Satellite telephone market size worldwide 2021-2027

The size of the global satellite telephone market is forecast to increase between 2021 and 2027. In 2021, the size of this market amounted to roughly 192 million U.S. dollars and by 2027 is expected to reach a value of 363.8 million U.S. dollars, growing at a CAGR of 11.2 percent.

Satellite phones

Satellite phones are mobile communication devices that provide service even in locations where traditional mobile phones are unable to do so. The reason is that satellite phones receive and transmit signals from satellites based in space and not from cell towers on land. Companies like Elon Musk’s Starlink and Texas-based AST SpaceMobile are working on improving this technology to reduce coverage gaps in poorer and remote areas. Popular brands of satellite phones are Garmin, Thuraya, and Iridium.

Smatphones

Nowadays smartphones are the most popular mobile phones, with the smartphone market size forecast to reach roughly 482 billion U.S. dollars in 2023. Indeed, most people now own or have access to a smartphone, with the number of global smartphone users expected to once again exceed five billion in the same year. Samsung, Apple, and Xiaomi are among the most popular smartphone brands, with Samsung being the market leader with a smartphone market share of over 20 percent.