Mobile Satellite Services Market: Global Industry Analysis and Forecast (2021-2029) Trends, Statistics, Dynamics, Segmentation

Mobile Satellite Services Market size was valued at US$ 6.9 Bn. in 2021 and the total Mobile Satellite Services Market revenue is expected to grow at 9.9% from 2022 to 2029, reaching nearly US$ 14.7 Bn.
Mobile Satellite Services Market Overview:
Mobile satellite services (MSS) are wireless communication services (voice and data) made available to portable or mobile terminals through satellite srvices. Number of technical breakthroughs in telecommunication industry, including 5G and the internet of things (lot) are bringing diverse advantages to end users and new revenue channels are being created out of it. Mobile generation supports 5G owing to its advantages for users, carriers, and businesses. In the 5G era, operators are attempting to evolve their networks in numerous ways to grow income and decrease expenses. Additionally, to achieve growth in telecom services, telecom operators are diversifying their sources across mobile platforms, TV/entertainment, advertising, and loT. The market for mobile satellite services grow as a result. Amazon.com, Inc., Google LLC, Microsoft Corporation, and other cloud-based businesses use 5G speed to enhance and improve consumer happiness in the market. During the forecast period, there will be 29 billion more loT connections, approximately doubling the current amount. Governments all throughout the world, for instance, are making it simpler to acquire sites, install base stations, and build tiny cells. Governments can also enact regulations that lighten the operator's load, facilitating the development and use of mobile satellite services.
Report Scope:
Mobile Satellite Services research offers a comprehensive overview of the market's drivers, restraints, trends, and projections. Porter's five forces research demonstrates how suppliers and customers can create networks of suppliers and customers to drive profitable decisions. The current Mobile Satellite Services Market potential is ascertained by in-depth analysis, market size, and segmentation. The analysis provides a complete picture of the industry's future to investors and also includes information on the variables expected to have a positive or negative impact on the company.

The research offers a complete understanding of the market for those investors. This research contains scenarios for the Mobile Satellite Services Market from the past and present, along with projected market numbers. The report's thorough analysis of important competitors, including market leaders, followers, and new entrants, covers every aspect of the market. The research contains strategic profiles of the top market participants, a full examination of their key competencies, and their company-specific plans for the introduction of new products, growth, partnerships, joint ventures, and acquisitions. With its clear portrayal of competitive analysis of significant companies by Access Type, pricing, financial condition, product portfolio, growth strategies, and regional presence in the domestic as well as the local market, the research acts as an investor's guide.To know about the Research Methodology :- Request Free Sample Report
Mobile Satellite Services Market Dynamics:
Market Driver:

Penetration into more people, families and housholds across the different income groups are expected to drive the growth of mobile satellite services in new market segments

The way people study, work, and communicate has changed as a result of the growing advancement of digital technology. Positive cultural shifts have been brought about in developing nations thanks to the Internet's fast technological advancements. Additionally expected growth in demand for MSS is the need for increased social connectivity and entertainment. The use of video, voice, data, and tracking and monitoring services, among other important MSS, allows for user contact from and to distant locations.

The availability of communication signals, capabilities, and concerns with weak signal strength in remote places improved through deployment. Therefore, no matter the circumstance, MSS is essential for maintaining connectivity. As a result, MSS use grows in rural locations in the forecast period. By allowing users to connect and communicate with loved ones, authorities, etc., MSS also helps to reduce various risks related to traveling through distant regions and landscapes. Even when cellular networks malfunction in some areas, this is still achievable. improving user confidence, comfort, safety, and security. Furthermore. During the forecast period, the demand for quick, dependable access everywhere is expected to drive the market.

Mobile Satellite Services market growth from Automobile Industry

Another element expected to significantly contribute to the growth of the global MSS market's in the forecast period is the automotive industry's growing demand for systems that improve vehicle navigation capabilities.

Market Restraints:

The high initial expenditures and extended time required to design and install satellites and systems likely limit the growth of the market

Mobile satellite services are delivered using satellites, Earth stations, and a number of additional parts, including sensors and transmitters. A significant sum of money, a qualified crew, and a considerable amount of time are required for the development and deployment of a satellite. Satellites that have been placed into orbit or space cannot be repaired, which causes substantial losses. The market growth for mobile satellite services are hampered by these problems and same are given with detailed analysis in the report with its impact on the forecast period.

During the forecast period, it is expected that low bandwidth, a lack of stringent government restrictions, high initial costs, and the time-consuming design, building, deployment/launch, and monitoring of satellites restrain the growth of the market. Satellite services are taking the role of conventional cellular networks and services. Owing to increased regulatory restrictions in some areas, voice and data quality suffers as a result of constrained capacity and poor signal conditions. Additionally, it is expected that the expected timeframe see a decline in demand for mobile satellite services owing to large propagation delays and excessive noise or static noise caused by thunderstorms and atmospheric disturbances.

Market Opportunities:

The growing demand for technologies that enhance car navigation in the automotive industry

The development of digital technology has altered how people interact, learn, and work. Positive cultural changes have occurred in developing nations as a result of the quick technological advancements made possible by the Internet. As people's need for entertainment and social connection increases, there is undoubtedly a growth in the demand for mobile satellite services. The use of mobile satellite services soars in rural areas in the following stages of the expected mobile satellite services market forecast. Furthermore, by enabling users to connect with family and authorities as well as other parties, mobile satellite services help to mitigate many of the risks associated with traveling across remote locations and landscapes. This is workable even when cellular networks malfunction in particular locations, increasing user safety, security, convenience, and confidence. Additionally, it is expected that the growing need for a fast and simple method of communication at any time and anywhere fuels the growth of the market for mobile satellite services. The deteriorating state of cellular networks is one of the main problems in rural areas. High degrees of connectivity assurance is achieved by using mobile satellite services including phone, video, and data. Owing to their increased connectivity at a reduced cost, these services revolutionize mobility and communication. The growing desire for safer, more secure, and more direct access to and use of satellite communication services to fill up gaps in terrestrial networks is one important driver expected to drive mobile satellite services market share throughout the forecast period.
Mobile Satellite Services Market Segment Analysis:
Based on Access Type, The growing number of applications in the defense and military sectors, the land segment is expected to have a much higher market share throughout the forecast period than other access type segments. A mobile earth station is another component of mobile satellite service that is used by a variety of high-tech rail systems and other forms of transportation. Mobile earth stations also offer reliable communication systems in outlying areas. Additionally, the growing need for mobile communication services that are more affordable than cellular services is expected to promote this segment's development.

Owing to the growing demand for better data connectivity to grow operational efficiency, onboard security and monitoring, and employee/passenger welfare, the sector for the meantime service is expected to grow at a noticeably quick CAGR during the forecast period. Demand for maritime mobile satellite services is also anticipated to increase due to the growing need for real-time communication and entertainment among marine vessel crew members, mariners, and passengers. Additionally, the growing need for more continuous and precise weather-related data and information, vehicle and vessel position reports, and safety warnings without incurring high communication costs is expected to propel this segment's growth during the course of the forecast period.

Based on Service Type, the Data Service segment is expected to grow at the highest CAGR during the forecast period. Owing to the growing need for maritime applications, Demand for data satellite services is expected to grow. Increase in the necessity for gathering radar imaging data under cloud cover or night. Additionally, this market segment is expected to have market growth. Growing demand for mobile data satellite services for security surveillance, crop monitoring, and agriculture and forest mapping.

Thank to the increased need to ensure constant and uninterrupted communication for workers and personnel in the mining, fisheries, building and construction, transportation, communications, and tourism industries, the voice service segment market is expected to increase at a significantly steady CAGR during the forecast period. The demand for voice satellite services is also expected to grow owing to the growing requirement to connect from any location or over any terrain for a variety of important and non-critical causes and purposes. Additionally, there is a growing desire for communication methods that are more affordable is expected to promote the market growth of this segment even in locations without a traditional technique or manner of modern connectivity.Based on End-user, the Aerospace & Defence segment is expected to grow at the highest CAGR during the forecast period. The MSS market is divided into the Banking, Financial Services and Insurance (BFSI), aerospace & defence, healthcare, public sector, IT & telecommunications, retail, and other categories based on end-user. Because of the growing requirement to increase military mobility and connection on land, sea, and air, the aerospace & defence segment is expected to dominate the market.

Demand for MSS is also expected to increase as government spending grows to enhance the security and safety of the armed forces. Additionally, during the forecast period, this segment is expected to grow owing to the defence industry's growing requirement for mobile satellite services for navigation, communication, weather monitoring and prediction, GIS, and imagery services, among other things. Owing to the growing demand for improved voice and data clarity to provide an improved user experience, the IT & telecom segment is expected to grow at a relatively fast CAGR during the forecast period. Additionally, the growing presence of IT and telecom providers as well as increased investments by telecom providers to provide access to mobile satellite services to their customers are expected to continue to drive market growth.
Mobile Satellite Services Market Regional Insights:
North America dominated other regional markets in 2021. This trend is expected to continue during the forecast period thanks to the region's strong concentration of major market players, including Indium Communications, Inc., Globalstar, Inc., TerreStar Corporation, and SpaceQuest, Ltd. The demand for MSS in the region is also expected to grow owing to growing government funding for the advancement of newer, more sophisticated navigation and communication satellites and systems to improve and guarantee uninterrupted connection ability in remote locations. For instance, the Department of Defence reported in June 2018 that the Air Force Space Command-52 satellite launch contract with SpaceX was worth US$130 million. Additionally, the region's industry is expected to develop terms owing to growing technological advancements and improved network connectivity. In addition, growing demand from the government, manufacturing, and aviation sectors, among others, is expected to propel market growth in the area during the course of the forecast year.

Europe market is expected to have a substantially fast rate of market growth. The region's growing number of major mobile satellite service providers, including Telefonaktiebolaget LM Ericsson (Ericsson, Inc.), EchoStar Mobile Limited, and Intelsat S.A., among others, can be linked to this growth rate. Additionally, it is expected that growing government backing for the use of mobile satellite services grows the demand for these services in the area. For instance, the European Commission and the European Information and Communication Technologies (ICT) industry collaborated on the 5G Infrastructure Public Private Partnership (5G PPP) to provide solutions, architectures, technologies, and standards for the pervasive next-generation communication infrastructures during the forecast period. Additionally, growing investments by telecom operators to improve bandwidth are expected to drive market growth during the course of the forecast period.

Asia Pacific is expected to post a CAGR that is notably strong. The fast growth of the market is attributable owing to growing smartphone and Internet of Things (loT) adoption rates in the region's nations. In addition, it is expected that demand for mobile satellite services grows as a result of the growing population and a shift in consumer preference toward smart gadgets, particularly in China, Japan, and India. Additionally. Growing government efforts to adopt 5G technology and growing demand for mobile satellite services in the transportation and military industries are two factors expected to propel market growth.
Mobile Satellite Services Market Scope: Inquire before buying



Mobile Satellite Services Market


Report Coverage
Details


Base Year:
2021
Forecast Period:
2022-2029


Historical Data:
2017 to 2021
Market Size in 2021:
US $ 6.9 Bn.


Forecast Period 2022 to 2029 CAGR:
9.9%
Market Size in 2029:
US $ 14.7 Bn.


 Segments Covered:
by Access Type
• Land
• Maritime
• Aeronautical


by Service Type
• Data Service
• Video Service
• Voice Service
• Tracking & Monitoring


by End-user
• Aerospace & Defence
• Banking, Financial Services and Insurance (BFSI)
• Healthcare
• Public Sector
• IT & Telecom
• Retail
• Others



Mobile Satellite Services Market by Region
• North America (United States, Canada and Mexico)
• Europe (UK, France, Germany, Italy, Spain, Sweden, Norway, Austria and Rest of Europe)
• Asia Pacific (China, India, Japan, South Korea, Australia, ASEAN and Rest of APAC)
• Middle East and Africa (South Africa, GCC, Egypt, United Arab Emirates, Nigeria and Rest of ME&A)
• South America (Brazil, Argentina and Rest of South America)
The Prominent Key Players in Mobile Satellite Services Market Are:
• Globalstar Inc.(UK)
• Ligado Networks(US)
• EchoStar Mobile Limited(US)
• Iridium Communications Inc.(US)
• SpaceQuest Ltd(US)
• ORBCOMM Europe Holding BV(US)
• Motorola Solutions(US)
• Intelsat S.A(US)
• Comtech Telecommunications(US)
• Inmarsat PLC(Ireland)
• Thuraya Telecommunications Company(United Arab Emirates)
•ViaSat UK Limited(United Arab Emirates)
• Telefonaktiebolaget LM Ericsson (Ericsson,Inc)(Sweden)
• Ericsson Inc.(Sweden)
• Telestra Corporation(Australia)
• SingTel(Singapore)
• Singtel Ltd(Singapore)
• Kongsberg(Norway)
• VirSat(India)

Frequently Asked Questions:

1] What segments are covered in the Global Mobile Satellite Services Market report?
Ans. The segments covered in the Mobile Satellite Services Market report are based on Access Type, Service Type, End User and Region.

2] Which region is expected to hold the highest share in the Global Mobile Satellite Services Market?
Ans. The North America region is expected to hold the highest share in the Mobile Satellite Services Market.

3] What is the market size of the Global Mobile Satellite Services Market by 2029?
Ans. The market size of the Mobile Satellite Services Market by 2029 is expected to reach USD 14.7 Bn.

4] What is the forecast period for the Global Mobile Satellite Services Market?
Ans. The forecast period for the Mobile Satellite Services Market is 2021-2029.

5] What was the market size of the Global Mobile Satellite Services Market in 2021?
Ans. The market size of the Mobile Satellite Services Market in 2021 was valued at USD 6.9 Bn.