Satellite Ground Station Equipment Market to Register $ 5.59billion growth during 2020-2024|Technavio
The key vendors identified for 2020-2024 in the satellite ground station equipment market are Advantech Wireless Technologies Inc., Comtech Telecommunications Corp., and EchoStar Corp.
The satellite ground station equipment market is expected to grow at a CAGR of almost 7%. The growth can be mainly attirbuted to Increasing investments in HTS communication and the unique business strategies adopted by vendors to capitalize on the fast-growing market segments.
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Organizations across the globe are gradually flattening their recessionary curve by leveraging technology with the continuing spread of the novel coronavirus pandemic. Major businesses will go through response, recovery, and renew phases.
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Key Considerations for Market Forecast:
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- Optimistic, probable, and pessimistic scenarios for all markets as the impact of pandemic unfolds
- Pre- as well as post-COVID-19 market estimates
- Quarterly impact analysis and updates on market estimates
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Satellite Ground Station Equipment Market 2020-2024: Segmentation
Satellite ground station equipment market is segmented as below:
- Type
- NOC Equipment
- VSAT Equipment
- Antennas
- Power Units
- Others
- Geography
- North America
- APAC
- Europe
- South America
- MEA
The satellite ground station equipment market is driven by Increasing investments in HTS communication, Increase in number of satellite launches, and Increasing use of satellites for remote sensing applications. In addition, other factors such as Growing focus on smart retail stores | Integration of advanced technologies in self-service kiosks | Strategic partnerships and acquisitions are expected to trigger the satellite ground station equipment market toward witnessing a CAGR of over almost7% during the forecast period.
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