MarketsandMarkets forecasts the global Satellite IoT Market size is expected to grow USD 1.1 billion in 2022 to USD 2.9 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 21.9% during the forecast period. Due to the increase in the need for trusted and cost-effective communication services, the satellite IoT service market is growing at a huge rate.
The major vendors covered in the 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). These players have adopted various growth strategies, such as partnerships, business expansions, mergers and acquisitions, agreements, and collaborations, new product launches to expand their presence in the satellite IoT market. Partnerships and new product launches have been the most adopted strategies by major players from 2018 to 2022, which helped them innovate their offerings and broaden their customer base.
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ORBCOMM a global leader and innovator in the industrial Internet of Things, provides solutions that connect businesses to their assets to deliver increased visibility and operational efficiency. It was acquired by GI Partners in September 2021. It offers a broad set of asset monitoring and control solutions, including seamless satellite and cellular connectivity, unique hardware, and powerful applications, all backed by end-to-end customer support, from installation to deployment to customer care. ORBCOMM’s satellite and dual-mode satellite-cellular terminals deliver complete visibility and control of industrial assets operating in remote areas, with global satellite connectivity over Inmarsat's IsatData Pro network.
Astrocast is a company that deals in the satellite IoT industry. It provides leading integrated solutions that enable cost-effective SatIoT communications. The company offers satellite services from satellite infrastructure, fully designed, assembled, and in-house operated. Astrocast offers a bidirectional and highly secure connection to any IoT device on Earth. The company delivers its services to industries, such as maritime, environmental, mining, oil and gas, connected vehicles, agriculture and livestock, and asset monitoring. Astrocast is developing global nanosatellite constellations and low-power modules to ubiquitously connect, efficiently and at ultra-low-cost, millions of IoT devices in remote, rural and maritime areas.
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
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