Mobile Satellite Services (MSS) Market Size to Reach USD 14.25 Billion in 2030
VANCOUVER, BC, April 1, 2022 /PRNewswire/ — Global Mobile Satellite Services Market Size Reached $6.31 billion in 2021 and is expected to register a significantly rapid revenue CAGR over the forecast period, according to the latest analysis from Emergen Research. The growing need for connectivity and communications in disaster and emergency situations is a major factor expected to drive the market revenue growth.
Navigation and tracking are becoming essential as technologies help reduce traffic congestion, fuel costs and potential traffic accidents, as well as save time and money. Mobile Satellite Services (MSS) provides real-time route images, traffic information and predictive item data, providing short-term forecasts of route, traffic conditions, weather conditions and weather global necessary to move from one point to another.
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However, misuse of MSS could raise concerns about user security and safety. Therefore, Mobile Satellite Services (MSS) should be used with the knowledge of automotive applications that integrate all kinds of location-related information and emergency features such as voice service in case of emergency. Additionally, mobile satellite services improve user efficiency leading to increased productivity which is expected to drive the market revenue growth over the forecast period.
However, high upfront costs and lead times to manufacture and deploy satellites and systems are major factors that are expected to hamper revenue growth. Mobile satellite services operate using satellites, earth stations, and various other components such as sensors and transmitters, among others. Developing and launching a satellite requires high overall capital, a team of experts and time. In addition, satellites once launched into space or into orbit cannot be repaired, resulting in significant losses.
The global mobile satellite services (MSS) market is expected to register a CAGR of 9.5% during the forecast period, and revenue is expected to increase by $6.31 billion in 2021 for $14.25 billion in 2030. Growing demand for mobility and more advanced communications and related services is a major driver of market revenue growth.
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COVID-19 impact analysis:
The COVID-19 pandemic has had a negative impact on the mobile satellite services market. The COVID-19 pandemic has affected various industries, leading to factory closures and disruption of supply chains. However, MSS providers are focused on efforts to mitigate the impacts of the pandemic. In March 2021 for example, Iridium Communications, Inc. announced that the company surpassed 152,000 total users with 13% subscriber growth in 2020. Additionally, in October 2020, Iridium Communications, Inc. reported a 26% hike in subscription rates during the pandemic. These factors are expected to drive the market revenue growth post Covid-19.
Current trends and innovations:
Cellular network systems are mainly damaged in the event of disasters such as hurricanes, earthquakes, floods and wildfires, among others, which can affect the communication systems by compromising the infrastructure. Therefore, mobile satellite services are an ideal alternative in case of disaster or emergency. One of the main purposes of Mobile Satellite Services (MSS) is to broadcast warning information about what is happening and to inspire people to act accordingly. Additionally, MSS enables essential communications services to maintain local and government services such as disaster response, police, reporting, and healthcare. Furthermore, the increasing need of people to connect to important resources and account for their safety via emergency calls, text messages or social media updates is expected to drive the market revenue growth over the course of of the forecast period.
Europe The market is expected to register a significantly robust revenue growth rate over the forecast period owing to increasing government support supporting the adoption of mobile satellite services and growing penetration of major mobile satellite service providers , such as Telefonaktiebolaget LM Ericsson (Ericsson, Inc.), EchoStar Mobile Limited, and Intelsat SA, among others, in the countries of the region.
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Some major companies included in the global market report are Telefonaktiebolaget LM Ericsson (Ericsson, Inc.), Telstra Corporation, Ltd., ViaSat, Inc., EchoStar Corporation, Iridium Communications, Inc., Intelsat SA, Globalstar, Inc., Thuraya Telecommunications Company, TerreStar Corporation and SpaceQuest, Ltd.
- In August 2020, Intelsat SA has launched Galaxy 30, a geosynchronous communications satellite that will provide high-performance television distribution to Intelsat’s North American customers. Galaxy 30 is the first satellite in Intelsat’s Galaxy Fleet Renewal Plan. It will replace the existing Galaxy 14 fleet once it goes live in early 2021. The launch aims to transform and protect low-band media services for 5G wireless services.
Emergen Research has segmented Global Mobile Satellite Services (MSS) Market Based on Access Type, Service Type, End-Use and Region:
- Access Type Outlook (Revenue, USD Billion; 2019-2030)
- Service Type Outlook (Revenue, USD Billion; 2019-2030)
- Video Service
- Voice department
- Data Services
- Tracking and monitoring service
- End-Use Outlook (Revenue, USD Billion; 2019-2030)
- Bank, Financial Services and Insurance (BFSI)
- Aerospace and Defense
- Health care
- Public sector
- IT & Telecom
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- Regional Outlook (Revenue, USD Billion; 2019-2030)
- North America
- a. WE
- b. Canada
- vs. Mexico
- a. Germany
- b. France
- vs. UK
- D. Italy
- e. Spain
- F. Benelux
- g. Rest of Europe
- Asia Pacific
- a. China
- b. India
- vs. Japan
- D. South Korea
- e. Rest of APAC
- Latin America
- a. Brazil
- b. Rest of LATAM
- Middle East & Africa
- a. Saudi Arabia
- b. United Arab Emirates
- vs. South Africa
- D. Turkey
- e. Rest of MEA
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