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Global Mobile Satellite Services Market to Reach US$ 6.46 Billion by 2027, Impelled by Rising Penetration of Hi-Speed Internet

Published on Jun 14, 2022

The latest report by IMARC Group, titled “Mobile Satellite Services Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027,” finds that the global mobile satellite services market size reached US$ 4.48 Billion in 2021. 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. 

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

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$ 6.46 Billion by 2027, exhibiting a CAGR of 6.05% during the forecast period (2022-2027). 

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.

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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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