Global Mobile Satellite Services Market to Reach US$ 8.0 Billion by 2032, Impelled by Rising Penetration of Hi-Speed Internet

June 14, 2022 | Technology & Media

The latest report by IMARC Group, titled “Mobile Satellite Services Market Report by Service Type (Voice Service, Data Service, Video Service), Application Type (Land, Air, Maritime), Industry Vertical (BFSI, Aerospace and Defense, Healthcare, Public Sector, IT and Telecom, Retail, and Others), and Region 2024-2032,” finds that the global mobile satellite services market size reached US$ 5.1 Billion in 2023. Mobile satellite services (MSS) refer to telecom services providing voice, data, and internet services to mobile and fixed terminals, ships, aircraft, buildings, and land vehicles. They use satellite technology to establish communication between portable terminals or mobile devices. These services have wide coverage area, and can provide communication beyond the terrestrial-based wireless system. Besides this, MSS can also provide disaster relief telecommunications. Owing to these properties, they are widely adopted across the aerospace, maritime, automotive, and healthcare industries across the globe. 

Global Mobile Satellite Services Market Trends:

The market is primarily driven by the rising penetration of high-speed internet and the growing prevalence of enhanced data and multimedia accessibility. Besides this, the increasing product adoption in forestry, mining, and oil and gas industries for voice communication, remote connectivity, and automated monitoring of equipment and hardware is also contributing to the market growth. In addition, military and defense personnel who travel or operate on land, sea or air are widely adopting MSS to get network accessibility in areas far from terrestrial or cellular coverage. This, coupled with the rising demand for low-earth orbit (LEO) satellites, is also creating a positive market outlook across the globe. Moreover, the advent of 5G mobile networks with next-generation satellite capabilities, rapid digitalization, and increasing partnerships among the leading players are some of the other factors augmenting the market growth. Looking forward, IMARC Group expects the market value to reach US$ 8.0 Billion by 2032, exhibiting a CAGR of 5.02% during the forecast period (2024-2032). 

Market Summary:

  • Based on the service type, the market has been segregated into voice, data, and video services.
  • On the basis of the application type, the market has been classified into land, air, and maritime.
  • Based on the industry vertical, the market has been segmented into BFSI, aerospace and defense, healthcare, public sector, IT and telecom, retail, and others.
  • On the geographical front, the market has been divided into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
  • The competitive landscape of the market has been examined in the report, with some of the key players being EchoStar Corporation, Globalstar Inc., Inmarsat, Intelsat S.A., Iridium Communications Inc., Orbcomm, Singtel, Telefonaktiebolaget LM Ericsson, Telstra Corporation Limited, Thuraya Telecommunications Company and Viasat Inc.

Report Scope:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Segment Coverage Service Type, Application Type, Industry Vertical, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered EchoStar Corporation, Globalstar Inc., Inmarsat, Intelsat S.A., Iridium Communications Inc., Orbcomm, Singtel, Telefonaktiebolaget LM Ericsson, Telstra Corporation Limited, Thuraya Telecommunications Company and Viasat Inc.
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 3899
Five User License: US$ 4899
Corporate License: US$ 5899
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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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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Global Mobile Satellite Services Market to Reach US$ 8.0 Billion by 2032, Impelled by Rising Penetration of Hi-Speed Internet
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