Press release
Mobile Satellite Services Market - Demand for Strong Communication Channels to Support Technological Advancements Boosts Growth
In 2017, the global mobile satellite services market was valued at US$3942.3 mn. Rising at a healthy 7.4% CAGR between 2017 and 2025, the global market is likely to reach US$6955.3 mn by the end of 2025. Holding nearly 66.2% of the market based on service type, the data segment emerged dominant in 2016. Its dominance is expected to remain sealed through the aforementioned forecast period.Obtain Brochure For Latest Technology Advancements@ https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=11570
These days it is just a matter of time before a newly evolved technology translates into an ongoing trend. For instance, bring your own device practices are adopted globally. However, for its successful implementation, it requires support from a strong communication channel, which is fulfilled by mobile satellite services.
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Similar technological advancements have chalked the convergence of terrestrial mobile phones and satellites, which experts have identified one of the primary factors enabling growth in the global mobile satellite services market. Given the scenario, starting from the Internet of Things, autonomous driving, and public safety to augmented reality in video games.
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Regionally, North America accounted for the dominant share of 34.7% in the global mobile satellite services market in 2016. However, during the course of the forecast period South America is likely to show the fastest CAGR. Besides this, promising growth is expected in Asia Pacific, as countries such as Australia, Japan, and China exhibit high demand for mobile satellite services.
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