Satellite technology plays a big role in the machine to machine (M2M) market and the Internet of Things. From tracking assets to remotely communicating with systems all over the globe, satellite connectivity helps keep machines connected, expand application reach and enable data communications virtually anywhere.
M2M is disrupting industries across the board, from retail, emergency response and automotive to healthcare, agriculture and energy and utilities. Satellite M2M applications help manage water meters and water sources, and power applications in the oil and gas sector. Some IoT applications use cellular or wireless connectivity, but satellite ensures global reach, scalability and durability. Dual-mode M2M is also emerging, using a hybrid of methods such as cellular and satellite or Wi-Fi and satellite.
A recent study from MarketsandMarkets predicts M2M satellite communications to grow from a $2,983.4-million market in 2014 to more than $4.7 billion by 2019 – a CAGR of 9.8 percent. The report explored the market and major players, including KORE, Oracle, Deutsche Telekom, Digi International, ORBCOMM, Telit and Gemalto.
Other players include Inmarsat, which is a provider of global mobile satellite communications services and recently teamed up with RacoWireless as a global distribution partner for IsatData Pro, a two-way message service for M2M communication.
“Satellite connectivity services are swiftly becoming an essential component within the expanding M2M market, enabling solution providers to extend the reach and resilience of their M2M networks to virtually any region on Earth,” said Joel Schroeder, director of M2M strategy and market development, Inmarsat Enterprise Business Unit.
Back in 2012, Global Industry Analysts (GIA) predicted the global market for satellite M2M services would top $1.6 billion by 2016, so the industry is definitely on track and beating predictions for growth. As more high-speed and next-generation M2M applications launch, the number of satellite devices will continue to increase.
In addition to the forecast, the report looks at adoption trends, key drivers, restraints, opportunities and best practices across regions and verticals. Learn more about the report here.
Image via Shutterstock
Edited by
Cassandra Tucker
