Global Satellite IoT Market is valued at approximately USD 1.57 billion in 2023 and is anticipated to grow with a healthy growth rate of more than 21.1% over the forecast period 2024-2032. 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. This technology enables modern businesses and organizations to rely on IoT for numerous data-driven applications, including tracking, monitoring, and managing assets, ensuring worker safety, and enhancing remote operations. Satellite IoT is particularly crucial for operations in areas beyond the reach of traditional cellular networks, which cover only approximately 15% of the planet.
Factors such as growth in digitalization, increased adoption of advanced technologies, and the integration of satellite IoT across various industries such as utilities, maritime, defense, and military are positively impacting the growth of the market. Additionally, the rise in investments in AI, ML, cloud-based services, and IoT is expected to provide lucrative growth opportunities for the market during the forecast period. Moreover, the integration of satellite IoT with mainstream business intelligence technologies further drives market growth. However, high costs associated with the technology, regulatory issues, and lack of comprehensive government policies are expected to hamper market growth.
The key regions considered for the global Satellite IoT Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America dominated the satellite IoT market in 2022, owing to significant investments in advanced technologies such as cloud-based services, AI/ML, business analytics solutions, and IoT to improve businesses and customer experiences. However, the Asia-Pacific region is expected to exhibit the highest growth during the forecast period due to increasing digitalization, rapid urbanization, increasing demand for reliable connectivity in remote areas, and growing adoption of IoT applications across sectors such as agriculture, logistics, and disaster management. Additionally, government initiatives to boost digital infrastructure and the rising disposable income are fueling market growth.
Major market players included in this report are:
- ORBCOMM
- Intelsat
- Iridium Communications Inc.
- Airbus
- Globalstar
- OQ Technology
- Eutelsat Communications S.A.
- Thales
- Astrocast
- INMARSAT GLOBAL LIMITED
The detailed segments and sub-segment of the market are explained below:
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
By Region:
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- RoAPAC
- Latin America
- Brazil
- Mexico
- RoLA
- Middle East & Africa
- Saudi Arabia
- South Africa
- RoMEA
Years considered for the study are as follows:
- Historical year - 2022
- Base year - 2023
- Forecast period - 2024 to 2032
Key Takeaways:
- Market Estimates & Forecast for 10 years from 2022 to 2032.
- Annualized revenues and regional level analysis for each market segment.
- Detailed analysis of geographical landscape with Country level analysis of major regions.
- Competitive landscape with information on major players in the market.
- Analysis of key business strategies and recommendations on future market approach.
- Analysis of competitive structure of the market.
- Demand side and supply side analysis of the market.
Table of Contents
Chapter 1. Global Satellite IoT Market Executive Summary
- 1.1. Global Satellite IoT Market Size & Forecast (2022-2032)
- 1.2. Regional Summary
- 1.3. Segmental Summary
- 1.3.1. By Service Type
- 1.3.2. By Frequency Band
- 1.3.3. By Enterprise Size
- 1.3.4. By Industry Vertical
- 1.4. Key Trends
- 1.5. Recession Impact
- 1.6. Analyst Recommendation & Conclusion
Chapter 2. Global Satellite IoT Market Definition and Research Assumptions
- 2.1. Research Objective
- 2.2. Market Definition
- 2.3. Research Assumptions
- 2.3.1. Inclusion & Exclusion
- 2.3.2. Limitations
- 2.3.3. Supply Side Analysis
- 2.3.3.1. Availability
- 2.3.3.2. Infrastructure
- 2.3.3.3. Regulatory Environment
- 2.3.3.4. Market Competition
- 2.3.3.5. Economic Viability (Consumer's Perspective)
- 2.3.4. Demand Side Analysis
- 2.3.4.1. Regulatory frameworks
- 2.3.4.2. Technological Advancements
- 2.3.4.3. Environmental Considerations
- 2.3.4.4. Consumer Awareness & Acceptance
- 2.4. Estimation Methodology
- 2.5. Years Considered for the Study
- 2.6. Currency Conversion Rates
Chapter 3. Global Satellite IoT Market Dynamics
- 3.1. Market Drivers
- 3.1.1. Rise in Demand for Interconnectivity Between Devices in Remote Areas
- 3.1.2. Increase in Use of Satellite IoT to Automate Routine Processes in Agriculture Industry
- 3.1.3. Growth in Digitalization and Adoption of Advanced Technologies
- 3.2. Market Challenges
- 3.2.1. High Cost of Technologies
- 3.2.2. Regulatory Issues and Lack of Comprehensive Government Policies
- 3.3. Market Opportunities
- 3.3.1. Rise in Adoption of Cloud-based Solutions
- 3.3.2. Increase in Application of AR & VR Technologies
- 3.3.3. Integration of Satellite with Mainstream Technologies
Chapter 4. Global Satellite IoT Market Industry Analysis
- 4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.1.6. Futuristic Approach to Porter's 5 Force Model
- 4.1.7. Porter's 5 Force Impact Analysis
- 4.2. PESTEL Analysis
- 4.2.1. Political
- 4.2.2. Economical
- 4.2.3. Social
- 4.2.4. Technological
- 4.2.5. Environmental
- 4.2.6. Legal
- 4.3. Top investment opportunity
- 4.4. Top winning strategies
- 4.5. Disruptive Trends
- 4.6. Industry Expert Perspective
- 4.7. Analyst Recommendation & Conclusion
Chapter 5. Global Satellite IoT Market Size & Forecasts by Service Type 2022-2032
- 5.1. Segment Dashboard
- 5.2. Global Satellite IoT Market: Service Type Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 5.2.1. Direct-to-Satellite
- 5.2.2. Satellite IoT Backhaul
Chapter 6. Global Satellite IoT Market Size & Forecasts by Frequency Band 2022-2032
- 6.1. Segment Dashboard
- 6.2. Global Satellite IoT Market: Frequency Band Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 6.2.1. L-Band
- 6.2.2. Ku and Ka-Band
- 6.2.3. S-Band
- 6.2.4. Others
Chapter 7. Global Satellite IoT Market Size & Forecasts by Enterprise Size 2022-2032
- 7.1. Segment Dashboard
- 7.2. Global Satellite IoT Market: Enterprise Size Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 7.2.1. Large Enterprise
- 7.2.2. Small and Medium-sized Enterprise
Chapter 8. Global Satellite IoT Market Size & Forecasts by Industry Vertical 2022-2032
- 8.1. Segment Dashboard
- 8.2. Global Satellite IoT Market: Industry Vertical Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 8.2.1. Oil and Gas
- 8.2.2. Transportation and Logistics
- 8.2.3. Energy and Utilities
- 8.2.4. Agriculture
- 8.2.5. Maritime
- 8.2.6. Healthcare
- 8.2.7. Military and Defense
- 8.2.8. Others
Chapter 9. Global Satellite IoT Market Size & Forecasts by Region 2022-2032
- 9.1. North America Satellite IoT Market
- 9.1.1. U.S. Satellite IoT Market
- 9.1.1.1. Service Type breakdown size & forecasts, 2022-2032
- 9.1.1.2. Frequency Band breakdown size & forecasts, 2022-2032
- 9.1.1.3. Enterprise Size breakdown size & forecasts, 2022-2032
- 9.1.1.4. Industry Vertical breakdown size & forecasts, 2022-2032
- 9.1.2. Canada Satellite IoT Market
- 9.2. Europe Satellite IoT Market
- 9.2.1. U.K. Satellite IoT Market
- 9.2.2. Germany Satellite IoT Market
- 9.2.3. France Satellite IoT Market
- 9.2.4. Spain Satellite IoT Market
- 9.2.5. Italy Satellite IoT Market
- 9.2.6. Rest of Europe Satellite IoT Market
- 9.3. Asia-Pacific Satellite IoT Market
- 9.3.1. China Satellite IoT Market
- 9.3.2. India Satellite IoT Market
- 9.3.3. Japan Satellite IoT Market
- 9.3.4. Australia Satellite IoT Market
- 9.3.5. South Korea Satellite IoT Market
- 9.3.6. Rest of Asia Pacific Satellite IoT Market
- 9.4. Latin America Satellite IoT Market
- 9.4.1. Brazil Satellite IoT Market
- 9.4.2. Mexico Satellite IoT Market
- 9.4.3. Rest of Latin America Satellite IoT Market
- 9.5. Middle East & Africa Satellite IoT Market
- 9.5.1. Saudi Arabia Satellite IoT Market
- 9.5.2. South Africa Satellite IoT Market
- 9.5.3. Rest of Middle East & Africa Satellite IoT Market
Chapter 10. Competitive Intelligence
- 10.1. Key Company SWOT Analysis
- 10.2. Top Market Strategies
- 10.3. Company Profiles
- 10.3.1. ORBCOMM
- 10.3.1.1. Key Information
- 10.3.1.2. Overview
- 10.3.1.3. Financial (Subject to Data Availability)
- 10.3.1.4. Product Summary
- 10.3.1.5. Market Strategies
- 10.3.2. Intelsat
- 10.3.3. Iridium Communications Inc.
- 10.3.4. Airbus
- 10.3.5. Globalstar
- 10.3.6. OQ Technology
- 10.3.7. Eutelsat Communications S.A.
- 10.3.8. Thales
- 10.3.9. Astrocast
- 10.3.10. INMARSAT GLOBAL LIMITED
Chapter 11. Research Process
- 11.1. Research Process
- 11.1.1. Data Mining
- 11.1.2. Analysis
- 11.1.3. Market Estimation
- 11.1.4. Validation
- 11.1.5. Publishing
- 11.2. Research Attributes