(PRWEB) July 14, 2014
Over the last decade, machines and devices have penetrated almost every sphere of life. Hence, machine-to-machine interaction has become necessary. This concept is very useful for wireless networks’ communication via satellite communication. With the proliferation of machine usage in the near future, the M2M satellite communication market will continue to have high demand. Considering all geographies worldwide, this market is currently valued at $2.98 billion. The total revenue pertaining to this segment is estimated to reach $4.76 billion by the end of 2019. The CAGR has been calculated at 9.81% for this period. Globally, some of the industry leaders of the M2M satellite communication market are IBM, Accenture, and Novatel Wireless.
The North American M2M satellite communication market is currently worth $1.07 billion and is poised to grow to $1.43 billion by the end of 2019. The growth in this market is primarily due to expansion in the coverage of wireless networks and collaborations and acquisitions of small vendors. The challenges faced by service providers are the reducing ARPUs and prices of broadband modules. The significant companies providing these services in this market are IBM, Accenture, Gemalto, Iridium Communications, and Sierra Wireless. This market will grow at a CAGR of 5.92% for the period 2014-2019.
Browse through the market data tables, figures and detailed ToC on the “North America M2M Satellite Communication Market”.
Latin America M2M Satellite Communication Market
The M2M satellite communication market in the Latin American region is worth $379.50 million and is expected to reach $660.70 million by the end of 2019. Higher number of low cost wireless service providers has created more demand and given a boost to this market. The challenge posed by lack of technical education needs to be overcome. This market’s annual growth rate has been forecast at 11.73%. The key market players in this market are IBM, Novatel Wireless, Globalstar, and TeliaSonera.
Europe M2M Satellite Communication Market
Europe has been witnessing a rise in the adoption of remote equipment monitoring. Also, there has been an increase in the deterioration of infrastructure. These factors have led to the growth of this market. The major vendors that provide M2M satellite communication services in this region are Novatel Wireless, IBM, TeliaSonera, Globalstar and Telefónica. Europe’s M2M satellite communication market is pegged at $621.40 million and is projected to be worth $1.02 billion by the end of 2019, with an annual growth rate of 10.49%.
APAC M2M Satellite Communication Market
The APAC region is an emerging market. There is a higher investment in infrastructure and it is seeing the evolution of multiple smart city projects. The only factor that could act as a restraint is the high prices for the implementation of these services. The total revenue of Asia-Pacific’s M2M satellite communication market is $577.00 million. This is estimated to be worth $1.07 billion by the end of 2019. The yearly growth rate is estimated 13.19% for this period. Telenor Group, Gemalto, Accenture, and Novatel Wireless are some of the main companies with a higher market share in this region.
MEA M2M Satellite Communication Market
The current valuation of the MEA region’s M2M satellite communication market is $329.40 million as of 2014. This is projected to reach $572.60 million by the end of 2019, poised to grow annually at 11.69%. The MEA region has huge market potential for new entrants. Also, M2M modules are being shipped to this region in great quantities. These aspects have fueled the growth of this market. Few of the prominent enterprises in this region’s market are Gemalto, Accenture, Sierra Wireless, and Novatel Wireless.
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