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Increasing developments of digital technology and need for connectivity for communication among residents in remote locations are key factors driving market
— Emergen Research
VANCOUVER, BC, CANADA, June 20, 2023/EINPresswire.com/ — The global Mobile Satellite Services (MSS) market size reached USD 6.31 Billion in 2021 and is expected to register a revenue CAGR of 9.5% during the forecast period, according to latest analysis by Emergen Research. Increasing advancements in digital technologies and increasing need for better connectivity and communications among individuals or support and/or service and other groups and researchers, travelers, hikers, wildlife department, and others staying or operating in remote locations are key factors projected to support market revenue growth between 2022 and 2030. In addition, increasing need for more accurate and timely weather forecasting and telecommunications will drive revenue growth of the market. Increasing urbanization has resulted in a rapid increase in global warming, resulting in rapid weather change, erratic weather conditions, volcanoes, wildfires, melting glacier ice, and floods, which is resulting in urgent need for better solutions to alleviate the problem, enable better and more accurate monitoring, and for providing alerts and communicating with concerned authorities/bodies in real time. MSS is an emerging solution to the problem as it will help in predicting weather and help in protecting life and property. Forecasting based on satellite services are also helpful in agriculture and various industries. Additionally, increasing need to reduce time and costs spent on after damage of properties is expected to boost demand for MSS. Furthermore, increasing need for faster, more convenient, and flexible mode of communication in remote locations is expected to drive market revenue growth during the forecast period.
However, lack of stringent government regulations is expected to hamper market revenue growth to some extent during the forecast period. Steady advancements in digital technology has resulted in emergence of more efficient communication and convenient solutions and services and this is also resulting in the development and deployment of effective communication infrastructure globally. However, lack of stringent regulations to control the illegal use of satellite services for terrorism-related activities could hamper market revenue growth to a certain extent during the forecast period. In addition, increasing restrictions on using satellite phones in specific countries and regions is expected to hamper market revenue growth to some extent going ahead.
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According to the regional analysis, the market is primarily spread over key geographical regions as follows:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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The report offers a comprehensive overview of the competitive landscape and covers company profiles, production and manufacturing capacity, product portfolio, expansion strategies, and business initiatives such as mergers and acquisitions, joint ventures, collaborations, partnerships, and product launches and brand promotions among others.
Prominent Players Analyzed in the Report:
Telefonaktiebolaget LM Ericsson (Ericsson, Inc.), Telstra Corporation, Ltd., ViaSat, Inc., EchoStar Corporation, Iridium Communications, Inc., Intelsat S.A., Globalstar, Inc., Thuraya Telecommunications Company, TerreStar Corporation, and SpaceQuest, Ltd.
Furthermore, the report divides the Mobile Satellite Services market into key segments and sub-segments to offer an analysis of the product type and application spectrum of the industry. It also offers predictions about the segments expected to show significant growth during the projected timeline.
Access Type Outlook (Revenue, USD Billion; 2019–2030)
Land
Maritime
Aeronautical
Service Type Outlook (Revenue, USD Billion; 2019–2030)
Video Service
Voice Service
Data Service
Tracking & Monitoring Service
End-use Outlook (Revenue, USD Billion; 2019–2030)
Banking, Financial Services and Insurance (BFSI)
Aerospace & Defence
Healthcare
Public Sector
IT & Telecom
Retail
Others
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Overview of the Mobile Satellite Services Market Report:
Introduction, Product Scope, Market Overview, and Opportunities
Analysis of the Manufacturers with sales, revenue, and price analysis
Comprehensive analysis of the competitive landscape
Extensive profiling of the key competitors along with their business strategies and market size
Regional analysis of the market along with sales, revenue, market share, and global position
Country-wise analysis of the market along with types, applications, and manufacturing
Strategic recommendations to established players as well as new entrants
In-depth analysis of the risks, restraints, and limitations in the Mobile Satellite Services industry
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