Pune 11 April 2023: A global Information Technology & Telecommunication business-consulting firm, Maximize Market Research, has published a market intelligence and competitive landscape report on the “Mobile Satellite Services Market”. The report is a combination of primary and secondary data and domain expert has analyzed the Mobile Satellite Services Market from a local and a global point of view. Over the forecast period, Maximize Market research expects, the market to grow from USD 7.58 Bn in 2022 to USD 14.68 Bn in 2029 at a CAGR of 9.9 percent.
Mobile Satellite Services Market Report Scope and Research Methodology
The report includes the current trends and market highlights in the Mobile Satellite Services market. It provides the major drivers, challenges, and restraints of the Mobile Satellite Services market. The report covers the estimation of the Mobile Satellite Services market size and growth rate of the market investors and stakeholders perceive the investment decisions with the demand and pricing analysis of the market.
Regional analysis of the Mobile Satellite Services market is conducted at a global, regional and country level and it helps the regional insights such as market share dominance, market penetration and upcoming market growth opportunities. Key players include market revenue, advanced technologies, joint ventures and mergers and acquisitions for the competitive analysis of the market.
For a segment-wise analysis of the Mobile Satellite Services market, it is divided by Access Type, Service Type and End-Users. The bottom-up approach was used for Mobile Satellite Services market estimation. Primary and secondary data collection techniques with qualitative and quantitative analysis are used for the collection of data for the Mobile Satellite Services market. SWOT analysis was conducted to provide the strengths and weaknesses of the Mobile Satellite Services Market while PESTLE was employed to understand the growth targets and risks of the Mobile Satellite Services market.
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Mobile Satellite Services Market Dynamics
The increasing demand for Mobile Satellite Services from several sectors such as financial services, transport, banking, Insurance (BFSI) and the automotive sector is the primary growth driver for the market. The technological advancements in digital technology resulted in an increase in the penetration of Mobile Satellite Service for the purpose of work, study and communication. The increasing need for a fast method of communication at any time and the growing use of mobile satellite services soaring in rural areas are helping to influence the growth of the Mobile Satellite Services market. The rise in the use of satellite communication services for IoT and disaster management areas in the developed region and the increasing investment and focus on data services and applications are contributing factors to the growth of the market.
To enhance the navigation of the car in the automotive industry there is a large demand for technologies and this is an expected lucrative opportunity for the market. During the forecast period, the market growth is expected to be constrained by the lack of stringent regulations, high initial costs and time-consuming design.
Mobile Satellite Services Market Regional Insights
In 2022, North America dominated the Mobile Satellite Services Market and is expected to continue its dominance over the forecast period. The regional market growth is driven by the technological infrastructure and strong network connectivity and increasing demand from the end-user industries such as manufacturing, maritime, aviation and others.
Europe is expected to have the fastest-growing region in the Mobile Satellite Services Market. The increasing number of major satellite service providers and increasing demand for Mobile Satellite Services from government banking are the expected influencing factors for the growth of the Mobile Satellite Services Market.
During the forecast period, the Asia Pacific region is expected to have a significant CAGR for the Mobile Satellite Services Market. The growing adoption of the smartphones and Internet of things and the increase in demand for Mobile Satellite Services in the militaries and transportation industries are the growth contributors to the Mobile Satellite Services Market.
Mobile Satellite Services Market Segmentation
By Access Type
- Land
- Maritime
- Aeronautical
By Service Type
- Data Service
- Video Service
- Voice Service
- Tracking & Monitoring
By End-user
- Aerospace & Defence
- Banking, Financial Services and Insurance (BFSI)
- Healthcare
- Public Sector
- IT & Telecom
- Retail
- Others
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Mobile Satellite Services Market Key Competitors include:
- Globalstar Inc.(UK)
- Ligado Networks(US)
- EchoStar Mobile Limited(US)
- Iridium Communications Inc.(US)
- SpaceQuest Ltd(US)
- ORBCOMM Europe Holding BV(US)
- Motorola Solutions(US)
- Intelsat S.A(US)
- Comtech Telecommunications(US)
- Inmarsat PLC(Ireland)
- Thuraya Telecommunications Company(United Arab Emirates)
- ViaSat UK Limited(United Arab Emirates)
- Telefonaktiebolaget LM Ericsson (Ericsson,Inc)(Sweden)
- Ericsson Inc.(Sweden)
- Telestra Corporation(Australia)
- SingTel(Singapore)
- Singtel Ltd(Singapore)
- Kongsberg(Norway)
- VirSat(India)
Key questions answered in the Mobile Satellite Services Market are:
- What is Mobile Satellite Services?
- What is the CAGR of the Mobile Satellite Services Market?
- What was the Mobile Satellite Services Market size in 2021?
- What is the expected Mobile Satellite Services Market size during the forecast period?
- What is the scope of the Mobile Satellite Services Market?
- What are the Key driving factors for the growth of the Mobile Satellite Services Market?
- What are the different segments of the Mobile Satellite Services Market?
- What are the factors restraining the growth of the Mobile Satellite Services Market?
- What is the demand pattern of the Mobile Satellite Services Market?
- What growth strategies are the players considering to increase their presence in Mobile Satellite Services?
- What are the growth opportunities for the Mobile Satellite Services Market?
- What are the upcoming industry applications and trends for the Mobile Satellite Services Market?
- What recent industry trends can be implemented to generate additional revenue streams for Mobile Satellite Services Market?
- What are the top players operating in the Mobile Satellite Services Market?
- Which region accounted for the largest market share in Mobile Satellite Services Market?
Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2021)
- Past Pricing and price curve by region (2018 to 2021)
- Market Size, Share, Size & Forecast by different segment | 2022−2029
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
- Market Segmentation – A detailed analysis by Access Type, Service Type, End-user and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of business by region
- Lucrative business opportunities with SWOT analysis
- Recommendations
Maximize Market Research is leading Information Technology & Telecommunication research firm, has also published the following reports:
Satellite Internet Market – The market size is expected to reach USD 147.99 Bn by 2029 at a CAGR of 9.5 percent during the forecast period. The market is expected to be driven by the rise in the need for satellite internet and in rural areas increasing demand for satellite internet in the military.
Mobile Satellite Terminal Market – The market size is expected to reach USD 7.50 Bn by 2029 at a CAGR of 6.45 percent during the forecast period. The market is expected to be driven by the increasing demand for video, voice, data and tracking and monitoring services and the increase in the use of satellite communication in the military and defense industry.
About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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