Mobile Satellite Services Market To Reach US$ 6.8 Billion By 2028 | IMARC Group

PRESS RELEASE

Published April 11, 2023

What is the Size of Mobile Satellite Services Market ? :

IMARC Group’s latest report, titled “Mobile Satellite Services Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a comprehensive analysis of the industry, which comprises insights on the mobile satellite services market Share. The report also includes competitor and regional analysis, and contemporary advancements in the market. the global mobile satellite services market size reached US$ 4.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 6.8 Billion by 2028, exhibiting a growth rate (CAGR) of 5.8% during 2023-2028.

Mobile Satellite Services Market Uses:

Mobile satellite services (MSS) represent radio communication solutions that provide voice, data, and internet services to mobile and fixed terminals, ships, aircraft, buildings, land vehicles, etc. They have a wide-area earth coverage and their operations are independent of local telecommunications infrastructures. These services use satellite technology to establish communication between portable terminals or mobile devices. In line with this, MSS can provide communication beyond the terrestrial-based wireless system. Consequently, mobile satellite services find extensive applications in several industries, such as aerospace, maritime, automotive, healthcare, etc.

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Competitive Landscape with Key Players:

EchoStar Corporation
Globalstar Inc
Inmarsat
Intelsat S.A
Iridium Communications Inc
Orbcomm, Singtel
Telefonaktiebolaget LM Ericsson
Telstra Corporation Limited
Thuraya Telecommunications Company
Viasat Inc

Mobile Satellite Services Market Digitalization and Development:

The growing penetration of high-speed internet and improving wireless access have led to the introduction of new capabilities, such as enhanced data and multimedia access, which is primarily driving the mobile satellite services market. Additionally, the widespread adoption of MSS by military and defense personnel who travel or operate on land, sea, and air to get network accessibility in areas far from terrestrial or cellular coverage is further catalyzing the market growth.

Besides this, the rising utilization of mobile satellite services by forestry, mining, and oil and gas companies for voice communication, remote connectivity, tracking and automated monitoring of equipment and hardware, etc., is acting as another significant growth-inducing factor. Moreover, the development of 5G mobile networks is positively influencing the global market. Apart from this, numerous technological advancements and the increasing digitalization are also propelling the market growth. Furthermore, the escalating demand for low-earth orbit (LEO) satellites is expected to fuel the mobile satellite services market over the forecasted period.

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Key Market Segmentation:

Breakup by Service Type:

Voice Service
Data Service
Video Service

Breakup by Application Type:

Land
Air
Maritime

Breakup by Industry Vertical:

BFSI
Aerospace and Defense
Healthcare
Public Sector
IT and Telecom
Retail
Others

Breakup by Region:

North America (United States, Canada)
Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
Europe (Germany, France, United Kingdom, Italy, Spain, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key Highlights of the Report:

Market Performance (2017-2022)
Market Outlook (2023-2028)
Porter’s Five Forces Analysis
Market Drivers and Success Factors
SWOT Analysis
Value Chain
Comprehensive Mapping of the Competitive Landscape

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