Report Feature
Satellite IoT Market Trends and Forecast
The future of the global satellite IoT market looks promising with opportunities in the oil and gas, transportation and logistic, energy and utility, agriculture, maritime, healthcare, and military & defense sectors. The global satellite IoT market is expected to reach an estimated $2.11 billion by 2028 with a CAGR of 23.0% from 2023 to 2028. The major drivers for this market are substantial need for hybrid satellite-terrestrial connectivity, widespread use of this technology in automated business processes in agricultural sector, and emergence of IoT deployed satellite with low earth orbit-based connectivity.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown here.
Satellite IoT Market by Segment
The study includes trends and forecast for the global satellite IoT market by service type, frequency band, end use industry, and region
Satellite IoT Market by Service Type [Shipment Analysis by Value from 2017 to 2028]:
• Direct-to-Satellite
• Satellite IoT Backhaul
Satellite IoT Market by Frequency Band [Shipment Analysis by Value from 2017 to 2028]:
• L-Band
• Ku and Ka-Band
• S-Band
• Others
Satellite IoT Market by End Use Industry [Shipment Analysis by Value from 2017 to 2028]:
• Oil and Gas
• Transportation and Logistics
• Energy and Utilities
• Agriculture
• Maritime
• Healthcare
• Military and Defense
• Others
Satellite IoT Market by Region [Shipment Analysis by Value from 2017 to 2028]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Satellite IoT Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies, satellite IoT companies cater to increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the satellite IoT companies profiled in this report include-
• ORBCOMM
• Iridium Communications
• Astrocast
• Airbus SE
• Globalstar
• Thales Group
• Eutelsat Communications
Satellite IoT Market Insights
- Lucintel forecasts that L-band is expected to witness highest growth over the period due to its significant application in radars, GPS, radio, telecommunications, aircraft surveillance, and maritime industries.
- Agriculture is expected to witness the highest growth over the forecast period due to significant demand for IoT based satellite for smart greenhouses and precision agriculture and growing requirement for environmental, weather monitoring, and livestock monitoring.
- North America will remain the largest region over the forecast period due to presence of key players, growing demand for earth observation satellites, and the availability of a robust satellite framework in the region.
Features of the Global Satellite IoT Market
- Market Size Estimates: Satellite IoT market size estimation in terms of value ($B).
- Trend and Forecast Analysis: Market trends (2017 to 2022) and forecast (2023 to 2028) by various segments and regions.
- Segmentation Analysis: Satellite IoT market size by various segments, such as by service type, frequency band, end use industry, and region in terms of value ($B).
- Regional Analysis: Satellite IoT market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
- Growth Opportunities: Analysis of growth opportunities in different service types, frequency bands, end use industries, and regions for the satellite IoT Market.
- Strategic Analysis: This includes M&A, new product development, and competitive landscape of the satellite IoT market.
- Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q.1 What is the satellite IoT market size?
Answer: The global satellite IoT market is expected to reach an estimated $2.11 billion by 2028.
Q.2 What is the growth forecast for satellite IoT market?
Answer: The global satellite IoT market is expected to grow with a CAGR of 23.0% from 2023 to 2028
Q.3 What are the major drivers influencing the growth of the satellite IoT market?
Answer: The major drivers for this market are substantial need for hybrid satellite-terrestrial connectivity, widespread use of this technology in automated business processes in agricultural sector, and emergence of IoT deployed satellite with low earth orbit-based connectivity.
Q4. What are the major segments for satellite IoT market?
Answer: The future of the satellite IoT market looks promising with opportunities in the oil and gas, transportation and logistic, energy and utility, agriculture, maritime, healthcare, and military & defense sectors.
Q5. Who are the key satellite IoT companies?
Answer: Some of the key satellite IoT companies are as follows:
Answer: Lucintel forecasts that L-band is expected to witness highest growth over the period due to its significant application in radars, GPS, radio, telecommunications, aircraft surveillance, and maritime industries.
Q7. In satellite IoT market, which region is expected to be the largest in next 5 years?
Answer: North America will remain the largest region over the forecast period due to the presence of key players, growing demand for earth observation satellites, and the availability of a robust satellite framework in the region.
Q.8 Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% Customization Without any Additional Cost.
Q.2 What is the growth forecast for satellite IoT market?
Answer: The global satellite IoT market is expected to grow with a CAGR of 23.0% from 2023 to 2028
Q.3 What are the major drivers influencing the growth of the satellite IoT market?
Answer: The major drivers for this market are substantial need for hybrid satellite-terrestrial connectivity, widespread use of this technology in automated business processes in agricultural sector, and emergence of IoT deployed satellite with low earth orbit-based connectivity.
Q4. What are the major segments for satellite IoT market?
Answer: The future of the satellite IoT market looks promising with opportunities in the oil and gas, transportation and logistic, energy and utility, agriculture, maritime, healthcare, and military & defense sectors.
Q5. Who are the key satellite IoT companies?
Answer: Some of the key satellite IoT companies are as follows:
• ORBCOMM
• Iridium Communications
• Astrocast
• Airbus SE
• Globalstar
• Thales Group
• Eutelsat Communications
Q6. Which satellite IoT market segment will be the largest in future?Answer: Lucintel forecasts that L-band is expected to witness highest growth over the period due to its significant application in radars, GPS, radio, telecommunications, aircraft surveillance, and maritime industries.
Q7. In satellite IoT market, which region is expected to be the largest in next 5 years?
Answer: North America will remain the largest region over the forecast period due to the presence of key players, growing demand for earth observation satellites, and the availability of a robust satellite framework in the region.
Q.8 Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% Customization Without any Additional Cost.
