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Global Satellite-enabled IoT Market is Expected to Reach 14.23 Bn by 2030, Growing at a CAGR of 13.2% over the Forecast Period (2022 – 2030): A Report by Absolute Markets Insights

Published On 10 Oct 2022 11:24 AM


New world of development was opened as soon this planet stumbled upon a device called satellites thanks to years of research and developments. The satellites are being used for several purposes like telecommunication to tracking devices. Today numerous satellites are freely navigating in the earth’s orbit and driving the growth of this world. Not just Russia or the United States, but countries like India, Japan, China and South Korea have successfully launched several satellites at extremely lower costs. Meanwhile, the buzzing technology called Internet of Things (IoT) has taken the world by storm. IoT is key in majority of new devices and applications, and when used along with satellites is helping majority of industries. Satellite-enabled IoT market is rampantly growing due to extensive adoption of smart technology, growing predictive analytics in order to facilitate proper maintenance. Another factor that helps this market grow is the buzzing requirement regarding lowering down costs related to sensors and growing business models that happen to be very robust.

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Meanwhile, the development of quantum internet along with increase in the demand for automation across various industry sectors also provide impetus to the growth of the satellite-enabled IoT market.

On the other hand, the use of this technology is costly affair. Higher amount of costs related to connectivity and economies of scale for large deployment dents the growth of the satellite-enabled IoT market. The evolution of IoT opens new doors of growth for the satellite-enabled IoT market.

By Frequency, L-Band Segment accounts for highest market share of The Satellite-enabled IoT Market in 2022

This segment accounts for maximum amount of money minted for this market as this frequency is in range of 1-2 GHz where the wavelength is in 30-15 cm, and it is rampantly used in multiple type of gadgets and applications like radio, aircraft surveillance, telecom, global positioning systems (GPS) and radars.

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Asia Pacific Region to witness fastest growth for this market Over the Forecast Period (2022 – 2030) in the Satellite-enabled IoT Market

The country of Asia Pacific will be minting more money for this market. Countries like India, and China are heavily investing on launching new satellites in wake of growing geo political worries in the region. Border conflicts between India, Pakistan and China are constant and this helps the market grow.

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A few of the major players operating in the global satellite-enabled IoT market are listed below:

  • Aerial & Maritime Ltd.
  • ExactEarth
  • Globalstar
  • Immarsat Global Limited
  • Iridium Communications Inc.
  • Karten Space
  • Kepler.
  • Lockheed Martin Corporation
  • Maxar Technologies
  • Northrop Grumman Corporation
  • ORBCOMM 2001
  • SES S.A.
  • Spaceitbridge.com
  • SpaceX
  • Thales Group
  • Thuraya Telecommunicatiobs Company
  • UAB NanoAvionika
  • Vodafone Limited
  • Others

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Global Satellite-enabled IoT Market Segmentation

Global Satellite-enabled IoT Market has been segmented by frequency, application and regions which are further classified into respective countries:

Global Satellite-enabled IoT Market Frequency Outlook (Revenue, USD Million, 2017 - 2030)

  • L-Band
  • Ka-Band
  • Ku-Band
  • C-Band
  • UHF
  • Others

Global Satellite-enabled IoT Market Application Outlook (Revenue, USD Million, 2017 - 2030)

  • Aerospace
  • Maritime
  • Agriculture
  • Mining
  • Consumer IoT
  • Military
  • Construction
  • Oil & Gas
  • Telecommunication
  • Security and Surveillance
  • Others

Global Satellite-enabled IoT Market Regional Outlook (Revenue, USD Million, 2017 - 2030)

  • North America (U.S., Canada, Mexico, Rest of North America)
  • Europe (France, The UK, Spain, Germany, Italy, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, The Netherlands, Luxembourg), Rest of Europe
  • Asia Pacific (China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest of Southeast Asia), Rest of Asia Pacific
  • Middle East & Africa (Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa)
  • Latin America (Brazil, Argentina, Rest of Latin America)

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Press Release Provided By: Absolute Markets Insights