Meticulous Research Indicates the Satellite IoT Market to Hit $2.48B by 2031

According to the Global Systems for Mobile Communications Association (GSMA), there are approximately 4.6 billion and 5.4 billion people actively connected to the internet through their mobile devices. Take into account those who own and actively use more than one type of device, and this extensive interconnectivity sprawl intensifies. Then, factor in everything from smart home systems to software-defined vehicles, sensors transmitting data in industrial automation-heavy settings, healthcare monitors, predictive agricultural stations, you name it – that’s the essence of the Internet of Things, y’all. (IoT, IoMT, IIoT, AIoT, the whole lot.)

However, no ecosystem is devoid of challenge; connectivity in increasingly difficult-to-reach areas isn’t a reliable guarantee, and issues pop up when mobile network infrastructure isn’t duly updated. Individual consumers and full-scale businesses alike depend on connectivity to thrive.

This is where satellite IoT (satIoT, for short) can come into play.

With satIoT, more is made possible; no simpler way to word it than that. Imagine remotely managing a provider’s critical infrastructure in even far-flung, geographically isolated locations. Think about environmental monitoring, tracking assets’ transoceanic shipping routes, and plenty of other avenues through which real-time visibility yields hundreds of new cross-industry opportunities.

That’s satIoT.

As defined by Meticulous Research, satIoT services “are used for satellite communication networks to connect to terrestrial IoT sensors and IoT end nodes to a server,” and the applications therein span what we mentioned in this article’s intro as well as equipment tracking, weather forecasting, aircraft safety systems and telematics and more.

In fact, according to Meticulous Research’s “Satellite IoT Market – Global Forecast to 2031” report, the satIoT market is projected to reach $2.48 billion within the next seven years, representing a compound annual growth rate of 18.2%.

Here’s a quick rundown of other key points from the report, in terms of overall segments:

• The direct-to-satellite services segment is expected to account for 71% of the satellite IoT market. (i.e. attributed to spikes in demand for tracking and managing remote operations)

• The Ku-band (in terms of frequency bands) segment is expected to account for 40% of the market. (i.e. due to lower spectrum costs, the growing use of this band for short-range/high-res imaging capabilities, etc.)

• The military-related segment is expected to account for 37% of the market. (i.e. needs for enhanced connectivity in harsh environments, situational awareness capabilities, the streamlining of complex defense procedures, etc.)

• Lastly (in terms of geography and market impacts therein), North America is expected to hold its largest share (49%), albeit Asia-Pacific is in a close second.

For the full Meticulous Research report, click here.