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Global Maritime Satellite Communication Market Seen Growing 10% Annually
Stratistics Market Research says the global maritime satellite communication market will expand at a compound annual growth rate of 10.1% from 2015 to 2022, or $2.25 billion last year to $4.41 annually in six years. The increasing need for enhanced data communication and extensive use are major market movers. But “low awareness” among users and “huge” infrastructure costs are hampering the market, the group says. “Bridging satellite and cellular communication technology is the opportunity for market growth,” researchers say.