Nov 19, 2019 (Market Insight Reports via COMTEX) -- Global Mobile Satellite Services Market - Growth, Trends, And Forecast (2019 - 2023)
The report presents an in-depth assessment of the Global Mobile Satellite Services including enabling technologies, key trends, market drivers, challenges, standardization, regulatory landscape, deployment models, operator case studies, opportunities, future roadmap, value chain, ecosystem player profiles and strategies. The report also presents forecasts for Global Mobile Satellite Services investments from 2019 till 2023.
The Mobile Satellite Services market is expected to register a CAGR of over 7.52% during the forecast period 2018 – 2023.
The Global Mobile Satellite Services market is highly competitive and consists of a number of major players. Companies, like Ericsson Inc., Globalstar., Inmarsat plc, EchoStar Corporation, Intelsat, S.A., Iridium Communications Inc., ORBCOMM, Singtel Satellite, Telstra Corporation Ltd, Viasat Inc., Thuraya Telecommunications, Tesacom among others.
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Scope of the report:
Satellites have played an essential role in the growth of communications, media, and technology industries all around the world. Currently, satellites are being used for the various range of applications, including telecommunication, weather prediction, and navigation, military intelligence, and space exploration. Augmenting 5G mobile networks with next-generation satellite capabilities helps the satellite operators become a major player in the emerging 5G ecosystem.5G systems are expected to have built-in the new advanced mobile phones, thus allowing telecom operators to provide next-generation satellite capabilities. The Network evolution towards 5G will bring outstanding novelties and improvements not only regarding capacity, latency, connection density, quality and user experience, but also in terms of flexibility, efficiency, scalability and openness of the network that allow phone calls to be made and received anywhere in the world.
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Key Market Trends:
Growing Demand for Mobile Satellite Phones
The growing demand for the communication devices which provide different services such as receiving and sending data from the remote location is the key factor that has been driving the market. Moreover, with the increase number of natural disasters and indefinite occurrence of events resulting in a complete breakdown of communication devices and services on land which results in the necessity to use of satellite communication devices to maintain connectivity at such places.
The moderate competition recognizes the market due to massive capital investment in these services. The competition is based on reliability, product features, performance, quality, and innovation. For instance, In May 2017, Newtec Inc. launched a multi-carrier satellite gateway (MCX 7000) for advanced end-to-end primary destitution system, which is a prominent innovation in satellite technology.
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The key insights of the Mobile Satellite Services Market report:
The report provides key statistics on the market status of the Mobile Satellite Services market manufacturers and is a valuable source of guidance and direction for companies and individuals interested in the industry.