Mobile Satellite Services to Post 7.52% CAGR Growth Until 2023
Dublin, Ireland, Oct. 20, 2018 — The Mobile Satellite Services market is expected to register a CAGR of over 7.52% during the forecast period 2018 - 2023. According to the new publication of Research and Markets, which profiles the Data Service, Voice Service providers of Mobile Satellite Services software, and service for various industries, 5G mobile networks with next-generation satellite capabilities will help the satellite operators become a major player in the emerging 5G ecosystem.
In the last few years, 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.
Markets and Research said 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.
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.
Europe to Appear as one of the Leading Region in the Mobile Satellite Services Market
Europe is holding the largest market share Mobile Satellite Services Market due to presence of large software providers, more number of consumers are using satellite communication devices in this region. Also, the joint venture of European Commission and European ICT industry to provide the 5G Infrastructure Public Private Partnership (5G PPP), which will deliver solutions, architectures, technologies and standards for the ubiquitous next generation communication infrastructures of the coming decade. As the demand for the Mobile Satellite Services Market is directly related to the investment of telecommunications operator, the more investment done by the telecommunications operator around the Europe region, higher is the demand for Mobile Satellite Services Market.
Among the key developments in the market:
- Jun 2018: EchoStar Mobile, a subsidiary of EchoStar Corporation has launched new EchoStar XXI mobile satellite. This will create an opportunity for the EchoStar Mobile to provide its advanced network for data and voice services in Europe.
- Sep 2017: Globalstar has done a partnership with IPmotion to launch Mobile Satellite Service in Japan. This partnership will offer a suite of mobile satellite products and services with, asset monitoring, tracking, voice, data and emergency S.O.S. capabilities for the different end users.
