Satellite IoT Market

Satellite IoT Market by Service Type (Satellite IoT Backhaul, Direct-to-satellite), Frequency Band (L-Band, Ku and Ka-Band, S-band), Organization Size (Large Enterprises, Small and Medium Sized Enterprises), Vertical & Region - Global Forecast to 2027

Report Code: TC 8581 Feb, 2023, by marketsandmarkets.com

The Satellite IoT Market size was valued at USD 1.1 billion in 2022 and is expected to expand at a CAGR of 21.9% during the forecast period, reaching USD 2.9 billion by 2027. Increasing use of satellite IoT solutions in Defense organizations to protect their borders, establish communications in desert areas, and access real-time data and imaging is driving the satellite IoT market.

Satellite IoT Market

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Satellite IoT Market Dynamics

Driver: Rising proliferation of LEO-based services to connect remote regions

Recently, billions of dollars have been invested in a new generation of satellites that orbit the Earth at a low altitude. These LEO satellites better connect remote and inaccessible regions. The demand for LEO-based services, availability of funding, high-speed broadband, growth of governments in industrialized countries, and demand for low-cost broadband among consumers in less developed countries are driving the market for satellite IoT. These market drivers inspire investments in smallsat-based LEO constellations. According to the Science and Technology Policy Institute, satellite broadband capacity demand (served by both small and larger satellites in Geo-synchronous Earth Orbit (GEO), Medium Earth Orbit (MEO), and LEO orbits) is projected to grow at a CAGR of 29% by 2024, reaching more than three terabits of bandwidth 12; however, proposed LEO constellations can collectively deliver almost 10 times as much, if operational. This, in turn, would lead to some LEO constellations either not deploying fully or failing. If this were to occur, it would not be too dissimilar to the dot-com bubble of the 1990s, where several companies failed, leaving behind many robust organizations, infrastructure, and a trained workforce.

Restraint: High costs associated with development and maintenance of satellite IoT

The high cost incurred in developing and maintaining earth station infrastructure is one of the major factors hindering the market growth. Most of the required components are typically custom-fabricated or purchased from commercial off-the-shelf (COTS) vendors. Significant investments are also required in the R&D, manufacturing, system integration, and assembly stages of the value chains of these systems.

Moreover, satellite IoT services are used for highly sophisticated defense systems, due to which any incident of system failure is unfavorable. Apart from being highly accurate and reliable, they must be durable and energy-efficient and have wide detection ranges. As a result, to maintain market leadership and stay competitive, companies in this market must develop highly functional and efficient ground facilities. This translates into significant investments in testing and infrastructure and collaborations with universities, research institutes, and other companies.

Opportunity: Rising technological advancements

Ka-band and V-band spectrum usage has been observed in newer LEO satellites as they provide higher data rates, greater security, narrow beams, and smaller antennas. Along with advanced spectrum usage, superior active antennas and processing have increased the information/data transfer per satellite, thereby increasing the LEO constellation capacity.

Recent advances in analytics, combined with the increasing computational power and AI-based algorithms, help reduce operating costs and response times.

Challenge: Vulnerability of satellite IoT devices to cybersecurity attacks

Incidents of cybersecurity breaches have increased across the world in the past few years. Security is the most significant area of technical concern for most organizations deploying IoT systems and 5G networks, with multiple devices connected across networks, platforms, and devices. This is also true for satellites, given the size and scope, as well as the number of earth station access points. IoT proliferation means if one single device isn’t encrypted or the communication isn’t protected, a bad actor can manipulate it and potentially a whole network of connected devices. It isn’t just the devices that need to be protected, but every stage of data transmission.

By service type, direct-to-satellite to account for the largest market share during the forecast period

Direct-to-satellite connectivity in remote places can facilitate cutting-edge applications for nature monitoring, situational awareness, and improved safety and economic activities in remote areas. This type of architecture allows devices to communicate directly with the satellite without needing any intermediate ground gateway. The satellite receives data from IoT devices and transmits it to the ground station nearest to the device. The data then gets stored in the application server for further processing. This model can be used for a wide area sensor network with sensors spread over a wide geographical territory. Myriota (an Australian-based startup), Hiberband Direct (a Netherland-based startup), Astrocast, etc., are some of the global providers of low-cost, low-power, secure direct-to-orbit satellite connectivity for the Internet of Things.<

By vertical, agriculture vertical to register higher CAGR during the forecast period.

Precision agriculture, also known as Precision Farming, Agriculture 4.0, or New Farming in some countries, is the key to more effective and sustainable farms. It enables farmers to manage their workforce, resources, and farm operations more effectively while also increasing productivity and crop yield, which has a significant positive impact on profits. However, having connectivity is essential for implementing precision agriculture because the Internet of Things makes it possible. However, the bulk of rural areas has poor cellphone service due to a lack of infrastructure, and the nations that produce most of the world's food are very big. Agriculture has had a long-standing issue with the connection. Here, satellite IoT solutions provide global coverage without a gap. Devices can connect directly to space from any location in the world and provide low-cost connectivity.

North America to account for the largest market share during the forecast period

The market for satellite IoT has grown significantly in North America, which now holds the majority of the industry. The demand for satellite IoT in North America is being driven by the booming digitalization across industries, along with the surging demand for Earth observation satellites, which offer extremely high-resolution Earth images and videos, as close as 1 meter or less, of the Earth’s surface.

The US has the largest market share in North America due to the presence of a very strong and fast-growing space industry. Canada is a fast-developing market with the presence of multiple technology innovators. Both countries have invested heavily in launching various CubeSats and small satellites, medium-sized satellites, and large satellites into LEO for applications, such as earth observation, communications, and entertainment

Satellite IoT Market Size, and Share

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Key Market Players

The major vendors in this satellite IoT market include Orbcomm (US), Iridium Communication (US), Globalstar (US), Astrocast (Switzerland), Inmarsat Global (UK), Airbus (Netherlands), Intelsat (US), Thales (France), Eutelsat (France), Northrop Grumman (US), Thuraya (Singapore), Vodafone (UK), Surrey Satellite Technology (UK), Head Aerospace (China),  I.M.T. SRL (Italy), Fleetspace Technologies (Australia),  Swarm Technologies (US), Alenspace (Spain), OQ Technology (Luxembourg), Fossa Systems (Spain), Kepler Communications (Canada), Sateliot (Spain), Myriota (Australia), Kineis (France), and Nanoavionics (Lithuania). The study includes an in-depth competitive analysis of these key market players along with their profiles, recent developments, and key market strategies.

The market vendors have implemented various types of organic and inorganic growth strategies, such as new product launches, product upgrades, partnerships and agreements, business expansions, and mergers and acquisitions to strengthen their offerings in the market. 

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Scope of the Report

Report Metrics

Details

Market size value in 2022

USD 1 1 billion

Revenue forecast for 2027

USD 2.9 billion

Growth Rate

21.9% CAGR

Market size available for years

2017-2027

Base year considered

2021

Forecast period

2022-2027

Forecast units

Value (USD Billion)

Segments covered

By service type, frequency band, organization size, vertical, and region

Regions covered

North America, Europe, Asia Pacific, Middle East & Africa, and Latin America

Companies covered

Orbcomm (US), Iridium Communication (US), Globalstar (US), Astrocast (Switzerland), Inmarsat Global (UK), Airbus (Netherlands), Intelsat (US), Thales (France), Eutelsat (France), Northrop Grumman (US), Thuraya (Singapore), Vodafone (UK), Surrey Satellite Technology (UK), Head Aerospace (China),  I.M.T. SRL (Italy), Fleetspace Technologies (Australia),  Swarm Technologies (US), Alenspace (Spain), OQ Technology (Luxembourg), Fossa Systems (Spain), Kepler Communications (Canada), Sateliot (Spain), Myriota (Australia), Kineis (France), and Nanoavionics (Lithuania).

This research report categorizes the satellite IoT market to forecast revenues and analyze trends in each of the following subsegments:

By Service Type:
  • Satellite IoT Backhaul
  • Direct-to-Satellite
By Frequency Band:
  • L-Band
  • Ku-and Ka-Band
  • S-Band
  • Other Bands
By Organization Size:
  • Large Enterprises
  • Small and Medium Sized Enterprises
By Vertical:
  • Maritime
  • Oil & Gas
  • Transportation & Logistics
  • Energy & Utilities
  • Agriculture
  • Healthcare
  • Military & Defense
  • Other Verticals
By Region:
  • North America
    • US
    • Canada
  • Europe
    • UK
    • France
    • Germany
    • Italy
    • Spain
    • Nordics
    • Rest of Europe
    •  
  • Asia Pacific
    • China
    • Japan
    • India
    • ANZ
    • Southeast Asia
    • Rest of Asia Pacific
  • Middle East and Africa
    • Middle East
      • UAE
      • KAS
      • Rest of Middle East
    • Africa
      • South Africa
      • Egypt
      • Nigeria
      • Rest of Africa
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America

Recent Developments:

  • In January 2023, Iridium and Qualcomm collaborated to support satellite messaging in smartphones. The collaboration aims to support satellite services into a variety of smartphone brands and has the potential to expand to other consumer devices in the future.
  • In December 2022, Globalstar announced a commercial agreement with Wiagro, an Agtech startup from Argentina. Globalstar is supplying Wiagro with 2,500 ST100 satellite modem transmitters for its Smart Silobag, which allows for the remote monitoring of grain conditions stored in silo bags.
  • In February 2022, Astrocast SA launched its commercially available cost-effective, bidirectional satellite IoT (SatIoT) service to connect IoT devices globally outside of cell-based terrestrial networks at a comparable cost.

Frequently Asked Questions (FAQ):

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TABLE OF CONTENTS
 
1 INTRODUCTION (Page No. - 28)
    1.1 STUDY OBJECTIVES 
    1.2 MARKET DEFINITION 
           1.2.1 INCLUSIONS & EXCLUSIONS
    1.3 STUDY SCOPE 
           1.3.1 MARKET SEGMENTATION
                    FIGURE 1 MARKET SEGMENTATION
           1.3.2 REGIONS COVERED
    1.4 YEARS CONSIDERED 
    1.5 CURRENCY CONSIDERED 
           TABLE 1 USD EXCHANGE RATES, 2019–2021
    1.6 STAKEHOLDERS 
    1.7 RECESSION IMPACT 
 
2 RESEARCH METHODOLOGY (Page No. - 33)
    2.1 RESEARCH DATA 
           FIGURE 2 RESEARCH DESIGN
           FIGURE 3 RESEARCH METHODOLOGY
           2.1.1 SECONDARY DATA
                    2.1.1.1 Secondary sources
           2.1.2 PRIMARY DATA
                    2.1.2.1 Key opinion leaders
                    2.1.2.2 Key participants
                    2.1.2.3 Breakup of primary interviews
                    2.1.2.4 Market data
                    2.1.2.5 Key industry insights
    2.2 MARKET SIZE ESTIMATION 
           FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY, APPROACH 1 (SUPPLY SIDE): REVENUE FROM SOLUTIONS/SERVICES OFFERED BY SATELLITE IOT VENDORS
           FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY, APPROACH 2, BOTTOM-UP (SUPPLY SIDE): COLLECTIVE REVENUE FROM ALL SOLUTIONS AND SERVICES OFFERED BY SATELLITE IOT VENDORS
           FIGURE 6 MARKET SIZE ESTIMATION METHODOLOGY, APPROACH 3, TOP-DOWN APPROACH: DEMAND-SIDE ANALYSIS
    2.3 MARKET BREAKDOWN AND DATA TRIANGULATION 
           FIGURE 7 DATA TRIANGULATION
           TABLE 2 FACTOR ANALYSIS
    2.4 RESEARCH ASSUMPTIONS 
    2.5 LIMITATIONS AND RISK ASSESSMENT 
 
3 EXECUTIVE SUMMARY (Page No. - 42)
    FIGURE 8 SATELLITE IOT MARKET, 2020–2027 
    FIGURE 9 MARKET, REGIONAL SHARE, 2022 
    FIGURE 10 EUROPE TO BE BEST MARKET FOR INVESTMENTS DURING FORECAST PERIOD 
 
4 PREMIUM INSIGHTS (Page No. - 45)
    4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN SATELLITE IOT MARKET 
           FIGURE 11 GROWING DEMAND FOR HYBRID SATELLITE-TERRESTRIAL CONNECTIVITY AND DEVELOPMENT OF SATELLITE NETWORKS
    4.2 MARKET, BY KEY REGIONS AND VERTICALS 
           FIGURE 12 NORTH AMERICA AND TRANSPORTATION AND LOGISTICS SEGMENT TO ACCOUNT FOR SIGNIFICANT SHARE IN 2022
    4.3 EUROPE: MARKET, BY ORGANIZATION SIZE AND  COUNTRY 
           FIGURE 13 UK AND LARGE ENTERPRISES SEGMENT TO ACCOUNT FOR SIGNIFICANT SHARE IN 2022
           FIGURE 14 EUROPE TO WITNESS HIGHEST GROWTH BY 2027
 
5 MARKET OVERVIEW AND INDUSTRY TRENDS (Page No. - 48)
    5.1 INTRODUCTION 
    5.2 MARKET DYNAMICS 
           FIGURE 15 SATELLITE IOT MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES,  AND CHALLENGES
           5.2.1 DRIVERS
                    5.2.1.1 Rising proliferation of LEO-based services to connect remote regions
                               FIGURE 16 NUMBER OF SATELLITE IOT SUBSCRIBERS (MILLION), 2021–2027
                    5.2.1.2 Increasing development in satellite networks
                    5.2.1.3 Growing fleet of autonomous and connected vehicles
                    5.2.1.4 Increasing demand for hybrid satellite-terrestrial connectivity
                               TABLE 3 KEY INFORMATION ON SATELLITE AND TERRESTRIAL CONNECTIVITY
           5.2.2 RESTRAINTS
                    5.2.2.1 High costs associated with development and maintenance of satellite IoT
                    5.2.2.2 Stringent government regulations
           5.2.3 OPPORTUNITIES
                    5.2.3.1 Rising technological advancements
                    5.2.3.2 Growing use of small satellites for various applications
           5.2.4 CHALLENGES
                    5.2.4.1 Vulnerability of satellite IoT devices to cybersecurity attacks
                    5.2.4.2 High capital requirements
    5.4 CUMULATIVE GROWTH ANALYSIS 
    5.5 VALUE CHAIN ANALYSIS 
           FIGURE 17 VALUE CHAIN ANALYSIS
    5.6 ECOSYSTEM ANALYSIS 
           TABLE 4 ECOSYSTEM ANALYSIS
    5.7 PORTER’S FIVE FORCES ANALYSIS 
           TABLE 5 PORTER’S FIVE FORCES MODEL
           5.7.1 THREAT FROM NEW ENTRANTS
           5.7.2 THREAT FROM SUBSTITUTES
           5.7.3 BARGAINING POWER OF SUPPLIERS
           5.7.4 BARGAINING POWER OF BUYERS
           5.7.5 INTENSITY OF COMPETITIVE RIVALRY
    5.8 KEY STAKEHOLDERS AND BUYING CRITERIA 
           5.8.1 KEY STAKEHOLDERS IN BUYING PROCESS
                    FIGURE 18 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE END USERS
                    TABLE 6 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE END USERS
           5.8.2 BUYING CRITERIA
                    FIGURE 19 KEY BUYING CRITERIA FOR TOP THREE END USERS
                    TABLE 7 KEY BUYING CRITERIA FOR TOP THREE APPLICATIONS
    5.9 TECHNOLOGY ANALYSIS 
           5.9.1 ARTIFICIAL INTELLIGENCE
           5.9.2 INTERNET OF THINGS
           5.9.3 DYNAMIC SPECTRUM ACCESS TECHNOLOGIES
           5.9.4 ULTRA-HIGH FREQUENCY (UHF)
           5.9.5 VERY HIGH FREQUENCY (VHF)
           5.9.6 TRENDS AND DISRUPTIONS IMPACTING BUYERS
                    FIGURE 20 REVENUE SHIFT FOR SATELLITE IOT MARKET
    5.10 PATENT ANALYSIS 
           5.10.1 METHODOLOGY
           5.10.2 DOCUMENT TYPE
                    TABLE 8 PATENTS FILED, 2019–2022
           5.10.3 INNOVATION AND PATENT APPLICATIONS
                    FIGURE 21 NUMBER OF PATENTS GRANTED, 2019–2022
           5.10.4 TOP APPLICANTS
                    FIGURE 22 TOP TEN COMPANIES WITH HIGHEST NUMBER OF PATENT APPLICATIONS, 2019–2022
    5.11 PRICING ANALYSIS 
                    TABLE 9 AVERAGE SELLING PRICING MODEL
    5.12 CASE STUDY ANALYSIS 
           5.12.1 CASE STUDY 1: PONCE UTILIZED ORBCOMM’S SOLUTIONS TO ACHIEVE EFFECTIVE IRRIGATION
           5.12.2 CASE STUDY 2: ORATEK BROUGHT SATELLITE IOT CONNECTIVITY TO SENEGAL CLEAN WATER PROJECT
           5.12.3 CASE STUDY 3: INMARSAT ENABLED REAL-TIME MONITORING FOR RWE’S HYDROELECTRIC POWER-GENERATING FACILITIES IN WALES
    5.13 KEY CONFERENCES & EVENTS, 2022–2023 
                    TABLE 10 KEY CONFERENCES & EVENTS, 2022–2023
    5.14 TARIFF AND REGULATORY IMPACT 
           5.14.1 SATCOM POLICY
           5.14.2 ITU RADIO REGULATIONS
           5.14.3 CENTRE NATIONAL D’ETUDES SPATIALES (CNES)
           5.14.4 ASIA-PACIFIC SPACE COOPERATION ORGANIZATION
           5.14.5 BRAZILIAN TELECOMMUNICATIONS AGENCY
           5.14.6 FEDERAL COMMUNICATIONS COMMISSION (FCC)
           5.14.7 SOUTH AFRICAN NATIONAL SPACE AGENCY (SANSA)
 
6 SATELLITE IOT MARKET, BY SERVICE TYPE (Page No. - 65)
    6.1 INTRODUCTION 
           6.1.1 SERVICE TYPES: MARKET DRIVERS
           6.1.2 MARKET: RECESSION IMPACT
                    FIGURE 23 DIRECT-TO-SATELLITE SEGMENT TO WITNESS HIGHER CAGR DURING FORECAST PERIOD
                    TABLE 11 MARKET, BY SERVICE TYPE, 2017–2021 (USD MILLION)
                    TABLE 12 MARKET, BY SERVICE TYPE, 2022–2027 (USD MILLION)
    6.2 SATELLITE IOT BACKHAUL 
           6.2.1 RISING PREFERENCE FOR IOT GATEWAY BACKHAUL AS NEW SATCOM APPLICATION
                    TABLE 13 SATELLITE IOT BACKHAUL: MARKET, BY REGION,  2017–2021 (USD MILLION)
                    TABLE 14 SATELLITE IOT BACKHAUL: MARKET, BY REGION,  2022–2027 (USD MILLION)
    6.3 DIRECT-TO-SATELLITE 
           6.3.1 GROWING NEED FOR ENHANCED SAFETY
                    TABLE 15 DIRECT-TO-SATELLITE: MARKET, BY REGION, 2017–2021 (USD MILLION)
                    TABLE 16 DIRECT-TO-SATELLITE: MARKET, BY REGION, 2022–2027 (USD MILLION)
 
7 SATELLITE IOT MARKET, BY FREQUENCY BAND (Page No. - 70)
    7.1 INTRODUCTION 
           7.1.1 FREQUENCY BANDS: MARKET DRIVERS
           7.1.2 MARKET: RECESSION IMPACT
                    FIGURE 24 KU AND KA-BAND SEGMENT TO WITNESS HIGHEST GROWTH DURING  FORECAST PERIOD
                    TABLE 17 MARKET, BY FREQUENCY BAND, 2017–2021 (USD MILLION)
                    TABLE 18 MARKET, BY FREQUENCY BAND, 2022–2027 (USD MILLION)
    7.2 L-BAND 
           7.2.1 GROWING DEMAND FOR L-BAND FREQUENCY IN SPACE-BASED PLATFORMS
                    TABLE 19 L-BAND: MARKET, BY REGION, 2017–2021 (USD MILLION)
                    TABLE 20 L-BAND: MARKET, BY REGION, 2022–2027 (USD MILLION)
    7.3 KU AND KA-BAND 
           7.3.1 RISING DEMAND FOR SHORT-RANGE AND HIGH-RESOLUTION IMAGING CAPABILITIES
                    TABLE 21 KU AND KA-BAND: MARKET, BY REGION, 2017–2021 (USD MILLION)
                    TABLE 22 KU AND KA-BAND: MARKET, BY REGION, 2022–2027 (USD MILLION)
    7.4 S-BAND 
           7.4.1 GROWING AWARENESS REGARDING COST-EFFECTIVE TRANSMISSION FREQUENCY BAND
                    TABLE 23 S-BAND: MARKET, BY REGION, 2017–2021 (USD MILLION)
                    TABLE 24 S-BAND: MARKET, BY REGION, 2022–2027 (USD MILLION)
    7.5 OTHER BANDS 
           TABLE 25 OTHER BANDS: MARKET, BY REGION, 2017–2021 (USD MILLION)
           TABLE 26 OTHER BANDS: MARKET, BY REGION, 2022–2027 (USD MILLION)
 
8 SATELLITE IOT MARKET, BY ORGANIZATION SIZE (Page No. - 77)
    8.1 INTRODUCTION 
           8.1.1 ORGANIZATION SIZES: MARKET DRIVERS
           8.1.2 MARKET: RECESSION IMPACT
                    FIGURE 25 SMES SEGMENT TO ACCOUNT FOR HIGHER SHARE DURING FORECAST PERIOD
                    TABLE 27 MARKET, BY ORGANIZATION SIZE, 2017–2021 (USD MILLION)
                    TABLE 28 MARKET, BY ORGANIZATION SIZE, 2022–2027 (USD MILLION)
    8.2 LARGE ENTERPRISES 
           8.2.1 RISING ADVANCEMENTS IN MINIATURIZED TECHNOLOGY
                    TABLE 29 LARGE ENTERPRISES: MARKET, BY REGION, 2017–2021 (USD MILLION)
                    TABLE 30 LARGE ENTERPRISES: MARKET, BY REGION, 2022–2027 (USD MILLION)
    8.3 SMALL & MEDIUM-SIZED ENTERPRISES 
           8.3.1 RISING ADOPTION OF IOT TO REDUCE OPERATIONAL COSTS
                    TABLE 31 SMES: MARKET, BY REGION, 2017–2021 (USD MILLION)
                    TABLE 32 SMES: MARKET, BY REGION, 2022–2027 (USD MILLION)
 
9 SATELLITE IOT MARKET, BY VERTICAL (Page No. - 82)
    9.1 INTRODUCTION 
           9.1.1 VERTICALS: MARKET DRIVERS
           9.1.2 MARKET: RECESSION IMPACT
                    FIGURE 26 AGRICULTURE SEGMENT TO RECORD HIGHEST GROWTH DURING FORECAST PERIOD
                    TABLE 33 MARKET, BY VERTICAL, 2017–2021 (USD MILLION)
                    TABLE 34 MARKET, BY VERTICAL, 2022–2027 (USD MILLION)
    9.2 MARITIME 
           9.2.1 GROWING USE OF SATELLITE IOT TO TRACK SHIPPING CONTAINERS
                    TABLE 35 MARITIME: SATELLITE IOT MARKET, BY REGION, 2017–2021 (USD MILLION)
                    TABLE 36 MARITIME: MARKET, BY REGION, 2022–2027 (USD MILLION)
    9.3 OIL & GAS 
           9.3.1 INCREASING NEED TO IMPROVE SAFETY AND GUARANTEE FLEET COMPLIANCE
                    TABLE 37 OIL & GAS: MARKET, BY REGION, 2017–2021 (USD MILLION)
                    TABLE 38 OIL & GAS: MARKET, BY REGION, 2022–2027 (USD MILLION)
    9.4 TRANSPORTATION & LOGISTICS 
           9.4.1 LACK OF CONNECTIVITY IN TRANSPORTATION AND LOGISTICS
                    TABLE 39 TRANSPORTATION & LOGISTICS: MARKET, BY REGION,  2017–2021 (USD MILLION)
                    TABLE 40 TRANSPORTATION & LOGISTICS: MARKET, BY REGION,  2022–2027 (USD MILLION)
    9.5 ENERGY & UTILITIES 
           9.5.1 INSTALLATION OF SUSTAINABLE ENERGY SYSTEMS BY GOVERNMENT AND UTILITY COMPANIES
                    TABLE 41 ENERGY & UTILITIES: SATELLITE IOT MARKET, BY REGION, 2017–2021 (USD MILLION)
                    TABLE 42 ENERGY & UTILITIES: MARKET, BY REGION, 2022–2027 (USD MILLION)
    9.6 AGRICULTURE 
           9.6.1 GROWING NEED TO BOOST PRODUCTIVITY AND CROP YIELD
                    TABLE 43 AGRICULTURE: MARKET, BY REGION, 2017–2021 (USD MILLION)
                    TABLE 44 AGRICULTURE: MARKET, BY REGION, 2022–2027 (USD MILLION)
    9.7 HEALTHCARE 
           9.7.1 SATELLITE IOT CONNECTIVITY FACILITATES EFFECTIVE DIAGNOSIS AND TREATMENT
                    TABLE 45 HEALTHCARE: MARKET, BY REGION, 2017–2021 (USD MILLION)
                    TABLE 46 HEALTHCARE: MARKET, BY REGION, 2022–2027 (USD MILLION)
    9.8 MILITARY & DEFENSE 
           9.8.1 IOT TO IMPROVE SUCCESS RATES OF DEFENSE DUTIES
                    TABLE 47 MILITARY & DEFENSE: MARKET, BY REGION, 2017–2021 (USD MILLION)
                    TABLE 48 MILITARY & DEFENSE: MARKET, BY REGION, 2022–2027 (USD MILLION)
    9.9 OTHER VERTICALS 
           TABLE 49 OTHER VERTICALS: MARKET, BY REGION, 2017–2021 (USD MILLION)
           TABLE 50 OTHER VERTICALS: MARKET, BY REGION, 2022–2027 (USD MILLION)
 
10 SATELLITE IOT MARKET, BY REGION (Page No. - 93)
     10.1 INTRODUCTION 
               FIGURE 27 NORTH AMERICA TO ACCOUNT FOR LARGEST SHARE DURING FORECAST PERIOD
               FIGURE 28 EUROPE TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
               TABLE 51 MARKET, BY REGION, 2017–2021 (USD MILLION)
               TABLE 52 MARKET, BY REGION, 2022–2027 (USD MILLION)
     10.2 NORTH AMERICA 
             10.2.1 NORTH AMERICA: RECESSION IMPACT
             10.2.2 NORTH AMERICA: PESTLE ANALYSIS
                       FIGURE 29 NORTH AMERICA: MARKET SNAPSHOT
                       TABLE 53 NORTH AMERICA: SATELLITE IOT MARKET, BY SERVICE TYPE, 2017–2021 (USD MILLION)
                       TABLE 54 NORTH AMERICA: MARKET, BY SERVICE TYPE, 2022–2027 (USD MILLION)
                       TABLE 55 NORTH AMERICA: MARKET, BY FREQUENCY BAND,  2017–2021 (USD MILLION)
                       TABLE 56 NORTH AMERICA: MARKET, BY FREQUENCY BAND,  2022–2027 (USD MILLION)
                       TABLE 57 NORTH AMERICA: MARKET, BY ORGANIZATION SIZE,  2017–2021 (USD MILLION)
                       TABLE 58 NORTH AMERICA: MARKET, BY ORGANIZATION SIZE,  2022–2027 (USD MILLION)
                       TABLE 59 NORTH AMERICA: MARKET, BY VERTICAL, 2017–2021 (USD MILLION)
                       TABLE 60 NORTH AMERICA: MARKET, BY VERTICAL, 2022–2027 (USD MILLION)
                       TABLE 61 NORTH AMERICA: MARKET, BY COUNTRY, 2017–2021 (USD MILLION)
                       TABLE 62 NORTH AMERICA: MARKET, BY COUNTRY, 2022–2027 (USD MILLION)
             10.2.3 US
                       10.2.3.1 Growing use of satellite IoT in agriculture, maritime, transportation, and logistics
                                   TABLE 63 US: SATELLITE IOT MARKET, BY SERVICE TYPE, 2017–2021 (USD MILLION)
                                   TABLE 64 US: MARKET, BY SERVICE TYPE, 2022–2027 (USD MILLION)
                                   TABLE 65 US: MARKET, BY FREQUENCY BAND, 2017–2021 (USD MILLION)
                                   TABLE 66 US: MARKET, BY FREQUENCY BAND, 2022–2027 (USD MILLION)
                                   TABLE 67 US: MARKET, BY ORGANIZATION SIZE, 2017–2021 (USD MILLION)
                                   TABLE 68 US: MARKET, BY ORGANIZATION SIZE, 2022–2027 (USD MILLION)
                                   TABLE 69 US: MARKET, BY VERTICAL, 2017–2021 (USD MILLION)
                                   TABLE 70 US: MARKET, BY VERTICAL, 2022–2027 (USD MILLION)
             10.2.4 CANADA
                       10.2.4.1 Increased government funding and initiatives
     10.3 EUROPE 
             10.3.1 EUROPE: RECESSION IMPACT
             10.3.2 EUROPE: PESTLE ANALYSIS
                       FIGURE 30 EUROPE: MARKET SNAPSHOT
                       TABLE 71 EUROPE: SATELLITE IOT MARKET, BY SERVICE TYPE, 2017–2021 (USD MILLION)
                       TABLE 72 EUROPE: MARKET, BY SERVICE TYPE, 2022–2027 (USD MILLION)
                       TABLE 73 EUROPE: MARKET, BY FREQUENCY BAND, 2017–2021 (USD MILLION)
                       TABLE 74 EUROPE: MARKET, BY FREQUENCY BAND, 2022–2027 (USD MILLION)
                       TABLE 75 EUROPE: MARKET, BY ORGANIZATION SIZE, 2017–2021 (USD MILLION)
                       TABLE 76 EUROPE: MARKET, BY ORGANIZATION SIZE, 2022–2027 (USD MILLION)
                       TABLE 77 EUROPE: MARKET, BY VERTICAL, 2017–2021 (USD MILLION)
                       TABLE 78 EUROPE: MARKET, BY VERTICAL, 2022–2027 (USD MILLION)
                       TABLE 79 EUROPE: MARKET, BY COUNTRY, 2017–2021 (USD MILLION)
                       TABLE 80 EUROPE: MARKET, BY COUNTRY, 2022–2027 (USD MILLION)
             10.3.3 UK
                       10.3.3.1 Government support to encourage development of satellite IoT
                                   TABLE 81 UK: SATELLITE IOT MARKET, BY SERVICE TYPE, 2017–2021 (USD MILLION)
                                   TABLE 82 UK: MARKET, BY SERVICE TYPE, 2022–2027 (USD MILLION)
                                   TABLE 83 UK: MARKET, BY FREQUENCY BAND, 2017–2021 (USD MILLION)
                                   TABLE 84 UK: MARKET, BY FREQUENCY BAND, 2022–2027 (USD MILLION)
                                   TABLE 85 UK: MARKET, BY ORGANIZATION SIZE, 2017–2021 (USD MILLION)
                                   TABLE 86 UK: MARKET, BY ORGANIZATION SIZE, 2022–2027 (USD MILLION)
                                   TABLE 87 UK: MARKET, BY VERTICAL, 2017–2021 (USD MILLION)
                                   TABLE 88 UK: MARKET, BY VERTICAL, 2022–2027 (USD MILLION)
             10.3.4 GERMANY
                       10.3.4.1 Increase in demand for CubeSats
             10.3.5 FRANCE
                       10.3.5.1 Governments’ support for satellite IoT solutions
             10.3.6 SPAIN
                       10.3.6.1 Increasing development through partnerships and contracts
             10.3.7 ITALY
                       10.3.7.1 Active involvement of satellite IoT in Italian space agencies
             10.3.8 NORDICS
                       10.3.8.1 Growing use of space infrastructure in promoting high-quality research
             10.3.9 REST OF EUROPE
     10.4 ASIA PACIFIC 
             10.4.1 ASIA PACIFIC: RECESSION IMPACT
             10.4.2 ASIA PACIFIC: PESTLE ANALYSIS
                       TABLE 89 ASIA PACIFIC: SATELLITE IOT MARKET, BY SERVICE TYPE, 2017–2021 (USD MILLION)
                       TABLE 90 ASIA PACIFIC: MARKET, BY SERVICE TYPE, 2022–2027 (USD MILLION)
                       TABLE 91 ASIA PACIFIC: MARKET, BY FREQUENCY BAND, 2017–2021 (USD MILLION)
                       TABLE 92 ASIA PACIFIC: MARKET, BY FREQUENCY BAND, 2022–2027 (USD MILLION)
                       TABLE 93 ASIA PACIFIC: MARKET, BY ORGANIZATION SIZE,  2017–2021 (USD MILLION)
                       TABLE 94 ASIA PACIFIC: MARKET, BY ORGANIZATION SIZE,  2022–2027 (USD MILLION)
                       TABLE 95 ASIA PACIFIC: MARKET, BY VERTICAL, 2017–2021 (USD MILLION)
                       TABLE 96 ASIA PACIFIC: MARKET, BY VERTICAL, 2022–2027 (USD MILLION)
                       TABLE 97 ASIA PACIFIC: MARKET, BY COUNTRY, 2017–2021 (USD MILLION)
                       TABLE 98 ASIA PACIFIC: MARKET, BY COUNTRY, 2022–2027 (USD MILLION)
             10.4.3 CHINA
                       10.4.3.1 Government policies to attract satellite operators
             10.4.4 JAPAN
                       10.4.4.1 Role of private space industry in government space programs
             10.4.5 INDIA
                       10.4.5.1 Rising demand for observation and navigation satellites
             10.4.6 AUSTRALIA & NEW ZEALAND
                       10.4.6.1 Government initiatives and supportive policies to defend against cybercrime
             10.4.7 SOUTHEAST ASIA
                       10.4.7.1 Increasing investments in smart network infrastructure
             10.4.8 REST OF ASIA PACIFIC
     10.5 MIDDLE EAST & AFRICA 
             10.5.1 MIDDLE EAST & AFRICA: RECESSION IMPACT
             10.5.2 MIDDLE EAST & AFRICA: PESTLE ANALYSIS
                       TABLE 99 MIDDLE EAST & AFRICA: SATELLITE IOT MARKET, BY SERVICE TYPE,  2017–2021 (USD MILLION)
                       TABLE 100 MIDDLE EAST & AFRICA: MARKET, BY SERVICE TYPE,  2022–2027 (USD MILLION)
                       TABLE 101 MIDDLE EAST & AFRICA: MARKET, BY FREQUENCY BAND,  2017–2021 (USD MILLION)
                       TABLE 102 MIDDLE EAST & AFRICA: MARKET, BY FREQUENCY BAND,  2022–2027 (USD MILLION)
                       TABLE 103 MIDDLE EAST & AFRICA: MARKET, BY ORGANIZATION SIZE,  2017–2021 (USD MILLION)
                       TABLE 104 MIDDLE EAST & AFRICA: MARKET, BY ORGANIZATION SIZE,  2022–2027 (USD MILLION)
                       TABLE 105 MIDDLE EAST & AFRICA: MARKET, BY VERTICAL,  2017–2021 (USD MILLION)
                       TABLE 106 MIDDLE EAST & AFRICA: MARKET, BY VERTICAL,  2022–2027 (USD MILLION)
                       TABLE 107 MIDDLE EAST & AFRICA: MARKET, BY REGION,  2017–2021 (USD MILLION)
                       TABLE 108 MIDDLE EAST & AFRICA: MARKET, BY REGION,  2022–2027 (USD MILLION)
             10.5.3 MIDDLE EAST
                       10.5.3.1 Increasing private investments in space technology
                                   TABLE 109 MIDDLE EAST: SATELLITE IOT MARKET, BY COUNTRY, 2017–2021 (USD MILLION)
                                   TABLE 110 MIDDLE EAST: MARKET, BY COUNTRY, 2022–2027 (USD MILLION)
                       10.5.3.2 UAE
                       10.5.3.3 Saudi Arabia
                       10.5.3.4 Rest of Middle East
             10.5.4 AFRICA
                       10.5.4.1 Emergence of small and easy-to-construct nanosatellites
                                   TABLE 111 AFRICA: MARKET, BY COUNTRY, 2017–2021 (USD MILLION)
                                   TABLE 112 AFRICA: MARKET, BY COUNTRY, 2022–2027 (USD MILLION)
                       10.5.4.2 South Africa
                       10.5.4.3 Egypt
                       10.5.4.4 Nigeria
                       10.5.4.5 Rest of Africa
     10.6 LATIN AMERICA 
             10.6.1 LATIN AMERICA: RECESSION IMPACT
             10.6.2 LATIN AMERICA: PESTLE ANALYSIS
                       TABLE 113 LATIN AMERICA: SATELLITE IOT MARKET, BY SERVICE TYPE, 2017–2021 (USD MILLION)
                       TABLE 114 LATIN AMERICA: MARKET, BY SERVICE TYPE, 2022–2027 (USD MILLION)
                       TABLE 115 LATIN AMERICA: MARKET, BY FREQUENCY BAND,  2017–2021 (USD MILLION)
                       TABLE 116 LATIN AMERICA: MARKET, BY FREQUENCY BAND,  2022–2027 (USD MILLION)
                       TABLE 117 LATIN AMERICA: MARKET, BY ORGANIZATION SIZE,  2017–2021 (USD MILLION)
                       TABLE 118 LATIN AMERICA: MARKET, BY ORGANIZATION SIZE,  2022–2027 (USD MILLION)
                       TABLE 119 LATIN AMERICA: MARKET, BY VERTICAL, 2017–2021 (USD MILLION)
                       TABLE 120 LATIN AMERICA: MARKET, BY VERTICAL, 2022–2027 (USD MILLION)
                       TABLE 121 LATIN AMERICA: MARKET, BY COUNTRY, 2017–2021 (USD MILLION)
                       TABLE 122 LATIN AMERICA: MARKET, BY COUNTRY, 2022–2027 (USD MILLION)
             10.6.3 BRAZIL
                       10.6.3.1 Rising need to deepen cooperation with India in space technologies
             10.6.4 MEXICO
                       10.6.4.1 Collaborative studies and CubeSat launch initiatives by universities
             10.6.5 REST OF LATIN AMERICA
 
11 COMPETITIVE LANDSCAPE (Page No. - 135)
     11.1 OVERVIEW 
     11.2 MARKET SHARE ANALYSIS OF TOP PLAYERS, 2022 
               TABLE 123 INTENSITY OF COMPETITIVE RIVALRY
               FIGURE 31 MARKET SHARE ANALYSIS, 2022
     11.3 HISTORICAL REVENUE ANALYSIS 
               FIGURE 32 HISTORICAL REVENUE ANALYSIS, 2019–2021
     11.4 RANKING OF KEY PLAYERS 
               FIGURE 33 RANKING OF KEY PLAYERS, 2022
     11.5 EVALUATION QUADRANT FOR KEY PLAYERS, 2022 
             11.5.1 STARS
             11.5.2 EMERGING LEADERS
             11.5.3 PERVASIVE PLAYERS
             11.5.4 PARTICIPANTS
                       FIGURE 34 EVALUATION QUADRANT FOR KEY PLAYERS, 2022
     11.6 COMPANY PRODUCT FOOTPRINT ANALYSIS 
               TABLE 124 COMPANY FOOTPRINT, BY SERVICE TYPE
               TABLE 125 COMPANY FOOTPRINT, BY FREQUENCY BAND
               TABLE 126 COMPANY FOOTPRINT, BY REGION
     11.7 EVALUATION QUADRANT FOR STARTUPS/SMES, 2022 
             11.7.1 PROGRESSIVE COMPANIES
             11.7.2 RESPONSIVE COMPANIES
             11.7.3 DYNAMIC COMPANIES
             11.7.4 STARTING BLOCKS
                       FIGURE 35 EVALUATION QUADRANT FOR STARTUPS/SMES, 2022
     11.8 COMPETITIVE BENCHMARKING FOR SMES/STARTUPS 
               TABLE 127 DETAILED LIST OF KEY STARTUPS/SMES
               TABLE 128 COMPETITIVE BENCHMARKING FOR STARTUPS/SMES
     11.9 COMPETITIVE SCENARIO AND TRENDS 
             11.9.1 PRODUCT LAUNCHES
                       TABLE 129 PRODUCT LAUNCHES, 2020–2022
             11.9.2 DEALS
                       TABLE 130 DEALS, 2020–2023
 
12 COMPANY PROFILES (Page No. - 148)
     12.1 MAJOR PLAYERS 
(Business overview, Solutions offered, Recent developments, MnM view, Key strengths, Strategic choices made, and Weaknesses and competitive threats)*
             12.1.1 ORBCOMM
                       TABLE 131 ORBCOMM: BUSINESS OVERVIEW
                       TABLE 132 ORBCOMM: SOLUTIONS OFFERED
                       TABLE 133 ORBCOMM: PRODUCT LAUNCHES
                       TABLE 134 ORBCOMM: DEALS
             12.1.2 IRIDIUM COMMUNICATIONS
                       TABLE 135 IRIDIUM COMMUNICATIONS: BUSINESS OVERVIEW
                       FIGURE 36 IRIDIUM COMMUNICATIONS: COMPANY SNAPSHOT
                       TABLE 136 IRIDIUM COMMUNICATIONS: PRODUCTS/SERVICES OFFERED
                       TABLE 137 IRIDIUM COMMUNICATIONS: PRODUCT LAUNCHES
                       TABLE 138 IRIDIUM COMMUNICATIONS: DEALS
             12.1.3 ASTROCAST
                       TABLE 139 ASTROCAST: BUSINESS OVERVIEW
                       TABLE 140 ASTROCAST: SOLUTIONS/SERVICES OFFERED
                       TABLE 141 ASTROCAST: PRODUCT LAUNCHES
                       TABLE 142 ASTROCAST: DEALS
             12.1.4 GLOBALSTAR
                       TABLE 143 GLOBALSTAR: BUSINESS OVERVIEW
                       FIGURE 37 GLOBALSTAR: COMPANY SNAPSHOT
                       TABLE 144 GLOBALSTAR: SOLUTIONS OFFERED
                       TABLE 145 GLOBALSTAR: PRODUCT LAUNCHES
                       TABLE 146 GLOBALSTAR: DEALS
             12.1.5 INMARSAT GLOBAL
                       TABLE 147 INMARSAT GLOBAL: BUSINESS OVERVIEW
                       FIGURE 38 INMARSAT GLOBAL: COMPANY SNAPSHOT
                       TABLE 148 INMARSAT GLOBAL: SOLUTIONS/SERVICES OFFERED
                       TABLE 149 INMARSAT GLOBAL: DEALS
             12.1.6 AIRBUS
                       TABLE 150 AIRBUS: BUSINESS OVERVIEW
                       FIGURE 39 AIRBUS: COMPANY SNAPSHOT
                       TABLE 151 AIRBUS: SERVICES OFFERED
                       TABLE 152 AIRBUS: DEALS
             12.1.7 INTELSAT
                       TABLE 153 INTELSAT: BUSINESS OVERVIEW
                       FIGURE 40 INTELSAT: COMPANY SNAPSHOT
                       TABLE 154 INTELSAT: SERVICES OFFERED
                       TABLE 155 INTELSAT: DEALS
             12.1.8 THALES
                       TABLE 156 THALES: BUSINESS OVERVIEW
                       FIGURE 41 THALES: COMPANY SNAPSHOT
                       TABLE 157 THALES: PRODUCTS/SERVICES OFFERED
                       TABLE 158 THALES: DEALS
             12.1.9 EUTELSAT
                       TABLE 159 EUTELSAT: BUSINESS OVERVIEW
                       FIGURE 42 EUTELSAT: COMPANY SNAPSHOT
                       TABLE 160 EUTELSAT: SOLUTIONS OFFERED
                       TABLE 161 EUTELSAT: DEALS
             12.1.10 NORTHROP GRUMMAN
                       TABLE 162 NORTHROP GRUMMAN: BUSINESS OVERVIEW
                       FIGURE 43 NORTHROP GRUMMAN: COMPANY SNAPSHOT
                       TABLE 163 NORTHROP GRUMMAN: PRODUCTS OFFERED
                       TABLE 164 NORTHROP GRUMMAN: DEALS
             12.1.11 THURAYA
             12.1.12 VODAFONE
             12.1.13 SURREY SATELLITE TECHNOLOGY
             12.1.14 HEAD AEROSPACE
             12.1.15 IMT SRL
     12.2 STARTUPS/SMES 
             12.2.1 FLEET SPACE TECHNOLOGIES
             12.2.2 ALEN SPACE
             12.2.3 SWARM TECHNOLOGIES
             12.2.4 OQ TECHNOLOGY
             12.2.5 FOSSA SYSTEMS
             12.2.6 KEPLER COMMUNICATIONS
             12.2.7 SATELIOT
             12.2.8 MYRIOTA
             12.2.9 KINEIS
             12.2.10 NANOAVIONICS
*Details on Business overview, Solutions offered, Recent developments, MnM view, Key strengths, Strategic choices made, and Weaknesses and competitive threats might not be captured in case of unlisted companies.
 
13 ADJACENT/RELATED MARKETS (Page No. - 186)
     13.1 INTRODUCTION 
     13.2 LIMITATIONS 
     13.3 SMALL SATELLITE MARKET 
             13.3.1 MARKET DEFINITION
             13.3.2 SMALL SATELLITE MARKET, BY MASS
                       TABLE 165 SMALL SATELLITE MARKET, BY MASS, 2018–2020 (USD MILLION)
                       TABLE 166 SMALL SATELLITE MARKET, BY MASS, 2021–2026 (USD MILLION)
             13.3.3 SMALL SATELLITE MARKET, BY SUBSYSTEM
                       TABLE 167 SMALL SATELLITE MARKET, BY SUBSYSTEM, 2018–2020 (USD MILLION)
                       TABLE 168 SMALL SATELLITE MARKET, BY SUBSYSTEM, 2021–2026 (USD MILLION)
     13.4 SATELLITE COMMUNICATION (SATCOM) EQUIPMENT MARKET 
             13.4.1 MARKET DEFINITION
             13.4.2 SATELLITE COMMUNICATION (SATCOM) EQUIPMENT MARKET,  BY SOLUTION
                       TABLE 169 SATCOM EQUIPMENT MARKET, BY SOLUTION, 2017–2020 (USD MILLION)
                       TABLE 170 SATCOM EQUIPMENT MARKET, BY SOLUTION, 2021–2026 (USD MILLION)
 
14 APPENDIX (Page No. - 189)
     14.1 DISCUSSION GUIDE 
     14.2 KNOWLEDGESTORE: MARKETSANDMARKETS’  SUBSCRIPTION PORTAL 
     14.3 CUSTOMIZATION OPTIONS 
     14.4 RELATED REPORTS 
     14.5 AUTHOR DETAILS 

This research study involved extensive secondary sources, directories, and databases, to identify and collect information useful for this technical, market-oriented, and commercial study of the satellite IoT market. The primary sources were mainly several industry experts from core and related industries and preferred suppliers, manufacturers, distributors, Service Providers (SPs), technology developers, alliances, and organizations related to the segments of this industry’s value chain. In-depth interviews were conducted with various primary respondents that included key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants to obtain and verify critical qualitative and quantitative information, as well as assess prospects.

Secondary Research

The market size of companies offering satellite IoT solutions and services to various segments is based on the secondary data available through paid and unpaid sources, and by analyzing the product portfolios of the major companies in the ecosystem and rating the companies based on their performance and quality. In the secondary research process, various sources were referred to, for identifying and collecting information for the study. The secondary sources included annual reports, press releases, and investor presentations of companies; white papers and certified publications, such as the Institute of Electrical and Electronics Engineers (IEEE), satellite IoT Journal, NASA, ESA, UCS Satellite Database, Committee on Earth Observation Satellites (CEOS), Nanosats Database (Erik Kulu); and articles from recognized associations and government publishing sources research papers.

Secondary research was mainly used to obtain key information about the industry’s supply chain, the total pool of key players, market classification and segmentation according to the industry trends to the bottom-most level, regional markets, and key developments from market and technology-oriented perspective–all of which were further validated by primary sources.

Primary Research

In the primary research process, various primary sources from both supply and demand sides were interviewed to obtain qualitative and quantitative information for the report. The primary sources from the supply side included industry experts, such as Chief Executive Officers (CEOs), Vice Presidents (VPs), marketing directors, technology and innovation directors, and related key executives from various key companies and organizations providing automated testing applications across industry verticals. The primary sources from the demand side included end users, such as Chief Information Officers (CIOs), consultants, service professionals, technicians, and technologists.

In the market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market’s segments and subsegments listed in the report. Extensive qualitative and quantitative analysis was performed on the complete market engineering process to list key information/insights throughout the report.

After the complete market engineering process (including calculations for market statistics, market breakups, market size estimations, market forecasting, and data triangulation), extensive primary research was conducted to gather information, and verify and validate the critical numbers arrived at. Primary research was also conducted to identify the segmentation types; industry trends; key players; competitive landscape of different market players; and key market dynamics, such as drivers, restraints, opportunities, challenges; industry trends; and key strategies.

Satellite IoT Market Size, and Share

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Market Size Estimation

In the market engineering process, the top-down and bottom-up approaches were used along with multiple data triangulation methods to estimate and validate the size of the satellite IoT market and other dependent submarkets. Key market players were identified through secondary research, and their market share in the targeted regions was determined with the help of primary and secondary research. This entire research methodology included the study of annual and financial presentations of the top market players as well as interviews with experts for key insights (quantitative and qualitative).

The percentage share, splits, and breakdowns were determined using secondary sources and verified through primary research. All the possible parameters that affect the satellite IoT market were verified in detail with the help of primary sources and analyzed to obtain quantitative and qualitative data. This data was supplemented with detailed inputs and analysis from MarketsandMarkets and presented in the report.

Satellite IoT Market: Top-Down Approach

Satellite IoT Market Size, and Share

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Data Triangulation

After arriving at the overall market size using the market size estimation processes explained above, the market was split into several segments and subsegments. The data triangulation and market breakup procedures were employed, wherever applicable, to complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment. The data was triangulated by studying various factors and trends from both the demand and supply sides.

Report Objectives

  • To determine and forecast the satellite IoT market based on service type, frequency band, organization size, vertical, and region from 2017 to 2027, and analyze various macro and microeconomic factors that affect the market growth.
  • To forecast the size of the market’s segments with respect to five main regions: North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
  • To provide detailed information about the major factors (drivers, restraints, opportunities, and challenges) influencing the growth of the satellite IoT market.
  • To analyze each submarket with respect to individual growth trends, prospects, and contributions to the total satellite IoT market.
  • To analyze opportunities in the market for stakeholders by identifying the high-growth segments of the satellite IoT market.
  • To profile key market players (top vendors and startups); provide a comparative analysis based on their business overviews, regional presence, product offerings, business strategies, and key financials; and illustrate the market’s competitive landscape.
  • To track and analyze competitive developments, such as mergers and acquisitions, new product launches and developments, partnerships, agreements, collaborations, business expansions, and Research & Development (R&D) activities, in the market.

Available Customizations

Along with the market data, MarketsandMarkets offers customizations as per a company’s specific needs. The following customization options are available for the report:

Product Analysis

  • Product Matrix which gives a detailed comparison of the product portfolio of each company

Company Information

  • Detailed analysis and profiling of additional market players (up to 5)
Custom Market Research Services

We will customize the research for you, in case the report listed above does not meet with your exact requirements. Our custom research will comprehensively cover the business information you require to help you arrive at strategic and profitable business decisions.

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Report Code
TC 8581
Published ON
Feb, 2023
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