BURNABY, Canada, March 23, 2015 /PRNewswire/ --
Growing need for vessel tracking and navigation, and geopolitical conflicts to stimulate the demand for mobile satellite services (MSS) globally through 2020
According to the recently published report 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 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. 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.
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. 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. 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.
"A series of passenger aircraft mishaps that occurred in 2014 such as MH 370 and QZ8501 are 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 with TechSci Research, a global management consulting firm. "The expectation of passengers on the 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.
"Global Mobile Satellite Services Market Forecast & Opportunities, 2020" has evaluated the future growth potential of mobile satellite services across the globe and provides statistics and information on market structure, size, trends, etc. The report includes mobile satellite service market projections and demand forecasting. The report is intended to provide cutting-edge market intelligence and help decision makers take sound investment decision. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities prevailing in mobile satellite service market.
About TechSci Research
TechSci Research is a global market research and consulting company with offices in Canada, UK and India. TechSci Research provides market research consulting services in six verticals - Information Technology, Chemicals, Water & Water Recycling, Consumer Goods & Retail, Automotive and Energy & Power. The company uses proprietary innovative business model that focuses on improved productivity that also ensure the creation of high-quality reports. With more than 100 client engagements with fortune 500 clients, TechSci Research enjoys the status of a premium market research services provider in the industry.
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