Euroconsult Predicts Growth in Maritime Satellite Communications Market
[Via Satellite 02-25-2014] Euroconsult has predicted that satellite capacity revenue in the global maritime market will almost double over the next 10 years, with a compound annual growth rate of 7 percent. According to the firm’s report “Maritime Telecom Solutions by Satellite,” increasing data consumption and the adoption of next generation broadband satellite services will drive the expected growth.
“We have observed growth in both ARPU and installations,” said Wei Li, senior consultant at Euroconsult and editor-in-chief of the research report. “Over the next year, a number of High Throughput Satellite (HTS) systems will become available in the maritime market, aimed at delivering three times more capacity by the end of 2014 and six times more capacity by the end of 2016. This additional capacity will drastically change the relationship between supply and demand in the market, and enable a range of new applications for the maritime community.”
In 2013, the number of terminals used for global maritime satellite communications grew by 4 percent, reaching approximately 348,000, and generated more than $760 million in revenues for satellite operators, an increase of more than 10 percent.