Mobile Satellite Services Market by Services and Access Type Expected to Reach $5.62 Billion by 2019 – New Report by MarketsandMarkets
(PRWEB) November 20, 2014 -- The research report "Mobile Satellite Services Market by Services (Video, Voice, Data, Tracking and Monitoring Services), by Access Type (Land Mobile, Maritime, Aeronautical) - Worldwide Market Forecasts and Analysis (2014 - 2019)", defines and segments the global Mobile Satellite Services market into various sub-segments with an in-depth analysis and forecasting of market sizes. The report also identifies the factors driving the market, various restraints, and opportunities affecting it, along with the adoption trends.
Browse 75 market data tables and 44 figures spread through 150 pages and in-depth TOC on "Mobile Satellite Services Market"
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MarketsandMarkets broadly segments the global Mobile Satellite Services market by region: North America (NA), Asia-Pacific (APAC), Europe (EU), Middle East and Africa (MEA), and Latin America (LA); by service: video, voice, data, and tracking and monitoring; by access type: land mobile, maritime, and aeronautical; by industry verticals as oil and gas, media and entertainment, mining, military and defense, aviation, transportation, and others.
MarketsandMarkets forecasts the global Mobile Satellite Services Market to grow from $3.45 billion in 2014 to $5.62 billion in 2019, at a Compound Annual Growth Rate (CAGR) of 10.2% during the forecast period. North America is expected to be the largest market in terms of market size, while Europe and Asia-Pacific are expected to experience an increase in market traction during the forecast period.
Mobile Satellite Service is on the rise, with a huge surge of interest in mobile communications and high-paced developments in devices and applications. In recent years, mobile-broadband circulation has increased exponentially with improved developments in network technology. The massive implementation of Mobile Satellite Services has been beneficial for mobile operators that plan to serve unconnected remote areas in order to increase their subscriber base.
The biggest challenge for the Mobile Satellite Services market is the increasing regulation and the heightened competition from the traditional mobile value chain, which makes it difficult for operators to offer traditional voice and data services. However, today, satellite operators are no longer the only entity dominating the satellite communication market. Data services are particularly gaining traction for remote locations, since several vertical markets are very suitable for mobile services, including transport, mining, and media.
The major factors driving this market are the emerging advancements in digital technology, increasing demand for mobility, rising integration demands of satellite and terrestrial mobile technology, and increasing focus of data applications and services.
Policy and regulatory issues are one of the restraints for satellite operators along with the congestion of frequency bands and orbits. Hence, improved frequency spectrum will prove to be more beneficial and will enable the satellite operators to seize this opportunity by providing simpler services to end users. Indispensable requirement in key potential markets and reliability in quality of services are another opportunity for organizations and small business units. Mobile Satellite Services mainly focuses on offering voice and data services to mobile users that are situated in remote locations. Some of the benefits that Mobile Satellite Services offer to government organizations include all forms of communications ranging from simple voice and data to bandwidth exhaustive multimedia applications.
Additionally, the benefits for the satellite communications industry are numerous. For the end users, Mobile Satellite Services uses communication satellites that cover all terrestrial masses and are estimated to grow their volume by serving maritime and aeronautical markets.
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