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Mobile Satellite Services Market Trends

Report ID: GMI9558
Published Date: May 2024
Report Format: PDF

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Mobile Satellite Services Market Trends

Innovative pricing models are emerging in the market, offering flexible options such as pay-as-you-go and subscription-based plans. These pricing strategies cater to diverse user needs and budgets, driving greater accessibility and affordability of satellite connectivity solutions across various industries and regions. For instance, in May 2024, AT&T finalized a definitive commercial agreement with AST SpaceMobile to deliver satellite-based broadband connectivity directly to smartphones by 2030. AST SpaceMobile intends to deploy its initial five commercial BlueBird satellites from Cape Canaveral, a move that will play a pivotal role in facilitating the commercial service.

The partnership challenges similar deals between SpaceX and T-Mobile, as well as other satellite operators, such as Iridium, Viasat, and Omnispace, that are working to connect smartphones from space. With the FCC establishing a framework to enable such services, the future of communications may see satellite technology merge with terrestrial networks to provide ubiquitous connectivity.

Satellite constellation deployments are growing in the mobile satellite services market, with a focus on expanding coverage and capacity. Companies are launching constellations of smaller satellites, particularly in Low Earth Orbit (LEO), to enhance global connectivity and reduce latency. This growth is driven by the need to meet the growing demand for data-intensive applications, such as high-speed internet access and IoT connectivity, while also improving network reliability and resilience against disruptions caused by atmospheric conditions or equipment failures.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

Industry size for mobile satellite services was worth USD 4.8 billion in 2023 and is projected to expand at over 6% CAGR from 2024 to 2032, owing to the continuous advancements in satellite technology.

The data services segment in the mobile satellite services industry accounted for 28% revenue share in 2023 and is projected to expand at substantial rate from 2024 to 2032, due to the increasing demand for bandwidth-intensive applications like video streaming, large file transfers, and real-time data analytics.

The portable/hand-held terminals platform segment in the mobile satellite services industry accounted for 40% share in 2023 and is estimated to witness robust growth between 2024 and 2032, owing to the increasing trend of miniaturization and enhanced functionality.

North America industry recorded over 32% revenue share in 2023 and is estimated to depict significant growth between 2024 to 2032, owing to their increased adoption in government and defense sectors.