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According to this report, the Global Maritime Satellite Communication market accounted for $2.19 billion in 2019 and is expected to reach $4.31 billion by 2027 growing at a CAGR of 8.8% during the forecast period. Increasing demand for broadband connections and VSAT connectivity, and high-throughput satellites to unlock cloud and IoT services are the major factors propelling market growth. However, lack of awareness about advanced maritime satellite services is hampering market growth.
Satellite communication technologies help to track the ships and cargo through the globe. VSAT terminals are communication terminals that allow transmitting and receiving text, audio, and video data using satellite broadband Internet services. These terminals operate as geostationary satellites on Ku, Ka, and C bands