healthcare. Transportation and logistics has the major market share in the vertical and is expected to grow in the forecast period. Out of all the regions, NA is the largest revenue generator for services in the M2M satellite communication market. APAC is expected to show a significant rise in the revenues because of the budding inter and intra-Asian trade that exists between different countries of Asia.

The report also draws the competitive landscape of the M2M satellite communication market, providing an in-depth comparative analysis of the technological and marketing strategies that the key players are adopting in order to gain an edge over their competitors. The key strategies followed by most companies in the global M2M Satellite communication market are reduction in subscriber costs, reduction in network latency, and introduction of new features. Some of the major players in this market are ORBCOMM, Iridium, Inmarsat, Oracle, Orange, and KORE Telematics.