- Category: October 2015 - Mobile Marketing
According to a report, published by TechSci Research "Global Mobile Satellite Services Market Forecast & Opportunities, 2020", the global mobile satellite services market is projected to register revenues worth over USD3.2 billion through 2020. The report reveals that maritime industry is set to continue dominating the market with a stronger foothold in mobile satellite services globally despite miniscule decline in its share through the forecast period.
The demand for mobile satellite services (MSS) grew at a considerable pace over the past few years due to geo-political conflicts in Asia and North Africa. Besides that, the rise in maritime communication within the global shipping industry and continuous oil and gas exploration and mining activities in remote catalyzed the growth of mobile satellite services across the globe. Worldwide government agencies contributed a significant share in revenues coming from mobile satellite communication industry in 2014 as well.
Being a niche market, a handful of players such as Inmarsat, Iridium, EchoStar, ORBCOMM, Globalstar, etc. marked their presence in the industry globally. Developed countries of North America and Europe remained the major revenue generating market for these services. However, growing demand for data and voice services across various end user segments, primarily maritime and aviation segments, continued to offer growth opportunities in the market.
"A series of passenger aircraft mishaps that occurred in 2014 such as MH 370 and QZ8501 have induced the need of more robust mobile satellite communication services in the aviation sector. This indicates a huge growth potential for mobile satellite service providers to tap growth in this sector besides maritime sector" said Mr. Karan Chechi, Research Director of the global management consulting firm TechSci Research. "The expectation of passengers on board for in-flight connectivity, live videos, social media access etc., also offers an opportunity for mobile satellite service providers to maximize their revenues from the aviation industry", added Mr. Chechi.
Without doubt, the report evaluated the future growth potential of mobile satellite services across the globe well and provides statistics and information on market structure, size, trends, etc., besides including mobile satellite service market projections and demand forecasting. Last but not least, the report intends to provide cutting-edge market intelligence to help decision makers make sound investment decisions and to identify and analyze the emerging trends along with essential drivers, challenges and opportunities prevailing in mobile satellite service market.