Satellite IoT: Introduction

  • Satellite IoT is commonly referred to as internet over satellite connections. Satellite IoT is a complex network and connects physical things such as sensors and actuators to the internet. Satellite IoT is the backbone to drive secure connection of different devices to the internet across sectors such as automobile, energy & utilities, oil & gas, agriculture, and forestry.
  • Satellite IoT is a complete system that uses edge and cloud computing to create a secure connection with remote assets, inaccessible assets, and critical assets.
  • Satellite communication supports IoT applications in various areas, including deep sea, remote sites, and mining locations, where cellular connectivity is unavailable.
  • The global satellite IoT market is projected to expand at a rapid pace during the forecast period, due to advancement in technologies across the globe.

Are you a start-up willing to make it big in the business? Grab an exclusive PDF Brochure of this report

Global Satellite IoT Market: Dynamics

Global Satellite IoT Market: Key Drivers & Restraints

  • Surge in adoption of robust and dynamic business models, and a growing shift in investments and research from the public to private organizations is a major factor likely to accelerate the satellite IoT market in the next few years.
  • Rise in demand for better communication and interaction with the physical environment to accomplish a broad range of activities in a more efficient and informed manner across the globe is estimated to boost the growth of the satellite IoT market during the forecast period.
  • Additionally, rise in adoption of satellite IoT among various sectors such as oil & gas, and agriculture, to increase connectivity is projected to boost the demand for satellite IoT across the globe.
  • Rising demand to fill the gap in tracking issues related to pipeline leakages is also expected to propel the satellite IoT market during the forecast period.
  • Increase in adoption of smart technologies, and applications such as autonomous vehicles and autonomous vessels is anticipated to boost the market.
  • At present, various sectors are focused on wireless technologies, and on increasing productivity and reducing losses which is expected to create new opportunities for the satellite IoT market during the forecast period.
  • However, technology fragmentation and strong competition from terrestrial infrastructure is the major factor projected to hinder the global satellite IoT market in the next few years.

Are you a start-up willing to make it big in the business? Grab an exclusive PDF sample of this report

Impact of COVID-19 on the Global Satellite IoT Market

  • Increasing cases of COVID-19 across the globe is resulting in economic slowdown. Developed countries are strongly affected by this pandemic. Most manufacturing or production of goods has been temporarily suspended all over the world. Businesses have been adversely impacted in most countries due to partial or full lockdown. This in turn is projected to indirectly hamper the global satellite IoT market in the next few years. Lack of industrial activity is expected to result in low cash flows, further hampering the funding of projects.

North America to Hold Major Share of the Global Satellite IoT Market

  • In terms of region, the global satellite IoT market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America
  • North America dominated the global satellite IoT market in 2019. The U.S. is the key market in the region due to the increasing adoption of satellite IoT connectivity in various sectors such as oil & gas, transport & logistics, and energy & utilities.
  • The satellite IoT market in Asia Pacific is projected to expand at a rapid pace during the forecast period. This can be attributed to increasing digitalization & infrastructure spending across countries such as China, Japan, and India in the region.

Global Satellite IoT Market: Competition Landscape

Several local, regional, and global players are active in the satellite IoT market with a strong presence. Rapid technological advancements have created significant opportunities in the global satellite IoT market. Satellite operators are increasingly focusing on collaboration, and mergers and acquisition to bring forth such services and hardware that can unleash the full potential of IoT. For instance, OQ Technology, a Luxembourg based company, introduced satellite IoT solutions primarily focused on the oil & gas sector.

Key Players Operating in the Global Satellite IoT Market

  • Hiber
  • Astrocast
  • Kineis
  • OQ Technology
  • Iridium Communications Inc.
  • Inmarsat plc
  • Eutelsat Corporation
  • Vodafone Group plc
  • Intelsat Corporation
  • Globalstar, Inc.
  • ORBCOMM Inc.
  • Cisco System Inc.
  • Microsoft Corporation
  • Verizon Communications

Global Satellite IoT Market: Research Scope

Global Satellite IoT Market, by Component

  • Hardware
  • Software
  • Services

Global Satellite IoT Market, by End-user

  • Agriculture
  • Oil & Gas
  • Automotive
  • Transportation & Logistics
  • Energy & Utilities
  • Healthcare
  • Retail
  • Manufacturing
  • Others

Global Satellite IoT Market, by Region

  • North America
    • U.S.
    • Canada
    • Rest of North America
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Rest of Asia Pacific
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa
  • South America
    • Brazil
    • Rest of South America

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The study is a source of reliable data on:

  • Market segments and sub-segments
  • Market trends and dynamics
  • Supply and demand
  • Market size
  • Current trends/opportunities/challenges
  • Competitive landscape
  • Technological breakthroughs
  • Value chain and stakeholder analysis

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report:

  • A complete backdrop analysis, which includes an assessment of the parent market
  • Important changes in market dynamics
  • Market segmentation up to the second or third level
  • Historical, current, and projected size of the market from the standpoint of both value and volume
  • Reporting and evaluation of recent industry developments
  • Market shares and strategies of key players
  • Emerging niche segments and regional markets
  • An objective assessment of the trajectory of the market
  • Recommendations to companies for strengthening their foothold in the market

Note:Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

Custom Market Research Services

TMR offers custom market research services that help clients to get information on their business scenario required where syndicated solutions are not enough.

REQUEST CUSTOMIZATION

Satellite Iot Market

Pre Book