Satellite Phone Market Size to grow by USD 111.7 million between 2024-2028
The Satellite Phone Market is segmented by Application (Maritime, Aerospace, Government, Energy, and Others), Product (GEO and LEO), and Geography (APAC, North America, Europe, Middle East and Africa, and South America). As per the Global Forecast research report 2024-2028 published by Technavio, the market size is estimated to grow by USD 111.7 million, at a CAGR of 3.36% during the forecast period. There are several companies that are contributing to the market as per this report. Progression toward low-cost, satellite-based Internet services .
By Application, the Maritime segment is projected to dominate the market size in 2024
The maritime segment held a substantial position in the global satellite phone market in 2023, driven by increasing investments in satellite technologies for surveillance, security, and intelligence operations by emerging nations, including China, India, and Russia, throughout the forecast period. Notably, NewSpace India Limited (NSIL), the commercial arm of the Indian Space Research Organization (ISRO), announced on June 18, 2024, plans to launch a satellite mission to enhance broadband services and connections across India. This satellite, boasting a 32-beam High-Throughput Satellite (HTS) capacity, will cover the entire Indian region, including the Andaman and Nicobar Islands and Lakshadweep.
For insights on company offerings- Request a sample report!
By Product, GEO segment is expected to hold the largest market size for the year 2024
In the satellite phone market, Geosynchronous Orbit (GEO) technology utilizes satellites positioned in geosynchronous equatorial orbit, approximately 22,000 miles above the Earth's equator. These satellites synchronize with the Earth's rotation, maintaining a fixed position above the equator. This alignment enables phone antennas to remain directed towards the satellite, eliminating the need for re-orientation. Consequently, GEO satellites offer near-continuous global coverage with a minimal number in orbit. However, they are limited to the latitude range of 82 degrees north and south of the equator. Additionally, users of GEO satellite phones may experience a discernible voice delay during calls and data usage, attributable to the extended signal transmission distances.
Why is APAC forecasted to hold the largest regional market size in 2024?
The Satellite Phone Market represents a significant business opportunity for telecommunications companies, offering innovative solutions to clients requiring uninterrupted connectivity in remote or inaccessible areas. With advancements in technology, satellite phones are becoming increasingly cost-effective and user-friendly, expanding their market reach and potential for growth. This niche market caters to various industries, including oil and gas, maritime, military, and emergency services, ensuring business continuity and safety in challenging environments.
To access the valuable insights - Download the Free Sample Report
Research Analysis Overview
The satellite phone market caters to the communication needs of individuals and organizations in areas with limited or no conventional network coverage. Tourists, disaster management teams, public safety agencies, military personnel, and businesses operating in the open ocean, wilderness areas, or remote regions rely on satellite phones for connectivity. These devices use orbiting satellites in geostationary or low earth orbit to establish a network connection, bypassing the need for terrestrial cellular networks and infrastructure such as cell towers. Satellite phones offer GPS capabilities, enabling location tracking during emergencies, making them essential tools for disaster response during natural disasters like hurricanes and earthquakes. Government agencies and military personnel use these phones for secure and reliable communication, especially during sensitive operations. Mobile satellite phones provide telephone and mobile phone functionality, allowing users to have phone numbers and make calls like traditional mobile phones. With their importance in public safety and business continuity, satellite phones remain an indispensable technology for maintaining communication in various industries and applications.
Market Research Overview
The global communications equipment market encompasses manufacturers of various products, such as enterprise networking equipment, including LANs, WANs, routers, switchboards, and exchanges, as well as communications infrastructure or telecom equipment. According to Technavio, the market size is determined by the revenue generated from the sales of communication equipment, broadcasting equipment, and telecommunication equipment, as well as investments made by service providers to enhance their communication infrastructure. Notably, this market excludes revenue from cellular phone manufacturers, which fall under the Technology Hardware, Storage and Peripherals sub-industry. The market's expansion will be fueled by the rising number of data centers, with hyperscalers investing significantly in the planning and expansion of existing facilities. - The Satellite Phone Market is experiencing significant growth, fueled by the . Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
