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Satellite Device Services Market Status (2016-2020) and Forecast Market Analysis, Regional Outlook, Segment Growth Potential, and Competitive Market Share Analysis, 2021-2027

Format: PDF | Pages: 302 | Report ID: MRS1094


Report Description

The global satellite device services market size was valued at USD 4,335.6 Million in 2020 and is projected to reach USD 5,900.6 Million by 2027 growing at a CAGR of 6.2% from 2021 to 2027.

The primary factors, driving the worldwide satellite device services market growth, are technological advancements and continuous innovations in the testing methods used for drug screening and testing, and rigorous investments by major market players in research activities.

Market Dynamics

The satellite device services market is predicted to witness prospering growth during the analysis period. The increasing usage of satellite communication services for the internet of things (IoT) and in the disaster management areas are the factors expected to propel the satellite device services market growth in the predicted timeframe. Satellite device services can find space for a wide range of applications, including weather prediction, telecommunication, navigation, space exploration, and military intelligence. In addition, expanding 5G mobile networks with the next-generation capabilities of satellite helps the satellite device operators in playing an important role in the emerging 5G ecosystem. However, irregular changes in policies & regulations, and the vehicles for small satellites may hamper the satellite device services market growth in the near future.

Regional Overview

The North America region is cited as the prime contributor of the global satellite device services market growth, owing to the increased technological advancements and usage of modern communication technologies in the region. The end-users with increased usage of satellite data services in the North American region primarily include government agencies, space research organizations, military authorities, maritime authorities and the aviation sector. Moreover, rapid growth in infrastructure connectivity and issuance of command & instructions have been instrumental in this region, which is predicted to boost the regional market growth by 2027.

Segment Overview

The global satellite device services market can be segmented based on service type, application, and industry vertical. Based on service type, the voice segment is predicted to witness significant growth in the estimated timeframe. Based on application, the maritime segment is expected to observe robust growth. Based on industry vertical, the military & defense segment is expected to be most profitable during the forecast period.

Competitive Landscape

The Mobile Satellite Services market is a very competitive market structure comprising several prominent players vying for a majority stake in the market. The major players who dominate the market segment are looking for opportunities to expand and scale up their business to further their motive of incorporating newer technologies and thereby improving customer orientation and acquiring newer segments of consumers. Strategic decisions based on collusive agreements between different market players are leading to the formation of business cartels that are making the decisions on behalf of the existing market players. The major market players are also acquiring startups to improve product diversification and market outreach.

Company Coverage (Company Profile, Sales Revenue, Price, Gross Margin, Main Products, etc.):

  • Ericsson Inc.
  • Globalstar, Inc.
  • Inmarsat Holdings Limited.
  • Iridium Communications, Inc.
  • Orbcomm Inc.
  • Echostar Corporation
  • Intelsat General Corporation
  • Singtel Ltd.
  • ViraSat Inc.
  • Telstra Corporation Limited
  • Intersputnik
  • PCCW Global
  • MEASAT
  • SES S.A.
  • Eutelsat Communications SA
  • China Satellite Communications Co., Ltd.

Service Type Coverage (Market Size & Forecast, Main Consumer Analysis, etc.):

  • Voice Service
  • Video Service
  • Data Service

Application Coverage (Market Size & Forecast, Main Consumer Analysis, etc.):

  • Air
  • Land
  • Maritime

Industry Vertical Coverage (Market Size & Forecast, Main Consumer Analysis, etc.):

  • Media & Entertainment
  • Oil & Gas
  • Mining
  • Aviation
  • Military & Defense
  • Transportation
  • Others

Region Coverage (Regional Consumption, Demand & Forecast by Countries, etc.):

  • North America (U.S., and Canada)
  • Europe (Germany, U.K., France, Italy, Spain, etc.)
  • Asia-Pacific (China, India, Japan, Indonesia, Malaysia, Australia, South Korea, etc.)
  • South America (Brazil, Mexico, Argentina, etc.)
  • Middle East & Africa (Saudi Arabia, Kuwait, UAE, South Africa, etc.)

Frequently Asked Questions

The global satellite device services market size was valued at USD 4,335.6 Million in 2020 and is projected to reach USD 5,900.6 Million by 2027 growing at a CAGR of 6.2% from 2021 to 2027.
North America captured the highest revenue in 2021 and is projected to continue its dominance during the study period.
The global satellite device services market size is growing at a CAGR of 6.2% from 2021 to 2027.
Asia Pacific (especially China, and India) region is projected to grow at the fastest growth rate during the study period.
The Satellite Services market is a very competitive market structure comprising several prominent players vying for a majority stake in the market. The major players who dominate the market segment are looking for opportunities to expand and scale up their business to further their motive of incorporating newer technologies and thereby improving customer orientation and acquiring newer segments of consumers. Strategic decisions based on collusive agreements between different market players are leading to the formation of business cartels that are making the decisions on behalf of the existing market players. The major market players are also acquiring startups to improve product diversification and market outreach.

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