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TMCNet:  Maritime VSAT Market - Drivers and Forecasts by Technavio

[January 27, 2017]

Maritime VSAT Market - Drivers and Forecasts by Technavio

Technavio analysts forecast the global maritime VSAT market to grow at a CAGR of close to 14% during the forecast period, according to their latest report.

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Technavio has published a new report on the global maritime VSAT market from 2017-2021. (Graphic: Bu ...

Technavio has published a new report on the global maritime VSAT market from 2017-2021. (Graphic: Business Wire)

The research study covers the present scenario and growth prospects of the global maritime VSAT market for 2017-2021. The report provides total addressable maritime VSAT equipped vessels for the forecast period. Also, the report discusses the major drivers that influence the growth of the global maritime VSAT market.

Satellite maritime applications enable secure and interoperable network communications for naval operations and critical marine operations such as rescue, and administrative and support functions. Satellite services can provide global coverage and an effective communication channel to help in relief operations during a natural disaster and emergency situations. It also helps to detect incidents of the oil spill and transmit relevant information related to disasters to enable spontaneous search and rescue operations.

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Technavio's sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.

Technavio ICT analysts highlight the following three factors that are contributing to the growth of the global maritime VSAT market:

Growing adoption of satellite communication to monitor oil and gas rigs

The transpotation of oil and gas through pipelines requires 24/7 surveillance and monitoring due to the high risk and financial loss associated with its leakage. Therefore, supervisory control and data acquisition (SCADA) systems are used for remote surveillance, monitoring, and maintenance of these pipelines.

Abhishek Sharma, a lead M2M and connected devices analyst at Technavio, says, "An on-field monitoring network includes instrumentation units that can measure flow speed, pressure, and temperature; transmitters; data gathering units; and communication units such as VSAT earth stations."

Demand for broadband networks

Technological advances have led to an increase in the coverage area of cellular networks, microwaves, and satellites. The convergence of voice, video, and data simultaneously to all-IP networks has simplified the user's requirement.

"Though maritime communication has improved over the years, it still lags behind the advanced communication technology used on land. The demand for broadband services in the maritime industry is increasing rapidly due to the growing adoption of IP-based applications," adds Abhishek.

Increased adoption of smart vessels in the maritime sector

Maritime traffic has increased significantly with the rise in the number of ships traversing oceans. The maritime traffic has approximately increased four-fold during the last two decades. The major reason for increased maritime traffic is world trade. Industrial nations and emerging economies of energy and mineral resources such as China and India are regularly engaged in goods transport to distant countries via waterways.

ICT has evolved dramatically to reduce the cost of accessibility and mobility. According to IMO regulations, all vessels are mandated to deploy AIS units to monitor the shipping of traffic to avoid collisions and increase safety aspects. The increasing maritime traffic has created a high risk of wrecks and collisions, resulting in economic expenses.

Top vendors:

  • Harris CapRock
  • Hughes Network Systems
  • Inmarsat
  • KVH (News - Alert) Industries
  • ViaSat
  • VT iDirect

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Become a Technavio Insights member and access all three of these reports for a fraction of their original cost. As a Technavio Insights member, you will have immediate access to new reports as they're published in addition to all 6,000+ existing reports covering segments like cloud computing, IT hardware, and IT security. This subscription nets you thousands in savings, while staying connected to Technavio's constant transforming research library, helping you make informed business decisions more efficiently.

About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

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