Satellite Phone Market is Anticipated to Grow at a CAGR of 5.0% During the Forecast Period 2018-2025, Says Esticast Research and Consulting
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As per the report “Satellite Phone Market By Type ( Globalstar, Inmarsat, Iridium, Thuraya ), By Application ( Aerospace & Defense, Maritime, Energy, Government) Industry trends, Estimation & Forecast, 2017 – 2025″
In 2017, the Inmarsat (ISAT) segment generated the highest revenue share in the global satellite phone market. Among major regions, North America was the highest revenue generating market, holding nearly 40% of the market share, in 2017.
“Satellite phones play a vital role in the defence and aerospace sector, as the military personnel face the risk of inhabiting in very remote areas, where there is weak or zero communication service. Satellite phones enable them to see through the fog of war by creating a communication link between the parties, irrespective of their location and the presence of communication infrastructure around them.”
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The government authorities of each nation possess an authority over the functioning and regulation of satellite communication. Government agencies such as railways, police forces, BSF (Border Security Forces), organizations handling disastrous calamities are the major end users of satellite phones. When an area is struck with natural calamity, the most important system that is affected is the areas communication system. Recent examples of natural disasters have depicted the need of communication systems between such areas and the rest of the world. In such scenarios, satellite phones help in exchanging information between both the worlds. In India, BSNL (Bharat Sanchar Nigam Limited) along with Inmarsat offers satellite phone connections, especially to the government agencies.
Inmarsat (ISAT) phones segment earned the highest market share and is expected to grow with an impressive CAGR
Inmarsat IsatPhones are an economical option, as compared to other satellite phones, as they offer connectivity at a cheap price. In addition to the voice and text features, these phones also include a built-in GPS receiver. The segment backed up nearly 25% of the global market share in 2017 and is expected to maintain its dominance during the forecast period as well.
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North America gained the highest revenue in the global market, owing to the presence of several market players
North America held nearly 40% market share, in terms of revenue, of the global market. It is anticipated to maintain its dominance in the long run and exhibit an impressive CAGR of 4.35% during the forecast period. The U.S. is amongst the top exporters of satellite phones as it is the home for some of the major satellite phone companies. In North America, a huge number of hikers, soldiers, shipping industry workers and pilots own satellite phones. The development of defence and aerospace sector has led to an extensive stimulation of the satellite networking systems in the region. The aerospace and defense segment holds nearly 1/4th of the total regional market for satellite phones and is expected to grow with the fastest rate.
NORTH AMERICA SATELLITE PHONE MARKET, BY APPLICATION, 2017
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KEY FINDINGS OF GLOBAL SATELLITE PHONE MARKET, 2017-2025
• Maritime segment is expected to grow with the highest CAGR of 5.27% during the forecast period.
• Global satellite phone market is expected to witness a declining price trend during the forecast period.
• Offline channel is the most prominent sales channel adopted in Asia-Pacific region.
• North America led the global satellite phone market in 2017, in terms of revenue, by holding nearly 40% of the total share.