New York, USA, June 23, 2021 (GLOBE NEWSWIRE) -- A recently published report by Research Dive states that the global mobile satellite phone market is expected to experience a rise in revenue from $3,820.0 million in 2019 to over $5,262.1 million by 2027 at steady revenue of 4.0% during the forecast period from 2019 to 2027.
Download Free Sample Report of the Global Mobile Satellite Phone Market: https://www.researchdive.com/download-sample/8353
Market Analysis
Mobile satellite phones are the most advanced technological advancements that are able to function in the most severe scenarios. These phones work using a direct signal link for communication satellites and can be easily used for military purposed such as to connect with troops over longer distances. They have also been useful during natural calamities such as earthquakes, tsunamis, floods, hurricanes, and more to ensure efficiency in search and rescue operations. These factors are expected to help in the growth of the market.
Check out How COVID-19 impacts the Global Mobile Satellite Phone Market: https://www.researchdive.com/connect-to-analyst/8353
On the flip side, many countries have regulations in place to control the usage of satellite phones while many others have completely banned them. There are also some standards that are fixed by the governments in the different brands of these phones which could further hamper the growth of the market.
Furthermore, the market has observed the introduction of satellite phones that are as compact as the normal cellphones. Additionally, many key players are further working to add more features to the phones. These factors are predicted to help the market grow further in the forecast period.
Check out all Information and communication technology & media Industry Reports: https://www.researchdive.com/information-and-communication-technology-and-media
COVID-19 Impact on the Industry
The global mobile satellite phone market is estimated to witness moderate growth during the COVID-19 pandemic. The pandemic has impacted various industries across the globe, which has resulted in disruption of supply chains and closing down of factories. But, to mitigate the effect of the pandemic on the global market, several market players are focusing on strategies such as product developments and strategic alliances.
Segmental Analysis
GEO Sub-segment Predicted to Dominate the Market
By type, the GEO sub-segment is predicted to experience a rise in revenue from $2,583.9 million in 2019 to over $3,453.9 million by 2027. The GEO satellites play a dominant role in sending and receiving signals due to their higher altitude. This assists in providing a larger area for the satellite to scan and send the results back to the earth. It doesn’t need any adjustments in terms of direction but can still cover larger areas. This is expected to help in the growth of the segment.
Access Varied Market Reports Bearing Extensive Analysis of the Market Situation, Updated With The Impact of COVID-19: https://www.researchdive.com/covid-19-insights
Maritime Sub-segment to Hold Highest Market Share
By end use, the maritime sub-segment is set to witness an increase in the revenue from $952.9 million in 2019 and expected to reach up to $1,280.4 million by 2027 at a steady CAGR of 3.7%. The maritime sector constantly faces challenges due to their geographical location under water. This lack of network connectivity pushed the production and use of the mobile satellite phones in critical moments such as rescue operations. This has ensured the rapid growth of the segment.
Regional Analysis
The North America region is predicted to witness a significant rise in revenue from $1,257.2 million in 2019 to over $1,621.2 million by 2027. This growth is primarily due to the constant investment on behalf of the key players to ensure further developments of the phones. The innovations will provide better connectivity to multi-orbit satellite fleets which will be beneficial for the regional market growth.
Key Players of the Market
The report contains a list of notable market players who have been ensuring the constant growth of the market. They are as listed below:
1. Globalstar
2. Inamrsat
3. Thuraya Telecommunications
4. Intelsat
5. PKI Electronic Intelligence GmbH
6. Erricson
7. Iridium Communications, Inc
8. EchoStar Corporation
9. AT&T
10. Telstra
For instance, in January 2019, Iridium Communications, a pioneer in global communications launched over 10 satellites via the SpaceX Falcon9 rocket. These satellites were then sent on an orbit testing routine. The satellites are predicted to further boost network connectivity all over the world.
The report also discusses the other important aspects of the market including financial performance of the key players, product portfolio, recent strategic developments,and SWOT analysis. Click Here to Get Absolute Top Companies Development Strategies Summary Report.
TRENDING REPORTS WITH COVID-19 IMPACT ANALYSIS
Advanced Persistent Threat (APT) Protection Market https://www.researchdive.com/8335/advanced-persistent-threat-apt-protection-market
Network Slicing Market https://www.researchdive.com/5670/network-slicing-market
Signal Intelligence (SIGINT) Market https://www.researchdive.com/5478/signals-intelligence-sigint-market
Mobile Value-added Services Market https://www.researchdive.com/5055/mobile-value-added-services-(mvas)-market
Threat Intelligence Security Solutions Market https://www.researchdive.com/8355/threat-intelligence-security-solutions-market