Satellite IoT Market size was valued at USD 1.88 Bn in 2023 and is expected to reach USD 7.95 Bn. by 2030, at a CAGR of 22.7%.
Satellite IoT Market Overview:
The Satellite Internet of Things (IoT) Market is experiencing rapid growth and transformation, driven by technological advancements, strategic mergers, and a surge in demand for reliable and ubiquitous connectivity. As industries continue to adopt satellite IoT solutions to enable seamless communication across remote regions, the market is set to expand significantly between 2024 and 2030. With increasing investments from key players, partnerships, and global developments in regions such as Vietnam, Thailand, Singapore, Japan, South Korea, European countries, and the United States, the satellite IoT landscape is primed for exponential growth.
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Mergers and Acquisitions in the Satellite IoT Market:
Strategic mergers and acquisitions (M&A) continue to be a driving force in the Satellite IoT sector, as companies seek to enhance their portfolios, access new markets, and accelerate technological innovation. Recent developments show that key players are investing in partnerships that support both regional expansion and the development of next-generation satellite IoT solutions.
Recent Mergers and Acquisitions:
- United States: Iridium Communications recently acquired Thales Alenia Space, strengthening its position in the satellite IoT market. This acquisition allows Iridium to integrate advanced satellite technology into its global network, enhancing the performance and scalability of IoT solutions for businesses and governments.
- South Korea: SK Telecom has partnered with Samsung Electronics to launch a new satellite-based IoT service, expanding their influence in the telecommunications and space industries. The collaboration is expected to enhance satellite IoT applications across industries such as agriculture, energy, and logistics.
- Japan: Japan’s NEC Corporation has acquired Astroscale, a leading satellite technology company. This acquisition boosts NEC’s capabilities in satellite IoT services, particularly for space debris management, a crucial component for ensuring the longevity and reliability of satellite-based IoT systems.
- Vietnam & Thailand: In Southeast Asia, Viettel Group and Thai Airways have joined forces to provide satellite IoT solutions for the logistics and transportation sectors. This collaboration is aimed at enhancing connectivity in remote areas and improving operational efficiency for businesses relying on satellite-based data exchange.
- European Union (Germany & France): SES S.A., a global satellite operator based in Luxembourg, announced its acquisition of OneWeb to expand its satellite IoT offerings. The combined technologies will focus on delivering reliable connectivity to underserved regions across Europe and other parts of the world, supporting industries such as agriculture, healthcare, and utilities.
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Satellite IoT Market Segmentation:
by Service Type
Satellite IoT backhaul
Direct-to-Satellite
by Frequency Band
L-band
Ku and Ka-band
S-band
other
In terms of frequency band, the ku and ka band segments led the satellite IoT market in 2023. The ku band frequency ranges from 12 to 18 GHz, while the ka band frequency ranges from 26.5 to 40 GHz. Increasing the bandwidth frequency results in a higher data transfer rate. Ku-band provides short-range and high-resolution imaging capabilities and is utilized for satellite communications, particularly downlink. The Ku-band frequency spectrum for satellite communication is largely utilized for maritime VSAT services. Because of its larger capacity and more availability, this band provides a more cost-effective and adaptable method of achieving high throughput on smaller reflector dishes.
by Application
Marine telematics
Smart agriculture
Remote oil rigs
Mining
Energy and Utilities
Construction
Military and defense
Transportation
by Organization Size
Small-size Enterprises
Medium-sizedEnterprises
Large Enterpriser
The Satellite IoT Market is divided into three segments based on enterprise size: small, medium, and big organizations. The big enterprise segment accounted for the greatest market share in 2023 and is predicted to increase at a considerable CAGR during the forecast period. The growing use of satellite IoT in large-scale organizations is likely to generate numerous prospects for market expansion. These satellites are extremely valuable for high-precision, complex space operations. It is easy to navigate by remote using a sensing and navigation system powered by the internet. Continuously inventive and sophisticated tactics and techniques in IoT electronics are likely to drive segment expansion during the forecast period.
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Satellite IoT Market Key Players:
North America
1. Iridium Communication (US)
2. Global star (US)
3. Intelsat Corporation (USA)
4. Orbcomm (USA)
5. Viasat (US)
6. EchoStar Corporation (US)
7. Hughes Network Systems (US)
8. Space Exploration Technologies Corp. (SpaceX) (US)
9. Kepler Communications (Canada)
10. Helios Wire (Canada)
11. Intelsat (US)
Europe
12. Inmarsat Global Limited (UK)
13. Astrocast (Switzerland)
14. Airbus S.A.S (Netherlands)
15. Inmarsat (UK)
16. SES S.A. (Luxembourg)
17. Eutelsat (France)
18. Hispasat (Spain)
19. Kongsberg Satellite Services (KSAT) (Norway)
20. Astrocast (Switzerland)
21. Hiber (Netherlands)
Asia Pacific
22. Myriota (Australia)
23. Fleet Space Technologies (Australia)
24. other
Middle East Africa
25. Thuraya (UAE)
26. iDirect (Dubai)
27. YahClick (Abu Dhabi, United Arab Emirates)
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Key Developments by Region:
Vietnam: Vietnam is emerging as a key player in the satellite IoT market, with its growing tech infrastructure and investment in space technology. Viettel Group has made significant advancements in satellite communication systems and IoT solutions. Their collaborations with global companies are focused on enhancing connectivity in rural areas and enabling smart agriculture solutions.
Thailand: Thailand is increasingly adopting satellite IoT solutions, particularly in sectors such as agriculture and transportation. Thai Airways is partnering with Viettel Group to enhance satellite IoT connectivity in remote regions of Southeast Asia. These advancements are enabling businesses to operate efficiently in areas where traditional communication networks are limited.
Singapore: As a regional leader in technology and innovation, Singapore is pushing for the adoption of satellite IoT solutions to improve national infrastructure and smart city projects. SingTel has launched new satellite IoT services in collaboration with Intelsat to improve communication for maritime, aviation, and logistics sectors in the Asia-Pacific region.
Japan: Japan is a global leader in space exploration and satellite technologies. Companies like NEC Corporation and Japan Aerospace Exploration Agency (JAXA) are at the forefront of deploying satellite IoT systems for environmental monitoring, transportation, and agriculture. JAXA’s collaborations with private players to integrate satellite IoT with AI is transforming smart cities and rural development.
South Korea: SK Telecom and Samsung Electronics are leading the way in South Korea’s satellite IoT market, expanding their offerings to include satellite-powered IoT solutions for real-time data collection and analysis in agriculture, energy, and logistics sectors. Their joint efforts are focused on offering reliable connectivity in remote regions, including mountainous areas and oceans.
United States: The U.S. continues to dominate the satellite IoT space with companies like Iridium Communications, OneWeb, and SpaceX leading in satellite communication and IoT service offerings. SpaceX’s Starlink network has revolutionized satellite connectivity, bringing high-speed internet to remote areas and supporting the IoT infrastructure for a wide range of industries.
European Union (Germany, France, UK): Europe is seeing a rise in satellite IoT solutions, especially in industries like agriculture, environmental monitoring, and defense. SES S.A. has partnered with OneWeb to improve satellite IoT capabilities in remote areas. Additionally, Thales Group has made significant strides in providing satellite IoT solutions for maritime, aviation, and defense applications.
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Key Players in the Satellite IoT Market:
Several key players are leading the way in the Satellite IoT market, continuing to expand their operations through strategic acquisitions and technological innovations. These companies are not only increasing their market share but also driving the development of next-generation satellite IoT technologies.
- Iridium Communications: Iridium Communications continues to strengthen its position in the satellite IoT market through key acquisitions, including its recent purchase of Thales Alenia Space. The company is focusing on expanding its satellite constellation to offer more robust and scalable IoT solutions for industries such as maritime, logistics, and defense.
- SpaceX: SpaceX, through its Starlink project, has disrupted the satellite IoT market with its low-cost, high-speed satellite internet service. The company’s global network is enabling IoT devices to operate seamlessly, even in the most remote regions of the world, facilitating a broad range of applications from agriculture to transportation.
- SES S.A.:As a major satellite operator, SES S.A. has partnered with OneWeb to enhance its satellite IoT capabilities. The joint venture is expected to expand connectivity in underserved regions and support IoT applications in industries such as oil and gas, transportation, and environmental monitoring.
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