New NSR Report Finds Broadband Maritime Markets Driving 8% Revenue Growth
Cambridge, Mass., June 8, 2016–NSR’s Maritime Satcom Markets, 4th Edition, finds that maritime markets continue to demand more from their connectivity – with a steady move towards a ‘connected vessel’ across all major segments. Although some contraction has occurred in key markets, lower satellite capacity pricing is opening the tap for broadband VSAT adoption. With retail revenue growth annually exceeding 8% from 2015 – 2025 and HTS-options nearing 30%, the trend is clear – we are well into a trend of increasingly higher connectivity for maritime customers.
“The demand for data continues to grow, as more capacity is launched by satellite operators to cover maritime markets,” states Brad Grady, Senior Analyst with NSR. “With more supply pushing bandwidth costs lower, end-users are responding by ramping up their demand for VSAT connectivity across all segments – merchant, passenger, offshore (oil & gas), and fishing. As Mbps prices lower, vessel connectivity revenue is on the rise, providing growth opportunities for service providers.”
Dallas Kasaboski, Analyst at NSR and report co-author adds, “New and emerging application ecosystems provide a mixed opportunity for Service Providers, but can they capture revenue from the ‘app as a service’, or from the sole provision of capacity? Still largely unanswered, one aspect is known – the demand for broadband connectivity is only increasing.”
Today, maritime satellite connectivity is quickly moving from a ‘nice to have’ to the ‘must-have’ item in nearly all major maritime verticals – everything from merchant maritime to fishing vessels are demanding more data across all of their operations. With over 240 transponders of FSS capacity and 46 Gbps of HTS demand by 2025, lower capacity pricing is definitely a boost to end-user appetite for connectivity.
There is not a ‘one-size-fits-all’ solution for maritime connectivity, and as satellite operators continue to look for ways to improve margins, service providers consolidate and increase their purchasing power, end-users will continue to benefit from this increasingly competitive marketplace.
About the Report
NSR’s Maritime Satcom Markets, 4th Edition continues as a dedicated focus on the maritime SATCOM Markets - from the opportunities in narrowband connectivity to the latest Non-GEO HTS capacity slated to launch. With new analysis from a vessel perspective on average revenues and provisioning, the report provides readers with the most complete overview on addressable maritime markets, vendor market share, pricing, in-service units, revenues, and capacity demand for all maritime vertical segments.
For additional information on this NSR offering, including a full table of contents, list of exhibits and executive summary, please visit www.nsr.com or call NSR at +1-617-674-7743.
