In 2017, the global mobile satellite services market was valued at US$3942.3 mn. Rising at a healthy 7.4% CAGR between 2017 and 2025, the global market is likely to reach US$6955.3 mn by the end of 2025. Holding nearly 66.2% of the market based on service type, the data segment emerged dominant in 2016. Its dominance is expected to remain sealed through the aforementioned forecast period. In terms of end-use industry, the market will witnessed the military and defense segment emerge at the fore in 2016.
These days it is just a matter of time before a newly evolved technology translates into an ongoing trend. For instance, bring your own device practices are adopted globally. However, for its successful implementation, it requires support from a strong communication channel, which is fulfilled by mobile satellite services.
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Similar technological advancements have chalked the convergence of terrestrial mobile phones and satellites, which experts have identified one of the primary factors enabling growth in the global mobile satellite services market. Given the scenario, starting from the Internet of Things, autonomous driving, and public safety to augmented reality in video games
Several vendors around the world are deploying solutions either independently or alongside channel partners intending to consolidate larger share in the global mobile satellite services market. To sustain growth amidst intensifying competition, the market players are keen on pacing up with emerging technologies to keep their product lines up-to-date.