Satellite IoT Market By Service Type (Direct-to-Satellite, Satellite IoT Backhaul), By Frequency Band (L-Band, Ku and Ka-Band, S-Band, Others), By Enterprise Size (Large Enterprise, Small and Medium-sized Enterprise), By Industry Vertical (Oil and Gas, Transportation and Logistics, Energy and Utilities, Agriculture, Maritime, Healthcare, Military and Defense, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032
Satellite IoT refers to the use of satellite communication networks and services to connect terrestrial IoT sensors and IoT end-nodes to a server, either in conjunction with or as an alternative to terrestrial communication networks. Satellite IoT because there is no need to keep terrestrial and satellite communication options separate, consumers and industrial users can take advantage of a reduction in running costs. Modern businesses and organizations rely on IoT to enable millions of intelligent data conversations, helping them track, monitor and manage assets; ensure the safety of their workers, and improve remote operations. For many business operations, IoT technology offers critical elements of the economy, such as the global supply chain, which can be managed remotely. For instance, trucks carrying perishable goods can be monitored in real time, merchant ships can be piloted from the safety of the shore, and this can be made possible by some form of connectivity. But since cellular coverage only reaches approximately 15% of the planet, technology developers have had to find ways to extend their reach beyond the limits of terrestrial infrastructure. This need led more companies to look to satellite communications to create coverage continuity, and as a result, satellite IoT has emerged as a new category of option to solve issues. Such factors are expected to provide lucrative growth opportunities for the market during the forecast period.
Factors such as growth in digitalization and increase in adoption of advanced technologies are positively impacting the growth of the market. In addition, the increase in adoption of satellite IoT in various industries such as utilities, maritime, defense & military, among others to enhance productivity, are expected to fuel the growth of the market. Furthermore, the increase in investments in advanced technologies such as AI, ML, cloud-based services and IoT is expected to provide lucrative growth opportunities for the market during the forecast period. Moreover, integration of satellite with mainstream technologies for business intelligence positively impacts the growth of the market. However, the high cost of technologies and regulatory issues and lack of comprehensive government policies regarding satellite IoT are expected to hamper the market growth. Furthermore, rise in adoption of cloud-based solution and increase in application of augmented reality (AR) & virtual reality (VR) technologies in information system are expected to offer remunerative opportunities for the expansion of the global market during the forecast period.
On the basis of enterprise size, the large enterprise segment dominated the satellite IoT market size in 2022 and is expected to continue this trend during the forecast period. The surge in adoption of satellite IoT in large businesses opens numerous opportunities for the market growth. However, the small and medium-sized enterprise segment is expected to experience the fastest growth in the coming years. Factors such as surge in digitalization and increase in government initiatives through various digital small and medium-sized enterprise campaigns throughout the world fuel the growth of the market.
By region, North America dominated the satellite IoT market share in 2022 for the satellite IoT market. The increasing investment in advanced technologies such as cloud-based services, AI/ML, business analytics solution and IoT to improve businesses and the customer experience are anticipated to propel the growth of the satellite IoT market. However, Asia-Pacific is expected to exhibit the highest growth during the forecast period. This is attributed to the increase in penetration of digitalization and higher adoption of advanced technology are expected to provide lucrative growth opportunities for the market in this region.The satellite IoT market is segmented into service type, frequency band, enterprise size, industry vertical, and region. By service type, it is bifurcated into Direct-to-Satellite and Satellite IoT Backhaul. By frequency band, it is divided into L-Band, Ku and Ka Band, S-Band and Others. By enterprise size, the market is segregated into small & medium-sized enterprises and large enterprises. By industry vertical, the market is classified into oil and gas, transportation and logistics, energy and utilities, agriculture, maritime, healthcare, military and defense and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The global satellite IoT industry is dominated by key players such as ORBCOMM, Iridium Communications Inc., Inmarsat Global Limited, Airbus, Astrocast, Intelsat, Globalstar, Thales, OQ Technology, and Eutelsat Communications S.A.. These players have adopted various strategies to increase their market penetration and strengthen their position in satellite IoT industry.
Key Benefits For StakeholdersThis report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the satellite iot market analysis from 2022 to 2032 to identify the prevailing satellite iot market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the satellite iot market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global satellite iot market trends, key players, market segments, application areas, and market growth strategies.
Key Market SegmentsBy Service TypeDirect-to-Satellite
Satellite IoT Backhaul
By Frequency BandL-Band
Ku and Ka-Band
S-Band
Others
By Enterprise SizeLarge Enterprise
Small and Medium-sized Enterprise
By Industry VerticalOil and Gas
Transportation and Logistics
Energy and Utilities
Agriculture
Maritime
Healthcare
Military and Defense
Others
By RegionNorth America
U.S.
Canada
Europe
UK
Germany
France
Italy
Russia
Rest of Europe
Asia-Pacific
China
India
Japan
Australia
South Korea
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Key Market Players
Airbus
Astrocast
Eutelsat Communications S.A.
Globalstar
INMARSAT GLOBAL LIMITED
Intelsat
Iridium Communications Inc.
OQ Technology
ORBCOMM
Thales
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