Demand for satellite connectivity in maritime market to see booming bandwidth requirements - study

Thursday 8 March 2018 | 19:44 CET | News

Satellite connectivity in the maritime market will face booming bandwidth requirements coming not only from bandwidth-hungry passengers and crew but also from the overall development of smart applications, according to a research by Euroconsult. The total number of terminals used by the maritime satellite communications market experienced limited growth in 2017, with an increase of 0.7 percent year-over-year. However the VSAT market scored 18.8 percent growth in 2017, exceeding 23,000 terminals. Meanwhile the number of MSS terminals decreased by 0.4 percent, reaching 314,300 terminals. VSAT technology is starting to be taken up by the medium and small vessels market and this is gaining traction as operators are increasingly willing to migrate from MSS to VSAT products, researchers said.

Researchers forecast that the maritime satcom market (both MSS and VSAT) will grow to more than 500,000 terminals in 2027 as compared to 337,300 terminals in 2017. Total revenue for satellite operators should grow from USD 953 million in 2017 to USD 1.6 billion by 2027, a 10-year CAGR of 5.2 percent.

The revenue for maritime service providers is estimated to grow from USD 1.8 billion in 2017 to USD 2.9 billion in 2027 with a 10-year CAGR of 5.3 percent.

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