According to the latest report by IMARC Group, titled “Satellite Transponder Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the global satellite transponder market size reached US$ 18 Billion in 2018. A satellite transponder is a wireless device that is utilized to receive and transmit radio signals at a prescribed frequency range. The device comprises a series of interconnected units that are used for communication between receiving and transmitting antennas. It receives a signal which it then broadcasts at a different frequency, which forms an essential component of various navigation and identification of various systems. Since the application of a transponder in a communications satellite ensures accurate and reliable transmission services, despite geographical limitations, it is gaining widespread preference across military, government and commercial organizations.
Global Satellite Transponder Market Trends:
The global market is primarily driven by the growing adoption rates of direct to home (DTH) television sets. In addition to this, the escalating demand for High Definition Television (HDTV) sets, along with improving living standards, rapid urbanization and inflating per capita income levels, is expected to provide a thrust to the market growth. Moreover, the rising demand for intercontinental transmission in both the developed and developing economies and the emergence of new television platforms are also contributing to the market growth. Apart from this, favorable initiatives taken by several regulatory authorities across the globe are creating growth opportunities for the players. For instance, the Telecom Regulatory Authority of India (TRAI) has implemented the new tariff order (NTO), a regulatory framework for the television broadcast industry, which has aided in streamlining the industry and contributed to the market growth of satellite transponder. Furthermore, the increasing demand for transponders from the maritime and airborne services are projected to facilitate the market growth. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 23 Billion by 2024, registering a CAGR of 4.3% during 2019-2024.
Market Summary:
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