The mobile satellite services market is growing at a rapid pace. Mobile satellite services (MSS) are used for two-way voice and data communications. Several companies across the globe, which, alongside the rising numbers of new industry players, drive the growth of the market. The market growth attributes to rising demand for all low earth orbit (LEO) and geostationary-satellite orbit (GSO) MSS systems escalate the market demand.
Get a Free Sample @ https://www.marketresearchfuture.com/sample_request/10232
According to Market Research Future (MRFR), the global mobile satellite services market is estimated to reach USD 6,551.8 MN by 2026, growing at 7.3% CAGR throughout the forecast period (2020-2026). MSS systems provide portable handheld or transportable telecommunications between the MSS terminals and the global infrastructure. Resultantly, the adoption of MS services is growing continually, to offer extensive coverage areas as compared to terrestrial systems.
Additionally, the rising demand for improved voice and data radio communications and Internet access substantiate the growth of the global MSS market. The increased focus on data applications & services and the increasing need for mobility create substantial market demand. The growing requirement for MSS across various industry verticals provides excellent opportunities for market growth.
Conversely, the lack of standardization and the high initial investments required for installing MSS devices are the key factors projected to impede the market growth. Also, technical issues such as unwanted coordination among different databases, reusability, customization, and isolation of various satellites from one another act as a major headwind for the market growth. Nevertheless, the growing government investments to improve mobile services would support market growth throughout the review period.
Global Mobile Satellite Services Market – Competitive Analysis
The Mobile Satellite Services market appears to be competitive due to the presence of several well-established industry players. Mergers & acquisitions, innovation, and brand reinforcement remain key trends for these players to gain a larger competitive share. Matured players compete based on reputation, services, and pricing.
Market players address the increasing demand with a wide range of solutions that are purpose-built for commercial viewing.
Players leading the global mobile satellite services market include The Prominent Players of the Global Mobile Satellite Services Market are GLOBALSTAR (US), ORBCOMM (US), Inmarsat Global Limited (UK), Tesacom (Argentina), Thuraya Telecommunications Company (UAE), Telefonaktiebolaget LM Ericsson (Sweden), Intelsat (US), Iridium Communications Inc. (US), Telstra (Australia), EchoStar Corporation (US), and ViaSat, Inc. (US), among others.
Mobile Satellite Services Market – Regional Analysis
North America dominates the global mobile satellite services market. The largest market share attributes to the presence of global players and the growing IT industry. Besides, well-established development centers in the region drive the market growth, allowing early advent and adoption of advanced technologies. Moreover, substantial R&D investments by major companies foster the mobile satellite service market share of the region.
The rising proliferation of the internet, mobiles, tablets, and other smart connected devices, boost the regional market growth. The US and Canada hold the leading position in the regional market. The North American mobile satellite services market is projected to retain its dominance, growing at 5.9% CAGR throughout the estimated period.
Europe stands second in the global mobile satellite services market. The market growth is driven by the well-established infrastructure and major satellite service providers in the region. Additionally, significant investments made in surveillance and monitoring technologies, alongside well-developed regulations in this region, increase the adoption of mobile satellite services.
Germany, the UK, France, and Italy support the regional market growth, heading with the increasing adoption of on-demand cloud services. The European mobile satellite services market is expected to show immense growth, recording 7.1% CAGR over the forecast period.
The Asia Pacific region holds a prominent position in the global mobile satellite services market. Factors such as the presence of a number of renowned mobile phone manufacturers and the rising numbers of mobile phone users in the region influence the mobile satellite services market share. Moreover, the increasing disposable income of demographics propels the mobile satellite services market trends in the region.
Besides, the rapid industrialization and growing numbers of businesses provide impetus to market growth. Furthermore, government policies and regulations impact the adoption of digital services and satellite services in the region. The APAC mobile satellite services market is anticipated to register 9.2% CAGR throughout the review period.
Industry/ Innovation/ Related News:
October 21, 2020 ---- Hyundai Global Services (HGS – South Korea), a leading all-round marine service provider, announced the signing of a contract to deliver its Smart Ship and Satellite Communications package to KSS Line shipping fleet supported by Inmarsat’s Fleet Xpress and digital solution Fleet Connect.
The Integrated Smart Ship (ISS) solution from Hyundai Heavy Industries (HHI) would be delivered as a single package with a satellite communications service. Intellian and HGS had signed an MOU in July 2019. Similarly, an arrangement between HGS and Inmarsat was signed in June 2019 at the Nor-Shipping exhibition in Oslo.
Mobile Satellite Services Market – Segments
The report is segmented into four dynamics;
By Type : Land MSS, Broadband MSS, Personal MSS, Aeronautical MSS, Maritime MSS, and others.
By Sales Channel: Offline and Online.
By Application : Military & Defense, Aviation, Oil & Gas, Media & Entertainment, Transportation & Automotive, Government, Mining, and others.
By Regions : North America, Europe, APAC, and the Rest-of-the-World.
Browse Complete Report @ https://www.marketresearchfuture.com/reports/mobile-satellite-services-market-10232
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
Market Research Future
+1 646 845 9312
Email: [email protected]