All updated as on -
From 2024–2031, the satellite IoT market is projected to expand from $1.11 billion in 2023 to $2.39 billion, a compound annual growth rate (CAGR) of 22.9%. The defense industry is a major force propelling the satellite IoT market with their growing need for border protection, communication in remote desert regions, and access to real-time data and imagery.
Modern, low-orbiting satellites have recently attracted investments totaling billions of dollars. These low-Earth orbiting satellites improve communication to previously inaccessible areas. The market for satellite IoT is being propelled by factors such as the increasing need for services based in low-Earth orbit (LEO), the accessibility of capital, the proliferation of governments in industrialized nations, and the desire for affordable internet among consumers in less developed nations. Investments in low Earth orbit constellations based on smallsats are motivated by these market drivers.
The demand for satellite broadband capacity is expected to reach over three terabits of bandwidth by 2024, with small and larger satellites in Geo-synchronous Earth Orbit (GEO), Medium Earth Orbit (MEO), and Low Earth Orbit (LEO) orbits meeting this demand. However, if operational, the proposed LEO constellations could deliver nearly ten times as much bandwidth. Consequently, this could cause some LEO constellations to malfunction or not deploy fully. In the event that this were to happen, it would be reminiscent of the dot-com boom of the 1990s, when numerous businesses went down but left behind numerous strong institutions, infrastructure, and skilled workers.
One of the key challenges limiting the market's growth is the high cost of establishing and maintaining earth station infrastructure. Custom fabrication or buying from commercial off-the-shelf (COTS) vendors usually accounts for the majority of the necessary components. The research and development, production, integration, and assembly phases of these systems' value chains also necessitate substantial investments.
Additionally, extremely complex defense systems rely on satellite IoT services, making any system failure a major setback. They need to be long-lasting, energy-efficient, and dependable in addition to having a broad detection range and excellent accuracy. Consequently, businesses in this industry need to build extremely efficient and practical ground facilities if they want to keep their market leadership and survival. This means partnering with educational institutions and other businesses, as well as investing heavily in testing and infrastructure.
Modern low-Earth orbital (LEO) satellites make use of the Ka-band and V-band spectrum because these bands offer better security, narrower beams, fewer antennas, and faster data speeds. A larger capacity for LEO constellations is now possible thanks to improvements in spectrum utilization, active antennas, and processing, all of which have led to higher data and information transfers per satellite. New analytics tools, along with faster computers and AI-powered algorithms, have cut down on operational expenses and reaction times.
There has been a global uptick in the number of reported cybersecurity breaches in recent years. Because of the interconnected nature of the many devices, platforms, and networks involved in the implementation of IoT systems and 5G networks, security has emerged as the top technological worry for the majority of enterprises. Given the size, scope, and quantity of earth station access points, the same holds true for satellites. With the development of the Internet of Things (IoT), a malicious actor can compromise an entire network of linked devices just by manipulating one unencrypted device or connection. All parts of the data transmission process, not only the devices themselves, must be secure.
Report Coverage
Global Satellite loT research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Satellite loT report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Satellite loT competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Satellite loT market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Satellite loT market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Satellite loT market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Orbcomm (US), Iridium Communication (US), Globalstar (US), Astrocast (Switzerland), Inmarsat Global (UK), Airbus (Netherlands), Intelsat (US), Thales (France), Eutelsat (France), Northrop Grumman (US), Thuraya (Singapore), Vodafone (UK), Surrey Satellite Technology (UK), Head Aerospace (China), I.M.T. SRL (Italy), Fleetspace Technologies (Australia), Swarm Technologies (US), Alenspace (Spain), OQ Technology (Luxembourg), Fossa Systems (Spain), Kepler Communications (Canada), Sateliot (Spain), Myriota (Australia), Kineis (France), and Nanoavionics (Lithuania).
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2031. INFINITIVE DATA EXPERT has segmented the global Satellite loT market based on the below-mentioned segments:
Global Satellite loT Market, By Service Type
Satellite IoT Backhaul
Direct-to-Satellite
Global Satellite loT market, By Frequency Band
L-Band
Ku-and Ka-Band
S-Band
Other Bands
Global Satellite loT Market, By Vertical
Maritime
Oil & Gas
Transportation & Logistics
Energy & Utilities
Agriculture
Healthcare
Military & Defense
Other Verticals
Global Satellite loT market, Regional Analysis
Modern, low-orbiting satellites have recently attracted investments totaling billions of dollars. These low-Earth orbiting satellites improve communication to previously inaccessible areas. The market for satellite IoT is being propelled by factors such as the increasing need for services based in low-Earth orbit (LEO), the accessibility of capital, the proliferation of governments in industrialized nations, and the desire for affordable internet among consumers in less developed nations. Investments in low Earth orbit constellations based on smallsats are motivated by these market drivers.
The demand for satellite broadband capacity is expected to reach over three terabits of bandwidth by 2024, with small and larger satellites in Geo-synchronous Earth Orbit (GEO), Medium Earth Orbit (MEO), and Low Earth Orbit (LEO) orbits meeting this demand. However, if operational, the proposed LEO constellations could deliver nearly ten times as much bandwidth. Consequently, this could cause some LEO constellations to malfunction or not deploy fully. In the event that this were to happen, it would be reminiscent of the dot-com boom of the 1990s, when numerous businesses went down but left behind numerous strong institutions, infrastructure, and skilled workers.
One of the key challenges limiting the market's growth is the high cost of establishing and maintaining earth station infrastructure. Custom fabrication or buying from commercial off-the-shelf (COTS) vendors usually accounts for the majority of the necessary components. The research and development, production, integration, and assembly phases of these systems' value chains also necessitate substantial investments.
Additionally, extremely complex defense systems rely on satellite IoT services, making any system failure a major setback. They need to be long-lasting, energy-efficient, and dependable in addition to having a broad detection range and excellent accuracy. Consequently, businesses in this industry need to build extremely efficient and practical ground facilities if they want to keep their market leadership and survival. This means partnering with educational institutions and other businesses, as well as investing heavily in testing and infrastructure.
Modern low-Earth orbital (LEO) satellites make use of the Ka-band and V-band spectrum because these bands offer better security, narrower beams, fewer antennas, and faster data speeds. A larger capacity for LEO constellations is now possible thanks to improvements in spectrum utilization, active antennas, and processing, all of which have led to higher data and information transfers per satellite. New analytics tools, along with faster computers and AI-powered algorithms, have cut down on operational expenses and reaction times.
There has been a global uptick in the number of reported cybersecurity breaches in recent years. Because of the interconnected nature of the many devices, platforms, and networks involved in the implementation of IoT systems and 5G networks, security has emerged as the top technological worry for the majority of enterprises. Given the size, scope, and quantity of earth station access points, the same holds true for satellites. With the development of the Internet of Things (IoT), a malicious actor can compromise an entire network of linked devices just by manipulating one unencrypted device or connection. All parts of the data transmission process, not only the devices themselves, must be secure.
Report Coverage
Global Satellite loT research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Satellite loT report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Satellite loT competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Satellite loT market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2031 |
| Base Year | 2024 |
| Forecast Period | 2024-2031 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | Orbcomm (US), Iridium Communication (US), Globalstar (US), Astrocast (Switzerland), Inmarsat Global (UK), Airbus (Netherlands), Intelsat (US), Thales (France), Eutelsat (France), Northrop Grumman (US), Thuraya (Singapore), Vodafone (UK), Surrey Satellite Technology (UK), Head Aerospace (China), I.M.T. SRL (Italy), Fleetspace Technologies (Australia), Swarm Technologies (US), Alenspace (Spain), OQ Technology (Luxembourg), Fossa Systems (Spain), Kepler Communications (Canada), Sateliot (Spain), Myriota (Australia), Kineis (France), and Nanoavionics (Lithuania). |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Satellite loT Market from 2021 to 2031.
- Market Forecast for Satellite loT Market from 2021 to 2031.
- Regional Market Share and Revenue from 2021 to 2031.
- Country Market share within region from 2021 to 2031.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Satellite loT competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Satellite loT
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Satellite loT market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Satellite loT market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Orbcomm (US), Iridium Communication (US), Globalstar (US), Astrocast (Switzerland), Inmarsat Global (UK), Airbus (Netherlands), Intelsat (US), Thales (France), Eutelsat (France), Northrop Grumman (US), Thuraya (Singapore), Vodafone (UK), Surrey Satellite Technology (UK), Head Aerospace (China), I.M.T. SRL (Italy), Fleetspace Technologies (Australia), Swarm Technologies (US), Alenspace (Spain), OQ Technology (Luxembourg), Fossa Systems (Spain), Kepler Communications (Canada), Sateliot (Spain), Myriota (Australia), Kineis (France), and Nanoavionics (Lithuania).
Primary Target Market
- Market Players of Satellite loT
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2031. INFINITIVE DATA EXPERT has segmented the global Satellite loT market based on the below-mentioned segments:
Global Satellite loT Market, By Service Type
Satellite IoT Backhaul
Direct-to-Satellite
Global Satellite loT market, By Frequency Band
L-Band
Ku-and Ka-Band
S-Band
Other Bands
Global Satellite loT Market, By Vertical
Maritime
Oil & Gas
Transportation & Logistics
Energy & Utilities
Agriculture
Healthcare
Military & Defense
Other Verticals
Global Satellite loT market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
About This Research
You will get in-depth and extensive satellite lot market market research and competitor analysis for your business to help you develop more profound insights into the satellite lot market Market.
Through INFINITIVE Data Expert is a professional Market Research services, I will identify the satellite lot market market size, demand & opportunities, growth rate, and target audience with a comprehensive analysis of your competitors.