Satellite IoT Market by Service Type, Frequency Band, Organization Size, Sector (Military & Defense, Agriculture, Construction, Oil & Gas, Utilities, Transportation & Logistics, Maritime) - Global Forecast to 2030

Satellite IoT Market by Service Type, Frequency Band, Organization Size, Sector (Military & Defense, Agriculture, Construction, Oil & Gas, Utilities, Transportation & Logistics, Maritime) - Global Forecast to 2030

The research report titled, “Satellite IoT Market by Service Type, Frequency Band, Organization Size, Sector (Military & Defense, Agriculture, Construction, Oil & Gas, Utilities, Transportation & Logistics, Maritime)—Global Forecast to 2030”, provides an in-depth analysis of satellite IoT market in five major geographies and emphasizes on the current market trends, market sizes, market shares, recent developments, and forecasts till 2030.

The global satellite IoT market is projected to reach USD 2.1 billion by 2030, at a CAGR of 18.2% during the forecast period of 2023–2030. The growth of the satellite IoT market is driven by the rising demand for interconnectivity between devices in remote areas and the increasing use of satellite IoT technology in the agriculture industry. However, the high costs of implementing satellite IoT solutions restrain the growth of this market. Additionally, the growing use of satellite IoT technology in maritime applications is expected to generate growth opportunities for the players in this market. However, satellite IoT devices’ vulnerability to cyberattacks is a major challenge for market growth.The study offers a comprehensive analysis of the global satellite IoT market by service type, frequency band, organization size, sector, and geography.

The global satellite IoT market is segmented by service type (backhaul services and direct-to-satellite services), frequency bands (L band, Ku band, Ka band, and other frequency bands), organization size (large enterprises and small & medium-sized enterprises), sector (agriculture [environmental and weather monitoring, equipment tracking, and other applications], construction [site monitoring, fleet management, and other applications], utilities [remote monitoring, worker safety and security, and other applications], oil & gas [remote monitoring, worker safety and security, and other applications], military & defense [border intrusion and detection, aircraft safety systems and telematics, and other applications], transportation & logistics [telematics, location tracking, and other applications], maritime [communication and navigation, weather and meteorological data, and other applications], and other sectors), and geography. The study also evaluates industry competitors and analyzes the market at regional and country levels.

Based on service type, the global satellite IoT market is segmented into satellite IoT backhaul service and direct-to-satellite service. In 2023, the direct-to-satellite service segment is expected to account for the larger share of the global satellite IoT market. The large market share of this segment is attributed to the rising demand for direct-to-satellite IoT services for tracking and managing remote operations and the growing demand for direct-to-satellite services in smart agriculture and marine applications. Moreover, this segment is projected to register the highest CAGR during the forecast period.

Based on organization size, the global satellite IoT market is segmented into small & medium-sized enterprises and large enterprises. In 2023, the large enterprises segment is expected to account for the larger share of the global satellite IoT market. The large market share of this segment is attributed to the increasing adoption of satellite IoT technology among large enterprises to reduce their operational costs and environmental footprint, the growing use of satellite IoT for remote sensing and navigation, maritime and transport management, and the rising need to reduce on-site maintenance and inspections. However, the small & medium-sized enterprises segment is expected to register the highest CAGR during the forecast period.

Based on sector, the global satellite IoT market is segmented into agriculture, construction, utilities, oil & gas, military & defense, transportation & logistics, maritime, and other sectors. In 2023, the military & defense segment is expected to account for the largest share of the global satellite IoT market. The large market share of this segment is attributed to the rising need for enhanced connectivity in remote and harsh environments, the growing need for improved situational awareness in military & defense, and the increasing deployments of satellite IoT services across the military & defense sector. Satellite IoT is making a significant impact in the military sector by utilizing sensors and devices that enhance situational awareness, streamline complex procedures, and ultimately improve the success rate of defense operations. However, the agriculture segment is projected to register the highest CAGR during the forecast period.

Based on geography, the global satellite IoT market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2023, North America is expected to account for the largest share of the global satellite IoT market. North America’s large market share is attributed to the presence of leading satellite IoT providers across the region, efforts by leading companies to launch new satellite IoT solutions, and the increasing adoption of satellite IoT in precision farming and smart greenhouses. However, Asia-Pacific is expected to register the highest CAGR during the forecast period.

The key players operating in the global satellite IoT market are Iridium Communications Inc. (U.S.) Astrocast SA (Switzerland), Airbus SE (Netherlands), Globalstar, Inc. (U.S.), Thales (France), Eutelsat Communications S.A (Italy), Thuraya Telecommunications Company (UAE), Vodafone Group Plc (U.K.), Inmarsat Global Limited (U.K.), ORBCOMM Inc. (U.S.), Swarm Technologies Inc. (U.S.), Alén Space, S.L. (Spain), Fossa Systems, S.L. (Spain), SATELIO IOT SERVICES, S.L. (Spain), and OQ Technology (Luxembourg).

Key questions answered in the report-

Which are the high-growth market segments in terms of service type, frequency band, organization size, and sector?
What is the historical market for satellite IoT across the globe?
What are the market forecasts and estimates for 2023–2030?
What are the major drivers, restraints, opportunities, challenges, and trends in the global satellite IoT market?
Who are the major players in the global satellite IoT market, and what market share do they hold?
How is the competitive landscape?
What are the recent developments in the global satellite IoT market?
What strategies are adopted by the major players in the global satellite IoT market?
What are the geographical trends and high-growth countries?
Who are the local emerging players in the global satellite IoT market, and how do they compete with the other players?

Scope of the Report

Satellite IoT Market, by Service Type

Satellite IoT Backhaul Service
Direct-to-Satellite Service

Satellite IoT Market, by Frequency Band

L Band
Ku Band
Ka Band
Other Frequency Bands

Satellite IoT Market, by Organization Size

Large Enterprises
Small & Medium-sized Enterprises

Satellite IoT Market, by Sector

Agriculture
Environmental and Weather Monitoring
Equipment Tracking
Other Agricultural Applications
Construction
Site Monitoring
Fleet Management
Other Construction Applications
Utilities
Remote Monitoring
Worker Safety & Security
Other Utility Applications
Oil & Gas
Remote Monitoring
Worker Safety & Security
Other Oil & Gas Applications
Military & Defense
Border Intrusion and Detection
Aircraft Safety Systems and Telematics
Other Military & Defense Applications
Transportation & Logistics
Telematics
Location Tracking
Other Transportation & Logistics Applications
Maritime
Communication and Navigation
Weather and Meteorological Data
Other Maritime Applications
Other Sectors

Satellite IoT Market, by Geography

North America
U.S.
Canada
Asia-Pacific
Japan
China
India
South Korea
Singapore
Rest of Asia-Pacific
Europe
Germany
U.K.
France
Italy
Spain
Rest of Europe
Latin America
Brazil
Mexico
Rest of Latin America
Middle East & Africa
UAE
Israel
Rest of Middle East & Africa

Satellite IoT Market - Report Summary

Report Metrics	Details
Years Considered	2021 - 2030
Base Year	2022
Forecast Period	2023-2030
Page Count	368
Units Referenced	Value (USD Million)
Segments/Key Topics	Market by Service Type, Market by Frequency Band, Market by Organization Size, Market by Sector, Market by Geography
Regions Covered	North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa
Key Companies Mentioned	Iridium Communications Inc. (U.S.) Astrocast SA (Switzerland), Airbus SE (Netherlands), Globalstar, Inc. (U.S.), Thales (France), Eutelsat Communications S.A (Italy), Thuraya Telecommunications Company (UAE), Vodafone Group Plc (U.K.), Inmarsat Global Limited (U.K.), ORBCOMM Inc. (U.S.), Swarm Technologies Inc. (U.S.), Alén Space, S.L. (Spain), Fossa Systems, S.L. (Spain), SATELIO IOT SERVICES, S.L. (Spain), and OQ Technology (Luxembourg).

FAQs About the Report

What is the value of revenue generated from the sale of satellite IoT across the globe? At what rate is their demand expected to grow for the next 5-7 years?

The global satellite IoT market is projected to reach $2.1 billion by 2030, at a CAGR of 18.2% during the forecast period.

Which service type segment showcases high growth opportunities for the satellite IoT market players?

Based on service type, the direct-to-satellite service segment is expected to projected to register the highest CAGR during the forecast period due to the rising demand for direct-to-satellite IoT services for tracking and managing remote operations and the growing demand for direct-to-satellite services in smart agriculture and marine applications.

Which sector segments of the market are projected to create more traction in the global satellite IoT market?

The agriculture segment is expected to register the highest CAGR during the forecast period, mainly due to the increasing need for satellite IoT services to provide real-time data about environment temperature, soil, and water content, the growing need to enhance the effectiveness of pesticides, and fertilizers, and enhancing herd management, and increasing deployment of satellite IoT services for irrigation management.

What are the key factors driving the growth of the satellite IoT market? What are the major opportunities for existing market players and new entrants?

The growth of the satellite IoT market is driven by the rising demand for interconnectivity between devices in remote areas and the increasing use of satellite IoT technology in the agriculture industry. Additionally, the growing use of satellite IoT technology in maritime applications is expected to generate growth opportunities for the players in this market.

Who are the major players operating in the global satellite IoT market?

Some key players in the global satellite IoT market are Iridium Communications Inc. (U.S.) Astrocast SA (Switzerland), Airbus SE (Netherlands), Globalstar, Inc. (U.S.), Thales (France), Eutelsat Communications S.A (Italy), Thuraya Telecommunications Company (UAE), Vodafone Group Plc (U.K.), Inmarsat Global Limited (U.K.), ORBCOMM Inc. (U.S.), Swarm Technologies Inc. (U.S.), Alén Space, S.L. (Spain), Fossa Systems, S.L. (Spain), SATELIO IOT SERVICES, S.L. (Spain), and OQ Technology (Luxembourg).

Which regions/countries are expected to witness significant demand for satellite IoT in the coming years?

In 2023, North America is expected to account for the largest share of the global satellite IoT market. However, countries such as Germany, Japan, China, South Korea, and the U.K. are expected to witness strong growth in demand for satellite IoT.