The global Mobile Satellite Communications Market research report forecast to 2032 has been recently published by Reports and Data to help user understand the current market scenario. The report offers a detailed analysis of market size, market share, revenue growth, emerging trends, market drivers, restraints, opportunities, limitations, and top companies operating in the market. The data is obtained through extensive primary and secondary research which is further verified by industry experts. This data is represented using various charts, tables and graphs which makes it easier for the reader. It also provides complete analysis of the global Mobile Satellite Communications market with details about statistical tools such as SWOT and Porter’s Five Forces analysis.
The global Mobile Satellite Communications market size was USD 6.48 Billion in 2021 and is expected to register a revenue CAGR of 9.6% during the forecast period. Increasing need for mobility, along with technological advancements is driving revenue growth of the Mobile Satellite Communications market.
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The information and communication technology sector is rapidly gaining traction owing to rapid technological advancements, high demand for smartphones, laptops, computers and other modern electronic devices, and increasing adoption of latest technologies such as Artificial Intelligence (AI), Internet of Things (IoT), and cloud services. The ICT sector consists of several sections, software, hardware, telecommunications and other services. Factors such as increasing demand for advanced ICT services in BFSI, agriculture, retail, hospital and healthcare, rapid adoption of digitalization, rising number of internet users and high demand of advanced services and devices are expected to drive global market revenue growth during the forecast period. Other factors such as increasing need for managing large data base, rising concerns about data security and increasing investments in RD activities are expected to boost market growth during the forecast period.
Satellite Communication (Satcom) has emerged to be one of the most crucial elements of modern communication infrastructure that involves an artificial satellite in a network which is further expected to drive Mobile Satellite Communications market revenue growth. On 3 May 2022, Satcom Industry Association (SIA) expressed concerns over the Telecom Regulatory Authority of India (Traiproposals)'s to include the 27.5 to 28.5 GHz and 3.60 to 3.67 GHz bands in the next 5G spectrum auction. The livelihoods of individuals already utilizing these bands and established services, including significant investments made to provide TV and broadband services through satellite, would undoubtedly be impacted by this.
Competitive Landscape:
Competitive landscape of global Mobile Satellite Communications market is quite fragmented with regional and global key players. These market players are involved in various strategies including mergers and acquisitions, collaborations, new product launches or corporate deals to retain their market position and expand product portfolio.
Some leading companies operating in the global Mobile Satellite Communications market
Telstra Corporation, Ltd, Intelsat, EchoStar Corporation, Telefonaktiebolaget LM Ericsson, Viasat, Inc., Globalstar, Iridium Communications Inc., Thuraya Telecommunications Company, Orbcomm, Inmarsat Global Limited.
The global market is further segmented into type and application:
By Service Outlook
- Voice Service
- Video Service
- Tracking and Monitoring Service
- Data Service
By End-Use Outlook
- Banking, Financial Services, and Insurance (BFSI)
- Aerospace Defence
- Healthcare
- Media Entertainment
- Transportation
Regional analysis provides insights into key trends and demands in each major country that can affect market growth in the region.
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Rest of APAC)
- Latin America (Brazil, Rest of LATAM)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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