According to Market Research Future Analysis, the global satellite-enabled IoT market is anticipated to grow at a CAGR of 8% over the forecast period, 2018-2023. According to Market Research Future, the global satellite-enabled IoT market has been segmented into technology, application, and region.
Various businesses that operate in remote locations and offshore platforms are the major users of satellites. These businesses are using satellites for many years to provide connectivity for remote production plant monitoring and rapid decision making regarding the same. Internet of Things is revolutionizing, how devices connect and share information with each other. With IoT, various devices like smartphones and other wearable device are interconnected with homes, cities, and vehicles to collect a huge amount of data, which is to analyzed and processed for even better and enhanced communication. Some of the examples of connected industrial space include transcontinental voyagers, pipelines across deserts, oil drilling stations in the sea, and fiber-optic cables connecting the continents.
Internet of Things is extending the existing technologies beyond their scope. Enterprises are focusing on innovation and research for generating applications that can assist in maintaining compatibility into the current technology landscape. Once IoT is endowed with a global network of billions of devices, the technology is likely to escort making tremendous changes which willimpact the new businesses to transform new business models and evolve with new capabilities.
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The geographical segmentation of the Satellite-Enabled IoT Market include regions like North America, Europe, Asia Pacific, and rest of the world. Europe is expected to dominate the global market of satellite-enabled IoT. Europe comprises of various key players dominating in this market segment having a strong grip on the market. These include countries like the U.K and France. Europe is already a mature market in terms of IoT connectivity. The satellite-enabled IoT market is likely to help various enterprises and public sectors to reach the remote areas in the region. Following Europe, the North American market is likely to experience a significant growth during the forecast period. Countries like Canada and the U.S. are adopting the IoT technologies faster than other nations and enterprises are innovating to produce a cost-effective portfolio. Privately owned companies like Space X are turning up with latest innovations and technologies and implementing those technologies to improve the consumer side experience.
However, Asia Pacific is expected to grow at a fast pace during the forecast period. This growth is majorly due to various technological investments by countries like China, India, and Japan.
The satellite-enabled IoT market include some of the key players like Eutelsat S.A (France), Inmarsat Plc (U.K), Maxar Technologies Ltd (Canada), Orbital ATK Inc (U.S.), SES S.A (Luxembourg), Lockheed Martin (U.S.), Space Exploration Technologies Corp (U.S.), Thales Alenia Space (France), Thuraya Telecommunications Company (UAE), NanoAvionics, Kepler Communications, Inc (Canada) among others. Various new entrants and privately held organizations are entering into the IoT space to serve a large audience.
On the basis of technology, the Satellite-Enabled IoT Market is segmented into L Band, Ku-Band, and Ka-Band. Among these, narrowband (L band operating frequency range 1–2 GHz in the radio spectrum) isbeing used for IoT connectivity purposes. However, progression in high-throughput Ku-band and Ka-band satellite links are expected to create a wide scope of communication in the space segment.
On the basis of application, the market is segmented into military, aerospace, telecommunication, transportation & logistics, healthcare, agriculture among others. Among these, the military and transportation & logistics hold a large market share. The unavailability of network services in remote terrains, deserts, oceans, and mountains has intensified a strong need for adoption of satellite-enabled IoT in the defense sector.
- Satellite Enabled IoT software services providers
- Software Solution providers
- Content services providers
- Data Analytics vendors
- Cloud Service providers
- Project accounting solution providers
- Value-added resellers
- Research Firms
LIST OF TABLES
Table1 World Population By Major Regions (2018 To 2030)
Table2 Global Satellite Enabled IoT Market: By Region, 2018-2023
Table3 North America Satellite Enabled IoT Market: By Country, 2018-2023
Table4 Europe Satellite Enabled IoT Market: By Country, 2018-2023
Table5 Asia-Pacific Satellite Enabled IoT Market: By Country, 2018-2023
LIST OF FIGURES
FIGURE 1 Global Satellite Enabled IoT Market Segmentation
FIGURE 2 Forecast Methodology
FIGURE 3 Five Forces Analysis Of Global Satellite Enabled IoT Market
FIGURE 4 Value Chain Of Global Satellite Enabled IoT Market
FIGURE 5 Share Of Global Satellite Enabled IoT Market In 2018, By Country (In %)
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