Maritime bandwidth capacity demand set to increase twentyfold by 2032
Paris, Washington D.C., Montreal, Yokohama, Sydney, May 4, 2023. With the most serious restrictions of COVID-19 now generally in the rearview mirror, leading market intelligence firm Euroconsult estimates that maritime connectivity sectors have mostly recovered from the pandemic’s influence on supply chains and vessel activity at the end of 2022. According to Euroconsult’s forecasts, maritime satellite communication operators are expected to surpass $1.1 billion in revenues by 2032 at a 7% CAGR over the decade. Though some service providers will see a fall in their average revenue per unit (ARPU), total service revenues are expected to grow at a similar CAGR, falling slightly short of $3 billion by 2032.