What is the global market size of Satellite IoT Market?

Global Satellite IoT Market size was valued at USD 1.1 Billion in 2022 and is poised to grow from USD 1.34 Billion in 2023 to USD 6.54 Billion by 2031, growing at a CAGR of 21.9% in the forecast period (2024-2031).

Who are the key vendors in the Global Satellite IoT Market?

satellite IoT market is characterized by intense competition driven by technological advancements, expanding use cases, and the growing demand for connectivity in remote and challenging environments Collaboration between satellite communications provider and IoT platform is the strategy followed by key players. For example, Inmarsat brings its extensive experience and infrastructure in satellite communications, enabling reliable and world-class connectivity, especially in remote and challenging areas that may not be accessible by terrestrial networks. By combining their strengths, Inmarsat and Actility aim to provide end-to-end solutions for various IoT use cases such as asset management, environmental monitoring, and industrial workflow automation and can be enabled for real-time monitoring, efficiency, and automation. 'Vodafone', 'Eutelsat', 'I.M.T. Srl', 'OQ Technology', 'Orbcomm', 'Intelsat', 'Globalstar', 'Northrop Grumman', 'Swarm Technologies', 'Immarsat Global', 'Fleet Space Technologies Pvt. Ltd.', 'Myriota Pty Ltd.', 'Astrocast', 'Airbus', 'Head Aerospace', 'Kepler Communications', 'Nanoavionics'

What is the key driver of Satellite IoT Market?

Satellite IoT is the integration of Internet of Things devices and services into satellite networks. IoT devices are small, low-power devices equipped with sensors and communication capabilities to collect data and communicate with other devices or systems. Satellite IoT market revenue strategies for growth internet of things (IoT) and machine-to-machine communications (M2M) was responsible. According to statistical analysis, more than 6,000 satellites orbit the earth. About 3,000 of them are in LEO and many of these satellites are owned by the same companies, allowing companies and government agencies to network together. Although most people are familiar with satellite applications such as GPS tracking and others. These technologies have simply been implemented satellite technologies have already proven to be credible in industrial IoT ecosystems, and as IoT develops, it will become a valuable resource for cities, communities, farms, and manufacturers.

What is the key market trend for Satellite IoT Market?

Increasing Technological Advances: Another LEO satellite saw the use of Ka-band and V-band spectrum while providing higher data rates, greater security, narrower beams and smaller antennas. Efficient antennas with better spectrum utilization increased the content/data transfer rate of each satellite, enabling LEO-constellation capabilities. Recent advances in analytics, combined with increasing computing power and AA based algorithms are helping to reduce operational costs and response times.

Satellite IoT Market Updates

Skyquest Technology's expert advisors continuously track and analyze the latest developments and updates related to satellite iot market. Our team of analysts stay abreast of all the recent news stories shaping the industry including new product launches by major companies, strategic partnerships, M&As, Patent filings and industry and regulatory developments.

Satellite IoT Market News

In July 2024, Azerbaijan's National Space Agency Azarkosmos collaborated with technology company Dynasys Networks, integrating its satellite network with the Dynasys IoT ecosystem in a move to streamline the IoT application process.
In January 2024, EMnify GmbH, a specialist in cloud-based IoT networks, announced the integration of this new cellular and satellite IoT network in a single emnify IoT eSIM, called SuperNetwork SatPlus, which it integrates in an emnify SuperNetwork.
In March 2023, Internet-based mobile network provider Monogoto partnered with terrestrial network services company Skylo Technologies to provide low-cost satellite links for asset management. This partnership aims to connect developers Monogoto Cloud via public and private networks together and enable satellite communications.

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FAQs

Satellite IoT Market size was valued at USD 1.63 Billion in 2023 and is poised to grow from USD 1.99 Billion in 2024 to USD 7.96 Billion by 2032, growing at a CAGR of 21.9% during the forecast period (2025-2032).

The global satellite IoT industry is highly competitive, with key players focusing on innovation, strategic partnerships, and expanding their service portfolios to cater to the growing demand for reliable, global IoT connectivity. The competitive landscape is characterized by collaboration between satellite operators, IoT solution providers and telecom companies, fostering a more dynamic and innovative ecosystem. Collaboration between satellite communications provider and IoT platform is the strategy followed by key players. '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)'

Technology Development in Satellite IoT Services and Wireless Technology: Satellite IoT is the integration of Internet of Things devices and applications with satellite networks. IoT devices are small, low-power devices equipped with sensors and connectivity capabilities to gather data and communicate with other devices or systems. The Internet of Things (IoT) and Machine-to-machine (M2M) communication are responsible factors for the growth of revenue strategies of the satellite IoT Market.

North America region is dominating in the market accounted for the highest revenue share of nearly 40% in 2023, driven by increased investment in technological infrastructure by both the public and private sectors. The region benefits from a strong ecosystem of tech innovators and startups focusing on integrating IoT with satellite communication to address the need for remote area connectivity and advanced defense and security systems. Furthermore, the growing demand for IoT applications in agriculture, logistics, and environmental monitoring propels market expansion. The U.S. is leading the market with its robust aerospace and defense sectors, driving demand for advanced satellite communications and IoT integration. Significant investments in R&D and a strong push for connectivity in remote and rural areas further bolster the market's growth.