[197 Pages Report] The Satellite IoT Market size was estimated at USD 1.57 billion in 2023 and expected to reach USD 1.88 billion in 2024, at a CAGR 20.30% to reach USD 5.73 billion by 2030.
The utilization of satellite IoT is significantly growing across various regions, including agriculture, automotive, energy & utilities, and the healthcare sector, which offers high-speed, low-latency connections over vast distances. These satellites IoT assist businesses in monitoring and tracking assets, personnel, and other important data and allow businesses to take informed and analytical decisions based on up-to-date information. Furthermore, satellite IoT is widely used in vehicles to provide information such as location, vehicle speed, time, duration, and direction to ensure the passenger’s safety. The usage of robotics is significantly growing in the military and defense sector, which assists soldiers in search and rescue missions, and has further increased the need for IoT satellites to access data from remote locations and improve operational efficiency. Moreover, robotics are widely used in industrial manufacturing processes to perform various tasks, including welding, assembly, shipping, handling raw materials, and product packing, which further reduces production time. However, the huge investment cost of robotics and limited bandwidth capabilities to support satellite-based communications are limiting the growth of the market. Furthermore, the incorporation of modern technologies, including machine learning algorithms and artificial intelligence in robotics, to perform complex tasks is creating opportunities for the IoT satellite market.
Regional Insights
The heavy investment in military and communication networks and the adoption of satellite IoT across the Americas and Europe regions are contributing to the growth of the market. Furthermore, development in healthcare infrastructure and increasing medical tourism across the Asia-Pacific region, including India, Thailand, Singapore, Malaysia, and South Korea, are expanding the need for satellite IoT which assists in diagnosing diseases and allowing patients to receive efficient treatment, are propelling the growth of the market. Furthermore, increasing automotive production in various countries such as Japan, China, South Korea, France, and Germany, along with a surge in the number of sales of passenger cars, is expected to create opportunities for the satellite IoT market. Moreover, rising government expenditure on the advancement of the defense & military sector in many nations, such as the emerging economies of the Asia-Pacific region, further expanded the need for satellite IoT, subsequently expanding the market scope. Additionally, various government investments in the aerospace sector, such as the U.S., Canada, Germany, China, and India, further accelerated deployment of innovative technologies are expected to grow the global satellite IoT market.
FPNV Positioning Matrix
The FPNV Positioning Matrix is pivotal in evaluating the Satellite IoT Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
Market Share Analysis
The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Satellite IoT Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
Key Company Profiles
The report delves into recent significant developments in the Satellite IoT Market, highlighting leading vendors and their innovative profiles. These include AAC Clyde Space, Airbus SAS, Alen Space, S.L., Astrocast SA, AT&T, Inc., Cowave Communication Technology Co., Ltd., D-Orbit, Eutelsat S.A., Exolaunch GmbH, Fleet Space Technologies Pty Ltd., FOSSA Systems S.L, FreeWave Technologies, Inc., Geespace, Globalstar, Inc., Gomspace A/S, Ground Control Systems, Inc., Hardwario Ltd., Head Aerospace Group, IMT s.r.l., Inmarsat Global Limited, Intelsat US LLC, Iridium Satellite LLC, Myriota Pty Ltd., Northrop Grumman Systems Corporation, NuSpace Pte. Ltd., OQ Technology, ORBCOMM Inc., Qualcomm Technologies, Inc., Satelio IoT Services, S.L., Skylo Technologies, Swarm Technologies Inc., Thales Group, Thuraya Telecommunications Company by Yahsat, and Vodafone Limited.
Market Segmentation & Coverage
This research report categorizes the Satellite IoT Market to forecast the revenues and analyze trends in each of the following sub-markets:
- Service Type
- Direct to Satellite Services
- Sat-IoT Backhaul Services
- Frequency Band
- Ka-band
- Ku-band
- L-band
- S-band
- End-Use
- Agriculture
- Automotive
- Energy & Utilities
- Healthcare
- Maritime
- Military & Defence
- Transportation & Logistics
- Region
- Americas
- Argentina
- Brazil
- Canada
- Mexico
- United States
- California
- Florida
- Illinois
- New York
- Ohio
- Pennsylvania
- Texas
- Asia-Pacific
- Australia
- China
- India
- Indonesia
- Japan
- Malaysia
- Philippines
- Singapore
- South Korea
- Taiwan
- Thailand
- Vietnam
- Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom
- Americas
The report offers valuable insights on the following aspects:
- Market Penetration: It presents comprehensive information on the market provided by key players.
- Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.
- Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.
- Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.
- Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.
The report addresses key questions such as:
- What is the market size and forecast of the Satellite IoT Market?
- Which products, segments, applications, and areas should one consider investing in over the forecast period in the Satellite IoT Market?
- What are the technology trends and regulatory frameworks in the Satellite IoT Market?
- What is the market share of the leading vendors in the Satellite IoT Market?
- Which modes and strategic moves are suitable for entering the Satellite IoT Market?