The global mobile satellite services market was valued at more than $3 billion in 2015 and is expected to reach almost $5 billion by 2020, says Technavio.
Technavio has announced its latest market research report on mobile satellite services to its machine to machine (M2M) and connected devices portfolio. This market analysis discusses the major drivers and key emerging trends that will influence the growth of the mobile satellite services market during the forecast period. Some of the top vendors listed in this industry analysis include Globalstar, Inmarsat, Iridium Communications, Singtel, and Telstra.
In terms of geographical analysis, the Americas accounted for around 40% of the overall market share during 2015 and will showcase substantial growth during the forecast period. Argentina, Brazil, Chile, Colombia, Mexico, Peru, and Venezuela will emerge as the key revenue-generators.
“Governments of countries across the globe are taking initiatives to improve the overall penetration of the Internet and voice-based services. They are also mandating that cellular operators incorporate universal service obligation. This enables them to take advantage of the low cost and faster rollout of VSAT services and empower rural customers to use VSAT services,” says Abhishek Sharma, a lead analyst at Technavio for research on machine to machine (M2M) and connected devices.
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The new industry research report from Technavio analyzes some of the key drivers and trends responsible for the growth of this market and its sub-segments.
Rising demand for mobility
Satellite operators are under immense pressure to facilitate a capable satellite network infrastructure due to the growing demand for connectivity. The aviation sector is largely reliant on SatCom connectivity for automated flight operations and on-board Wi-Fi or mobile use to cater to the rise in the demand from customers. Users are being provided with robust communications-on-the-move solutions through SatCom that can grant access to a wide variety of applications and services, leading to market growth. Furthermore, increased installation and deployment of satellite terminals such as IP Voyager on any vehicle with autonomous tracking antenna that tracks satellite signal during movement also fuels the growth of the global satellite services market.
Increasing demand for satellite communication in emergency situations
Satellite communication services play a crucial role in the successful execution of rescue operations. Humanitarian organizations across the globe are reliant on mobile satellite services for its robustness and expansive coverage and facilitating timely and efficient response. Satellite terminals can be easily deployed anywhere, independent of the local infrastructure that provides global coverage and an effective communication channel to help in relief operations during natural disasters and emergency situations. Currently, the adoption of satellite terminals is on an upsurge in countries such as China, India, and Brazil owing to the vastness of these regions and the unavailability of high-speed wireless broadband networks across these countries.
Advancements in digital technology
Many key vendors in the global market for mobile satellite services now offer innovative satellite products that allow users to access applications and services like terrestrial mobile devices do, irrespective of the network. Advancements in satellite network infrastructure and expanded data product lines make it possible to mobile data services and applications through satellite products.
The demand for onboard connectivity in the aviation sector is on a rise as passengers are seeking for seamless global connectivity. This, in turn, is triggering an increase in the collaborations between aviation sector players and MSS companies to ensure reliable and improved communications. Iridium has a long-term partnership with Boeing to develop and deliver onboard communication, satellite constellation flight operations, and satellite control systems to ensure safety and operational efficiency. The incorporation of M2M systems into business operations makes it possible to achieve real-time monitoring of remote assets. As a result, satellite-based M2M services are anticipated to play a key role in supporting remote facility monitoring, real-time asset management, and industrial automation.
Some of the other prominent vendors identified in this report are Comtech Telecommunications, EchoStar, Harris CapRock Communications, Hughes Network Systems, Intelsat General, Kongsberg, Ligado Networks, Mitsubishi Electric, Raytheon, SpaceQuest, Terrestar Network, Thrane and Thrane, Thuraya, TrustComm, ViaSat, and VT iDirect.
This research report includes an in-depth analysis and market shares and sizes of the sub-segments and geography. It provides a comprehensive analysis of the key companies, including their market shares, business overview, key financials, etc. The market study also offers a detailed analysis of key drivers, challenges, and opportunities influencing this market.
A more detailed analysis is available in the Technavio report titled, ‘Global Mobile Satellite Services Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Satellite Ground Station Equipment Market 2016-2020
- Global Distributed Antenna Systems Market 2016-2020
- Global Advanced Extremely High-Frequency Systems Market 2016-2020
- Global X-Band Radar Market 2016-2020
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