The market value of the global mobile satellite services market is predicted to reach USD 4.80 billion in the year 2024, which is expected to increase the growth by USD 6.37 billion by the end of 2029 with a compound annual growth rate of 5.8% during the forecast period.
Another major driving factor of the Mobile Satellite Services market was the increasing demand for portability. Growing demand for mobility and increased competition among ISPs, and the introduction of highly accurate GPS systems, GNSS servers, and sensors are some factors propelling the Mobile Satellite Services market revenue.
Another major growth driving factor of the Mobile Satellite Services market was the growing development of the Internet of Things and additional features such as the efficient transmission of voice, data, video, and tracking and monitoring services.
Low available bandwidth, Dynamic policies and regulations, and poor quality of data and voice in bad signal conditions are some of the major restraints that hinder the growth of the Mobile Satellite Services market.
Almost all the industries have been shut down due to the stringent lockdown regulations which were imposed by the government authorities of their respective countries. The manufacturing sector has been affected severely due to the COVID 19 pandemic; unavailability of materials remains the greatest risk factor that has directly impacted all the industries of the market. Unlike the other industries, the mobile satellite services firms have a positive impact on the covid due to the increased demand for these across the world and also increase of investments in the mobile satellite services by the major key players for R&D activities and also for the new and latest technological advancements which help the market to have a good revenue rate. The Mobile satellite services market is expected to increase the market rate in the upcoming years to come.
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REPORT METRIC |
DETAILS |
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Market Size Available |
2023 to 2029 |
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Base Year |
2023 |
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Forecast Period |
2024 to 2029 |
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CAGR |
5.8% |
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Segments Covered |
By Service, Access Type, Industry Verticals, and Region. |
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Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
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Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
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Market Leaders Profiled |
Ericsson, Global Star, Inmarsat, Iridium Communications, ORBCOMM, Echo Star, Intelsat, SingTel, Via Sat, Telstra Ultisat, Hughes, Rig Net, Light Squared, and others. |
Among these segments, the Video services segment holds the major share of the market due to the market's increased demand across the globe. The video services segment is expected to hold dominance during the forecast period. However, the tracking and monitoring services segment is also expected to increase the market value in the upcoming years.
Among these segments, the mobile land segment holds the major share of the market and is expected to hold dominance during the forecast period. The aeronautical access type segment is also expected to increase the market value in the outlook period of time.
Among these segments, the oil and gas segment holds the major share of the market. The military and defense segment is also expected to increase the market value during the forecast period.
North America region holds the major share of the market owing to the factors such as the increasing adoption of advanced technologies across the region by the major market players. Furthermore, the rapid growth of consumer’s preference towards smart devices and also improved network connectivity, increasing government initiatives is also one of the major driving factors that propel the growth of the market of Mobile Satellite Services in the North America region. This North American region is expected to hold dominance during the forecast period.
The Asia Pacific region holds the second-largest share of the market of Mobile Satellite Services owing to the rapid growth of population and the need for high-speed connectivity, especially in some of the emerging economies such as India and China.
The Europe region is expected to increase the market value of Mobile Satellite Services due to the growing development of the Internet of Things propels the market's growth in the Europe region.
Latin America region is also expected to increase the market value attributed to the increasing demand for portability by the major key players of the region, especially from some of the economies such as Brazil, Colombia, and Argentina.
The Middle East and Africa region will experience huge growth in the mobile satellite services market in the mentioned forecast period due to the factors such as increasing investments by the major key players of the region.
The global mobile satellite services market is concentrated with well-established players. Key players in the market include Ericsson, Global Star, Inmarsat, Iridium Communications, ORBCOMM, Echo Star, Intelsat, SingTel, Via Sat, Telstra Ultisat, Hughes, Rig Net and Light Squared
North America
Frequently Asked Questions
Key drivers include the rising demand for reliable communication in remote and rural areas, advancements in satellite technology, increased deployment of connected devices (IoT), and the growing need for disaster management and emergency communication services.
Primary applications include maritime and aviation communication, emergency and disaster response, military and defense communication, remote field operations (such as mining and oil exploration), and IoT connectivity in remote locations.
Challenges include high costs associated with satellite deployment and maintenance, regulatory hurdles, competition from terrestrial mobile networks, and the need for continuous technological advancements to meet evolving communication demands.
Technological advancements such as high-throughput satellites (HTS), low earth orbit (LEO) satellite constellations, advancements in satellite miniaturization, and improved signal processing technologies are significantly influencing the MSS market by enhancing service quality and reducing costs.
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