Global Satellite Phone Market 2019-2023: Stringent Regulatory Standards for Satellite Phone Development Hampers Market growth

Dublin, Nov. 20, 2018 (GLOBE NEWSWIRE) -- The "Global Satellite Phone Market 2019-2023" report has been added to ResearchAndMarkets.com's offering.

The satellite phone market will register a CAGR of over 4% by 2023.

Presently, satellites in geostationary orbit which are positioned more than 22,000 miles above the earth's surface are used to provide satellite-based Internet services. However, the high latency due to the large distance makes satellite-based Internet inefficient for several applications such as video conferencing, live streaming, and gaming. Moreover, the high manufacturing and launching costs of the traditional large-size satellites makes satellite-based Internet services costly.

The latency of satellite-based Internet services can be reduced to nearly 20-30 milliseconds by using the constellations of nano and microsatellites which are placed in LEO at around 680 miles from the surface of the earth. The latency provided by this infrastructure is comparable to that provided by broadband Internet solutions. This satellite-based Internet service is also less costly. Thus, the progression towards low-cost, satellite-based internet services is expected to drive the market growth during the forecast period.

Market Overview

Advantages of satellite phones over landline and cellular phones

Satellite phones are mainly used in emergency situations when existing communication networks become inaccessible or non-functional. These phones can be used to communicate with other landline, cellular and satellite phones and co-ordinate rescue efforts during extreme weather conditions and natural and manmade disasters. The newer models of satellite phones are also smaller, lighter and provide better functionalities than ordinary cell phones. These advantages of satellite phones over landline and cellular phones are driving the growth of the market during the forecast period.

Stringent regulatory standards for satellite phone development

Satellite phone companies need to follow several regulatory standards such as European Standard EN 62262/ International Electrochemical Commission 62262 (IEC 62262), and the US Department of Defense MIL-STD-810F while manufacturing. This requirement to follow several strict regulatory standards during satellite phone development hampers the growth of the market.

For the detailed list of factors that will drive and challenge the growth of the satellite phone market during the 2019-2023, view the full report.

Competitive Landscape

The market appears to be concentrated and with the presence of few established companies including Globalstar, and Inmarsat the competitive environment is less intense. Factors such as the rugged nature of satellite phones and its several advantages, will provide considerable growth opportunities to satellite phone manufactures. Globalstar, Inmarsat, Iridium Communications, and Thuraya Telecommunications are some of the major companies covered in this report.

Summary:

The latency and the cost of satellite-based Internet services can be reduced by using nano and microsatellites present in LEO. This progression towards low-cost satellite-based Internet services will be a key trend driving market growth.

According to the report, one of the major drivers for this market is the advantages of satellite phones over landline and cellular phones. These phones are rugged in nature and can withstand rough weather conditions. These phones also provide better geographic coverage than landline and cellular phones.

Further, the report states that one of the major factors hindering the growth of this market is the need to adhere to stringent regulatory standards while developing satellite phones. Satellite phone vendors need to follow several standards such as EN 62262/IEC 62262-2002 and MIL-STD-810F, which is hurting the growth of the market during the forecast period.

Key Topics Covered:

PART 01: EXECUTIVE SUMMARY

PART 02: SCOPE OF THE REPORT

PART 03: MARKET LANDSCAPE

• Market ecosystem
• Market characteristics
• Market segmentation analysis

PART 04: MARKET SIZING

• Market definition
• Market sizing 2018
• Market size and forecast 2018-2023

PART 05: FIVE FORCES ANALYSIS

• Bargaining power of buyers
• Bargaining power of suppliers
• Threat of new entrants
• Threat of substitutes
• Threat of rivalry
• Market condition

PART 06: CUSTOMER LANDSCAPE

PART 07: GEOGRAPHIC LANDSCAPE

• Geographic segmentation
• Geographic comparison
• Americas - Market size and forecast 2018-2023
• EMEA - Market size and forecast 2018-2023
• APAC - Market size and forecast 2018-2023
• Key leading countries
• Market opportunity

PART 08: MARKET SEGMENTATION BY SATELLITE TYPE

• Market segmentation by satellite type
• Comparison by satellite type
• GEO - Market size and forecast 2018-2023
• LEO - Market size and forecast 2018-2023
• Market opportunity by satellite type

PART 09: DECISION FRAMEWORK

PART 10: DRIVERS AND CHALLENGES

• Market drivers
• Market challenges

PART 11: MARKET TRENDS

• Progression toward low-cost, satellite-based Internet services
• Use of 3D printing technology in satellite manufacturing
• Miniaturization of electronic parts

PART 12: VENDOR LANDSCAPE

• Overview
• Landscape disruption

PART 13: VENDOR ANALYSIS

• Vendors covered
• Vendor classification
• Market positioning of vendors
• Globalstar
• Inmarsat
• Iridium Communications
• Thuraya Telecommunications

PART 14: APPENDIX

For more information about this report visit https://www.researchandmarkets.com/research/gh36kf/global_satellite?w=12

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                    Related Topics: Satellite Communications