Global Satellite IoT Market Worth $5.73 Billion by 2030: High Growth in Automotive and Agriculture Sectors

Dublin, Jan. 26, 2024 (GLOBE NEWSWIRE) -- The "Global Satellite IoT Market by Service Type (Direct to Satellite Services, Sat-IoT Backhaul Services), Frequency Band (Ka-band, Ku-band, L-band), End-Use - Forecast 2024-2030" report has been added to's offering.

This market analysis report on the Satellite IoT sector reveals robust growth projections, with the market size soaring from USD 1.57 billion in 2023 to an anticipated USD 5.73 billion by 2030. This expansion is set to occur at a compound annual growth rate (CAGR) of 20.30%. The upward trajectory of the Satellite IoT market is fueled by the increasing application across diverse industries including agriculture, automotive, healthcare, and defense, among others.

The continuous development in direct to satellite and backhaul services is enabling industries worldwide to improve their operational efficiencies through enhanced asset monitoring and analytics-based decision-making processes. Satellite IoT technologies are also pivotal in the evolution of smart vehicles, playing a vital role in providing critical data such as vehicle diagnostics, and real-time location tracking, which is instrumental in ensuring passenger safety.

Regional Market Insights

The report highlights significant activity within the Americas and Europe, where investment in military and communication networks is driving the Satellite IoT market forward. Asia-Pacific nations such as India and Singapore are also gaining momentum due to their developing healthcare infrastructures and a growing emphasis on medical tourism. The demanding needs of the automotive industry in powerhouse economies like Japan and China, combined with advances in the defense sector, are providing fertile ground for the expansion of satellite-enabled IoT solutions.

FPNV Positioning Matrix

In a vital component of the report, the FPNV Positioning Matrix evaluates business performance and product satisfaction, helping users to align their choices with specific business requirements. Vendors are categorized into distinct groups within the matrix to facilitate an understanding of their market position.

Market Share Analysis

Providing a granular view of the competitive landscape, the Market Share Analysis section offers a detailed examination of vendor dominance and market dynamics over the base year. The section serves as a barometer for companies to gauge their market performance against peers.

Key Company Profiles and Innovation

The report encompasses a diverse array of company profiles from leaders within the Satellite IoT market, detailing recent developments and innovations. These companies are at the forefront of integrating cutting-edge technologies, such as artificial intelligence and machine learning, enhancing the capabilities and applications of Satellite IoT solutions.

Market Segmentation Insights

An extensive segmentation analysis covered in the report provides insights into how the Satellite IoT market is divided across various service types, frequency bands, and end-use industries. The granular breakdown aids stakeholders in identifying specific segments that align with their strategic interests and market position.

The report provides a labyrinth of data and analysis to discerning professionals keen on capitalizing on the Satellite IoT trend. It addresses critical questions pertaining to market size, trends, and regulatory frameworks, delivering a comprehensive portrait of the Satellite IoT landscape for strategic planning and informed decision-making.

Key Takeaways

  • Market size forecast from 2023 to 2030, with a robust CAGR indicative of growth potential.
  • Detailed analysis of the influence of industry verticals on the expansion of Satellite IoT solutions.
  • Comprehensive regional insights spotlighting investment opportunities in diverse markets.
  • Identification of market share dynamics, providing a competitive edge to stakeholders.
  • Extensive vendor analysis with a focus on strategic positioning and product innovation.

The Satellite IoT Market is poised for unprecedented growth with multiple sectors and regions contributing to its rapid expansion, presenting a multitude of opportunities for stakeholders and industry participants worldwide. As the market continues to evolve, understanding these trends will be crucial for maintaining a competitive advantage in the emerging global landscape of satellite-powered IoT connectivity.

Key Attributes

Report AttributeDetails
No. of Pages197
Forecast Period2024-2030
Estimated Market Value (USD) in 2024$1.88 Billion
Forecasted Market Value (USD) by 2030$5.73 Billion
Compound Annual Growth Rate20.3%
Regions CoveredGlobal

Companies Mentioned

  • AAC Clyde Space
  • Airbus SAS
  • Alen Space, S.L.
  • Astrocast SA
  • AT&T, Inc.
  • Cowave Communication Technology Co., Ltd.
  • D-Orbit
  • Eutelsat S.A.
  • Exolaunch GmbH
  • Fleet Space Technologies Pty Ltd.
  • FOSSA Systems S.L
  • FreeWave Technologies, Inc.
  • Geespace
  • Globalstar, Inc.
  • Gomspace A/S
  • Ground Control Systems, Inc.
  • Hardwario Ltd.
  • Head Aerospace Group
  • IMT s.r.l.
  • Inmarsat Global Limited
  • Intelsat US LLC
  • Iridium Satellite LLC
  • Myriota Pty Ltd.
  • Northrop Grumman Systems Corporation
  • NuSpace Pte. Ltd.
  • OQ Technology
  • ORBCOMM Inc.
  • Qualcomm Technologies, Inc.
  • Satelio IoT Services, S.L.
  • Skylo Technologies
  • Swarm Technologies Inc.
  • Thales Group
  • Thuraya Telecommunications Company by Yahsat
  • Vodafone Limited

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Global Satellite IoT Market