DUBLIN, Dec. 8, 2023 /PRNewswire/ — The “Satellite Machine-to-Machine (M2M) Communications – Global Strategic Business Report” report has been added to ResearchAndMarkets.com’s offering.
Global Satellite Machine-to-Machine (M2M) Communications Market to Reach $6.9 Billion by 2030
The global market for Satellite Machine-to-Machine (M2M) Communications estimated at US$2.4 Billion in the year 2022, is projected to reach a revised size of US$6.9 Billion by 2030, growing at a CAGR of 13.7% over the analysis period 2022-2030. Satellite Telemetry, one of the segments analyzed in the report, is projected to record 13.3% CAGR and reach US$2.6 Billion by the end of the analysis period. Growth in the Automatic Identification System (AIS) segment is estimated at 12.7% CAGR for the next 8-year period.
The report provides an overview of the satellite industry, factors affecting it, and short-term market opportunities. It delves into the role of the International Telecommunication Union (ITU) in the satellite industry and the regulatory environment.
The report introduces Machine-to-Machine (M2M) communication, its key components, and applications. It focuses on Satellite M2M communication and its end-uses, including satellite telephones. The report emphasizes the potential of satellite M2M services for recurrent revenue and their role in bolstering IoT connectivity.
It highlights the proliferation of satellite-enabled devices and their potential in IoT. The report states that the US and Europe are the prime revenue contributors to the satellite M2M communication market, while developing regions are hotspots for future growth. The competitive scenario is dominated by American companies.
The report concludes by mentioning that remote monitoring and the need for new data sources in the post-COVID-19 phase will augment satellite M2M services, and it provides insights into recent market activity, including the global key competitors’ percentage market share in 2022 and their competitive market presence worldwide in 2022.
The U.S. Market is Estimated at $921.1 Million, While China is Forecast to Grow at 16.6% CAGR
The Satellite Machine-to-Machine (M2M) Communications market in the U.S. is estimated at US$921.1 Million in the year 2022. China, the world’s second largest economy, is forecast to reach a projected market size of US$995.9 Million by the year 2030 trailing a CAGR of 16.6% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 11.2% and 12.4% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 13.5% CAGR.
What`s New?
- Special discussions on the global economic climate and market sentiment
- Coverage on global competitiveness and key competitor percentage market shares
- Market presence analysis across multiple geographies – Strong/Active/Niche/Trivial
- Online interactive peer-to-peer collaborative bespoke updates
- Access to digital archives and trademarked research platform
- Complimentary updates for one year
- Access to curated YouTube video transcripts of market sentiments shared by CEOs, domain experts and market influencers via interviews, podcasts, press statements and event keynotes
MARKET TRENDS & DRIVERS
- Robust Opportunities in the Automotive Sector
- World Automobile Production in Million Units: 2008-2022
- Security & Surveillance Systems: Prominent End-Use Domain
- Growing Role of IoT Elevates Importance of Satellite M2M
- Global Number of IoT Connected Devices (In Billion Units) for the Years 2016, 2018, 2020, 2022 & 2025
- Global IoT Market (In US$ Billion) by Industry for the Years 2018 and 2022
- Satellite IoT: Driving the New Space Era
- M2M Technology Poised to Transform UAE Businesses
- Widespread Use in Aerospace & Defense Applications
- Defense Spending Patterns Influence Market Uptake
- Global Military Spending (in US$ Billion) for the Years 2014 through 2020
- Satellite SCADA Applications Gaining Traction
- Growing Relevance of SCADA-HMI
- RTUs: The Fundamental Building Block for SCADA Systems
- Satellite M2M Gains Critical Importance in Transportation & Logistics Applications
- Widening Use Case in Commercial Land Transportation
- Spiraling Competition in the Trucking Industry Drives Focus on Telematics
- World Commercial Vehicle Telematics Market by Region/Country (2021 & 2023): Percentage Breakdown of Revenues for US, Canada, Japan, Europe, Asia-Pacific, Latin America, and Rest of World
- Commercial Vehicle Tracking & Monitoring Systems for Emergency Crash Response
- Government Intervention Bodes Well for the Market
- World Spending on Logistics (in US$ Trillion) for the Years 2019, 2021 & 2023
- Breakdown of Annual Production of Commercial Vehicles (Trucks, Trailers & Buses) in Million Units for Years 2019, 2021 & 2023
- Satellite M2M Services Gain Increased Acceptance in the Maritime Industry
- Satellite M2M for Shipping Fleet Optimization
- Satellite M2M Seeks to Widen its Role in Oil & Gas Sector
- Global Daily Crude Oil Demand in Million Barrels for the Years 2015 through 2020
- Global Oil & Gas E&P Industry Spending (in US$ Billion) for the Years 2015 through 2021
- Declining Cost & Complexity of Implementation to Drive Uptake of Satellite M2M Services
- Cost Benefits of Satellite M2M in End-Use Sectors
- Government Intervention Bodes Well for the Market
- New Technology Innovations & Product/Service Developments to Drive Growth
- Dual Mode Solutions to Help Sustain Demand Prospects for Satellite M2M
- Cloud Platforms to Expand Reach of Satellite M2M
- Development of Multi-Network M2M Platforms Spearhead Market Growth
- Standardization: Key for Wider Adoption of Satellite M2M
- Market Challenges
- Intense Competition from Cellular M2M Networks
- Security Concerns Limit Growth Opportunities
- High Equipment and Bandwidth Cost Restrain Growth
- Low Awareness about Satellite Capabilities Hampers Adoption
- Lack of Interoperable Equipment
FOCUS ON SELECT PLAYERS (Total 45 Featured)
- Honeywell International, Inc.
- General Electric Company
- Singapore Telecommunications Ltd. (SingTel)
- Sierra Wireless, Inc.
- Israel Aerospace Industries Ltd.
- Telenor ASA
- ORBCOMM
- Telit IoT Platforms, LLC
- Leonardo SpA
- SkyBitz, Inc.
- Applied Satellite Technology Systems Ltd.
- Quake Global, Inc.
- Telenor Satellite
- Prodigium Group Ltd.
- mu Space and Advanced Technology Co., Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/v813x9
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