M2M satellite communication can be defined as a process where data is transmitted through satellite networks from remote locations and allows user to respond to the information received. M2M based satellite correspondence has energized organizations to grow their market reach all around, without facing any communication delays and problems. M2M satellite communication providers have started deploying services in the cloud; this has increased the usage of M2M satellite communication globally.
The rise in the demand for swift data communication and expanding applications of M2M satellite communication are some of the major factors driving growth of the global M2M satellite communication market. In addition, anywhere access and asset tracking features are some other factors boosting demand for M2M satellite communication in the global market. Increasing demand for solutions that can help in asset monitoring and vehicle tracking expected to create lucrative opportunities for vendors during the forecast period.
Rising security concerns in cloud storage is a key factor hampering growth of the global M2M satellite communication market. Lack of infrastructural facilities and lack of awareness among users are some other factors expected to restrain growth of the global M2M satellite communication market during the forecast period.
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The global M2M satellite communication market is segmented on the basis of technology, network devices, services, industry verticals, and region. On the basis of region, the global M2M satellite communication market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
North America accounts largest revenue in the global M2M satellite communication market, followed Asia Pacific ranks as a fastest growing market with a CAGR XX% over the forecast period. This is attributed to increasing technological advancements in wireless technologies in these regions.
Prominent players in the global M2M satellite communication market include Globalstar, Hughes Network System LLC., Inmarsat plc., Iridium Communications Inc., Kore Wireless Group, Inc., Orange S.A., ORBCOMM, Rogers Communications, Teliasonera AB, and ViaSat.
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