Mobile Satellite Services Market Size, Growth, Trends and Demand with Outlook 2021 to 2030
The Global Mobile Satellite Services Market size is estimated to be USD 4.39 billion in 2019 and is predicted to reach USD 9.34 billion by 2030 with a CAGR of 7.1% from 2020-2030.
Mobile Satellite Services are the telecom service provided to the mobile user with the help of satellite to set up the communication between two devices. To establish the communication one device sends signals to the satellite which directs it to the receiver device and enables the communication. Mobile satellite services are also known as mobile satellite radio communication services.
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Top Companies: Globalstar, Inc., Ericsson Inc., Inmarsat Holdings Limited., Orbcomm Inc., Iridium Communications, Inc., Echostar Corporation., Singtel Ltd., Intelsat General Corporation., Telstra Corporation Limited and VirSat Inc. and others.
The global mobile satellite services market share is analysed on the basis of service type, application, industry vertical, and geography. On the basis of service type, the market is segmented into Video Service, Data Service, and Voice Service. Based on application, the market is fragmented into land, air, maritime. On the basis of industry verticals, the market is divided into Banking, Financial Services, and Insurance, Aerospace & Defence, Healthcare, Public Sector, IT & Telecom, Retail, and Other. Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising North America, Europe, Asia-Pacific, and RoW.
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North America is expected to account for the major market share over the forecast period owing to the increased adoption of mobile satellite services. Furthermore, increase in technological advancement and presence of developed infrastructure is further expected to enhance the growth of mobile satellite services market. Asia Pacific is expected to show significant growth with gradual increase in market share owing to the increased demand of developed communication services. Moreover, increased demand of portable and mobility services are further expected to fuel the growth of mobile satellite services market.
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