LONDON--(BUSINESS WIRE)--The satellite phone market size is poised to grow by USD 135.13 million during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
Satellite phones are usually used for emergency communications to coordinate response and recovery efforts in remote areas. The existing networks are susceptible to damage or become overloaded during natural disasters such as severe weather or earthquakes. They can even be damaged in cases of potential chemical, biological, radiological, nuclear, or explosive events. Satellite phones assist in maintaining the command and control functions during emergencies when the existing communication networks in that specific area are non-functional. These phones are simpler to operate when compared with cellular phones and are comparatively rugged to withstand extreme weather conditions. Thus, the advantages of satellite phones over landline and cellular phones will drive the growth of the market during the forecast period.
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As per Technavio, the progression toward low-cost, satellite-based Internet services will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Satellite Phone Market: Progression toward Low-Cost, Satellite-Based Internet Services
The manufacturing of the traditional large-size satellites and launching them requires a huge amount of investments, which simultaneously increases the cost of satellite-based Internet services. In comparison, the constellations of nano and microsatellites placed in LEO, which is around 680 miles from the Earth's surface, reduce the latency of the Internet service to approximately 20-30 milliseconds, which is comparable to the existing broadband Internet solutions that use fiber-optic cable networks. Nano and microsatellite-based infrastructure is, thus, a good alternative for providing low-cost satellite-based Internet services. Companies such as oneweb.world and SPACE EXPLORATION TECHNOLOGIES are a few of those working in this direction. Thus, the implementation of low-cost satellite-based Internet services may act as a boosting factor for the growth of the market in focus.
“Other factors such as the miniaturization of electronic parts, and the growing use of 3D printing technology in satellite manufacturing will have a positive impact on the growth of the satellite phone market value during the forecast period,” says a senior analyst at Technavio.
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Satellite Phone Market: Segmentation Analysis
This market research report segments the satellite phone market by satellite type (GEO (geosynchronous orbit) satellite and LEO (low-earth orbit) satellite) and region (Americas, APAC, and EMEA).
The Americas led the satellite phone market in 2018, followed by EMEA and APAC respectively. The growth of the satellite phone market share in Americas can be attributed to factors such as the development of several advanced technologies and huge investments in the development of advanced satellite systems.
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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