The global maritime VSAT market was valued at USD 2 billion in 2016 and is expected to surpass USD 3 billion by 2021, says Technavio.
Technavio has announced its latest market research report on the global maritime VSAT market, under its machine to machine and connected devices portfolio. This market analysis discusses the major drivers and key emerging trends and offers a competitive analysis of key vendors like Harris CapRock, Hughes Network Systems, Inmarsat, KVH Industries, ViaSat, and VT iDirect.
According to Abhishek Sharma, an industry expert for machine to machine and connected devices research at Technavio, “Growing adoption of satellite communication to monitor oil and gas rigs is likely to drive growth in the global maritime VSAT markt. The transportation of oil and gas through pipelines requires 24/7 surveillance and monitoring owing to the high risk and financial loss related to its leakage. Therefore, supervisory control and data acquisition (SCADA) systems are used for remote surveillance, monitoring, and maintenance of these pipelines.”
Several oil and gas companies are adopting satellite communications for monitoring oil and gas rigs. These systems are easy to install, inexpensive, and effective in maintaining pipelines.
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Increased use of satellite-based EO in maritime surveillance
Earth observation (EO) providers have entered maritime surveillance to leverage their high revenue potential. EO satellites and synthetic aperture radar (SAR) instruments are predominantly used for maritime surveillance. Satellites such as TerraSAR-X and RADARSAT-2 provide images for surveillance system and cover the entire surface of the Earth.
Cloud-based big data services
Satellites produce data that is in the form of images, which are complex to understand at times. So, this creates the necessity for data analytics as it provides meaning and structure to these images. Companies now realize the need to analyze this data and have started focusing on analytics. For instance, Skybox Imaging, which was acquired by Google in 2014, is launching its fleet of LEO satellites to provide a new source for big data analytics. The company provides high-resolution images and videos of any spot on the Earth.
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This research report includes an in-depth analysis and market shares and sizes of the sub-segments and geography. A competitive analysis of the key companies, including their market shares, business overview, key financials, etc. is provided in this study. This market study also provides a detailed analysis of key drivers, challenges, and opportunities influencing this market.
A more detailed analysis is available in the Technavio market research report titled, ‘Global Maritime VSAT Market 2017-2021‘. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Enterprise VSAT Market 2017-2021
- Global Very Small Aperture Terminal Market 2016-2020
- Global Satellite Ground Station Equipment Market 2016-2020
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