The global satellite IoT communications sector is experiencing steady growth, with the number of satellite IoT subscribers projected to reach 23.9 million units by 2027. This represents a compound annual growth rate (CAGR) of 39.6 percent. Currently, only 10 percent of the Earth’s surface has access to terrestrial connectivity services, highlighting the potential for satellite-based IoT communications.
Satellite connectivity is particularly beneficial in remote areas where terrestrial networks are limited. It is used in various applications such as agriculture, asset tracking, maritime and intermodal transportation, oil and gas industry exploration, utilities, construction, and government operations.
The market is dominated by established satellite operators such as Iridium, Orbcomm, Inmarsat, and Globalstar. Iridium is the largest satellite IoT network operator with 1.5 million subscribers. Orbcomm, now a solution provider, reached 1.1 million subscribers at the end of 2022. Globalstar has 0.44 million subscribers. Other players include Myriota, Kineis, and Thuraya.
In addition to these established operators, several emerging initiatives have entered the market. Examples include Astrocast, AST SpaceMobile, Fleet Space Technologies, Kepler Communications, Ligado Networks, and Starlink. These projects are based on low-earth orbit nano satellite concepts.
While some initiatives rely on proprietary satellite connectivity technologies, others are integrating terrestrial wireless IoT connectivity technologies into their networks. Collaborations between satellite operators and mobile operators are also becoming common.
The “Satellite IoT Communications Market – 3rd Edition” report offers a comprehensive overview, including operator strategies, market forecasts, industry trends, and regional developments. It provides insights into the growth and evolution of the global satellite IoT market in the next five years.