Mobile Satellite Services Market

Mobile Satellite Services Market Size Analysis (2022 - 2027)

The market value of the Mobile Satellite Services market was valued at 4.06 billion US dollars in the year 2021, which is expected to increase the growth by 7.55 billion US dollars by the end of 2026 with a compound annual growth rate of 5.8% during the forecast period of 2022 - 2027.

Driving Factors

The interoperability across the devices to spur the market demand is one of the major driving factors which promotes the growth of the Mobile Satellite Services market.

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.

Challenges

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.

Segmentation Analysis

The Mobile Satellite Services market is segmented by service, access type, and vertical.

Mobile Satellite Services Market - By Service

• Video services
• Voice services
• Data services
• Tracking and monitoring services

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.

Mobile Satellite Services Market - By Access Type

• Land Mobile
• Maritime
• Aeronautical

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.

Mobile Satellite Services Market - By Industry Verticals

• Oil and Gas
• Media and Entertainment
• Mining
• Military and Defense
• Aviation
• Transportation

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.

Regional Analysis

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.

Key Market Players

Some of the key market players of the Mobile Satellite Services market are: 

• Ericsson
• Global Star
• Inmarsat 
• Iridium Communications
• ORBCOMM 
• Echo Star
• Intelsat
• SingTel 
• Via Sat 
• Telstra Ultisat
• Hughes
• Rig Net 
• Light Squared 

Impact of COVID-19 on 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.