Mobile Satellite Services Market Report 2023-2028: Growth Rate Of 5.8%, Top Companies and New Technology

SHERIDAN, WYOMING, UNITED STATES, February 16, 2023 /EINPresswire.com/ -- What is the Size of Mobile Satellite Services Market ? :

IMARC Group’s latest report, titled “Mobile Satellite Services Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, the global mobile satellite services market size reached US$ 4.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 6.8 Billion by 2028, exhibiting a growth rate (CAGR) of 5.8% during 2023-2028.

Mobile Satellite Services Market Uses:

Mobile satellite services (MSS) represent radio communication solutions that provide voice, data, and internet services to mobile and fixed terminals, ships, aircraft, buildings, land vehicles, etc. They have a wide-area earth coverage and their operations are independent of local telecommunications infrastructures. These services use satellite technology to establish communication between portable terminals or mobile devices. In line with this, MSS can provide communication beyond the terrestrial-based wireless system. Consequently, mobile satellite services find extensive applications in several industries, such as aerospace, maritime, automotive, healthcare, etc.

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Mobile Satellite Services Market Trends and Growth:

The growing penetration of high-speed internet and improving wireless access have led to the introduction of new capabilities, such as enhanced data and multimedia access, which is primarily driving the mobile satellite services market. Additionally, the widespread adoption of MSS by military and defense personnel who travel or operate on land, sea, and air to get network accessibility in areas far from terrestrial or cellular coverage is further catalyzing the market growth. Besides this, the rising utilization of mobile satellite services by forestry, mining, and oil and gas companies for voice communication, remote connectivity, tracking and automated monitoring of equipment and hardware, etc., is acting as another significant growth-inducing factor. Moreover, the development of 5G mobile networks is positively influencing the global market. Apart from this, numerous technological advancements and the increasing digitalization are also propelling the market growth. Furthermore, the escalating demand for low-earth orbit (LEO) satellites is expected to fuel the mobile satellite services market over the forecasted period.

Competitive Landscape with Key Players:

• EchoStar Corporation
• Globalstar Inc
• Inmarsat
• Intelsat S.A
• Iridium Communications Inc
• Orbcomm, Singtel
• Telefonaktiebolaget LM Ericsson
• Telstra Corporation Limited
• Thuraya Telecommunications Company
• Viasat Inc

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Key Market Segmentation:

Breakup by Service Type:

• Voice Service
• Data Service
• Video Service

Breakup by Application Type:

• Land
• Air
• Maritime

Breakup by Industry Vertical:

• BFSI
• Aerospace and Defense
• Healthcare
• Public Sector
• IT and Telecom
• Retail
• Others

Breakup by Region:

• North America (United States, Canada)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key Highlights of the Report:

• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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IMARC Services Private Limited
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