As the name suggests, mobile satellite services are intended to be used with portable and wireless devices. These satellite-based communication systems offer data and voice service to the users from around the world. Some of these services are commonly available in a terrestrial mobile network. Satellite services have played a crucial role in the overall growth of different industries like information technology, media, and communication. Constant innovations in terms of technology and strong demand from the emerging markets are considered to be the major drivers for the mobile satellite services market. The global MSS market is expected to witness healthy growth in the next few years, which is a positive sign for the key players looking for business opportunities around the world.
Scope of Research – Segmentation
The global mobile satellite services market is segmented on the basis of the types of services, access types and their demand from different industries and geographic regions. The types of services in the market include data, voice, video and tracking and monitoring services. The basic access types in the market are categorized into maritime, land mobile and aeronautical. Based on the demand from different industrial verticals, the MSS market is segmented into mining, oil and gas, military and defense, transportation, aviation, media and entertainment and such other industries. Based on the demand from different geographic regions, the market is segmented into Europe, North America, Middle East and Africa, Latin America, and Asia Pacific.
Drivers and Restraints
As per the experts, the four major drivers for the mobile satellite services market include increasing demand for mobility and growth in the use of mobile and wireless devices. Emerging advancements in digital technology and growing focus of data applications and services are also expected to create potential business opportunities in the market. Rising integration demands for terrestrial mobile and satellite technologies are also expected to drive the business in this industry. Major restraints for the key players in the market include frequency congestions and issues with policies and regularization. Easy accessibility and availability along with lack of interoperability between services remain the major challenges for the market.
As per the latest reports, the mobile satellite services market is expected to maintain a healthy growth rate of over 10% from 2014 to 2019. At the estimated growth rate, the market is estimated to become worth $5.62 billion by the end of the year 2019. As of year 2014, the market is estimated to be worth $3.45 billion. Reliability in quality of service, improved frequency spectrum and strong demand from the emerging markets of the world are expected to provide potential growth opportunities for the market. Asia Pacific is expected to witness impressive growth rate during the next few years, which signifies the rising demand and industrial growth within the region.