According to a new report, published by KBV research, The Global Mobile Satellite Services Market size is expected to reach $8.6 billion by 2029, rising at a market growth of 6.5% CAGR during the forecast period.
The Voice segment is showcasing a CAGR of 5.3% during (2023 - 2029). This results from the growing demand for continuous and unbroken communication among employees and staff in the communications, mining, fishing, transportation, building & construction, and tourist sectors. In addition, the growing need to connect from anywhere or over any surface for a range of critical and non-critical causes and purposes is predicted to increase demand for voice satellite services.
The Land Mobile segment is leading the Global Mobile Satellite Services Market by Application in 2022 thereby, achieving a market value of $3.1 Billion by 2029. The segment's expansion has been attributed to the widespread use of mobile satellite services in land mobile apps that demand dependable and secure connectivity in off-the-grid regions where installing terrestrial infrastructure is impractical.
The Industrial segment has shown the high growth rate of 6.8% during (2023 - 2029). The growing usage of ML and IoT technologies in industrial settings fuels the use of MSS for remote device monitoring and data transfer. Due to this, organizations may make data-driven decisions and increase the effectiveness of their operations.
The North America segment dominated the Global Mobile Satellite Services Market by Region in 2022 and would continue to be a dominant market till 2029; thereby, achieving a market value of $2.9 Billion by 2029. The Europe market is anticipated to grow at a CAGR of 6.3% during (2023 - 2029). Additionally, The Asia Pacific market would witness a CAGR of 7.1% during (2023 - 2029).
Full Report: https://www.kbvresearch.com/mobile-satellite-services-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Viasat, Inc., Hughes Network Systems, LLC (EchoStar Corporation), Thuraya Telecommunications Company PJSC (Al Yah Satellite Communications Company PJSC) (Mamoura Diversified Global Holding PJSC), Iridium Communications Inc., Telefonaktiebolaget LM Ericsson, Inmarsat Global Limited (Connect Bidco Limited), Orbcomm, Inc. (GI Partners L.P.), Telstra Corporation Limited, Telesat Corporation, and Speedcast International Limited.
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By Application
By End User
By Geography
Companies Profiled
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