GLOBAL MOBILE SATELLITE SERVICES (MSS) MARKET IS ANTICIPATED TO REACH US$ 8,052.6 MN BY 2027

 According to a new market research report published by Transparency Market Research entitled “Mobile Satellite Services (MSS) Market (By Access Type- Aeronautical MSS, Land MSS, Maritime MSS, Personal MSS and Broadcast MSS. By Service Type- Data Service and Voice Service. By End-use Industry- Oil & Gas, Media & Entertainment, Mining, Mining & Defense, Aviation, Government (Disaster Management), Transportation, Automotive and Others) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2020 – 2027,” the global Mobile Satellite Services (MSS) market is expected to reach US$  8,052.6 Mn by 2027. The market is anticipated to expand at a CAGR of 7.5% during the period from 2020 to 2027.

The global mobile satellite service market by service type was dominated by the data segment with a market share of 66.2% in 2016 and is expected to continue its dominance over the forecast period, owning to the factors such as increasing demand for high quality information with enhanced safety feature, which is fulfilled only by data services. Majority of the information is transferred in the form of data signals as it can be encrypted making it secure and impenetrable to loss. Moreover, aviation and maritime applications require high-quality data with enhanced security which is expected to boost the market over the forecast period.

In terms of access type, land MSS is found to be the largest market segment in 2016, due to extensive use of satellite communication for military, disaster management, and oil & gas explorations. While the broadcast MSS is expected to be the fastest growing market due to the innovation in the mobile satellite network that broadcast data and voice signals. Pages, travel advisories, and navigation data are sent through the broadcast channel. The growth of broadcast MSS can also be contributed to IoT trend currently ongoing in the market.

Get sample copy of “Mobile Satellite Services (MSS) Market” at:   https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=11570