At the end of 2020, Inmarsat had 1.2m satellite IoT subscribers, whereas Iridium and Globalstar had 1.1m and 0.4m subscribers respectively.
The Middle East and Asia have less penetration of high definition channels, which is anticipated to increase in the future.
The normalised adjusted EBITDA margin improved from 60.4% in H1 2020 to 60.9% in H1 2021.
Government policies around Saudi Vision 2030 and National Digital Transformation are expected to further boost this sector.
As of mid-2020, 5G subscriptions in the Gulf countries had already passed 500,000.
On a sectoral basis, satellite services accounted for the highest EBITDA ($175.22m), followed by cable ($99.01m) and IT services ($28.09m).
LEO systems' arrival will benefit underserved users in remote areas by supporting high-speed, low latency broadband service.
According to the research, 43m people were connected to broadband via satellite, and this number is expected to grow to 110m in 2029.
The major factors that propel the small satellite market are low cost, lightweight, and increased applications of small satellites across diverse sectors.