(MENAFN - Zion Market Research) Zion Market Research has published a new report titled 'Mobile Satellite Services Market by Access Type (Aeronautical MSS, Land MSS, Maritime MSS, Personal MSS, and Broadcast MSS), By Service Type (Data and Voice), and By End-Use Industry (Oil & Gas, Media & Entertainment, Mining, Military & Defense, Aviation, Government, Transportation, Automotive, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 20182025. According to the report, the global mobile satellite services market was USD 4.1 billion in 2018 and is expected to reach around USD 6.7 billion by 2025, at a CAGR approximately 7.3% between 2019 and 2025.
Mobile satellite service is a network of communication satellites to use with portable wireless telephones and mobile phones. It is a type of mobile telephone service that uses portable terrestrial satellites. The technology of satellite communication uses satellite to transfer signals from the transmitter to the receiver. Currently, the quick emergence of technological advancements needs to be backed by a strong communication system, such as mobile satellite services. The technological advancements have led to the emergence of traditional terrestrial mobile phones with the satellites, which are driving the mobile satellite services demand. Thus, experts have anticipated the advent of new technology and technological advancements as a major driver of the mobile satellite services market. Moreover, in case of emergencies, portable mobile satellite services can be extremely helpful. Thus, there's a growing demand for mobile satellite services, especially in calamities prone area, which is further driving the mobile satellite services market. Additionally, the mobile satellite services market growth can also be credited to the network flexibility, such as the use of MSS in remote areas that lack wired network options. The manufacturing, designing, and development of mobile satellite services process is time-consuming in nature and involves huge costs during the process, which may restrict the growth of the mobile satellite services market.
Browse the full 'Mobile Satellite Services Market by Access Type (Aeronautical MSS, Land MSS, Maritime MSS, Personal MSS, and Broadcast MSS), By Service Type (Data and Voice), and By End-Use Industry (Oil & Gas, Media & Entertainment, Mining, Military & Defense, Aviation, Government, Transportation, Automotive, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 20182025 Report at https://www.zionmarketresearch.com/report/mobile-satellite-services-market
By service type, the data service segment is anticipated to grow substantially in the future. This can be attributed to growing economies and rising individual income. Economies around the globe are now less concerned with the material needs and more concerned about the services they get. BGAN Link and Inmarsat I-4 Satellite network are some data services offered by mobile satellite services, which is likely to further boost the data service segment. On the basis of end-use industry, the mobile satellite services market includes military and defense, transportation, mining, oil and gas, aviation, media and entertainment, government, automotive, and others. The military and defense sector is anticipated to show steady growth, owing to the growing adoption of various satellites and cellular services globally.
The Asia Pacific mobile satellite services market is likely to grow significantly in the future, owing to the faster regional adoption of cellular services and mobile satellites. Moreover, the regional governments are escalating their efforts toward the implementation of the 5G technology along with the rising penetration of Internet of Things and smartphones in the region.
Some key players of the mobile satellite services market are GlobalStar Corporation, Echostar Corporation, Ericsson, Raytheon, Inmarsat, Harris CapRock Communications Intelsat, Iridium Communications, Hughes Network Systems, Singtel Satellite, Telstra Corporation, Tesacom, Thuraya Telecommunications, ViaSat, Comtech Telecommunications, ORBCOMM, Kongsberg, Ligado Networks, Mitsubishi Electric, SpaceQuest, and TerreStar.
This report segments the global mobile satellite services market into:
Global Mobile Satellite Services Market: By Service Type
- Data Service
- Voice service
Global Mobile Satellite Services Market: By Access Type
- Aeronautical MSS
- Land MSS
- Maritime MSS
- Personal MSS
- Broadcast MSS
Global Mobile Satellite Services Market: By End-Use Industry
- Oil and Gas
- Media and Entertainment
- Military and Defense
Global Mobile Satellite Services Market: By Region
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
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