Satellite Enabled IoT Software Market Synopsis
According to a new report published by Introspective Market Research, titled, “Satellite Enabled IoT Software Market by Application and Packaging Type: Global Opportunity Analysis and Industry Forecast, 2024–2032,”
The global Satellite Enabled IoT Software market size was valued at $10.24billion in 2023, and is projected to reach $20.16 billion by 2032, registering a CAGR of 7.82% from 2024 to 2032.
Satellite IoT means using satellite communications expertise to enable connectivity in IoT strategies. The Internet of Things involves connecting various devices and sensors to the Internet to collect and exchange data, enabling remote monitoring, control, and automation of many functions. Satellite IoT offers a solution to connect devices located in remote or harsh environments where traditional global networks may be inaccessible, impractical, or exclusive.
The Internet of Things has become a transformative force in technology, providing interconnected physical devices that can collect and exchange data. The development of the satellite IoT created a significant leap forward and expanded IoT connectivity beyond the limitations of terrestrial networks.
Satellite IoT extends the capabilities of the traditional Internet of Things by relying on communication protocols such as Wi-Fi, Bluetooth, and cellular networks that use satellites to extend coverage. This approach is particularly important in remote or rural areas where land infrastructure is limited, opening up many possibilities, from real-time agricultural monitoring in isolated areas to marine navigation. The guide covers overcoming the challenges of satellite IoT and its practical applications in various industries, combining technical knowledge with real-world examples. This is an essential resource for those looking to adopt this technology or keep up with its innovations. It tries to unravel the mystery of satellite IoT and emphasizes its importance in the digital age.
In the digital world, few things are as unsatisfying as losing signal or seeing the dreaded "wheel of death" on your laptop or smartphone screen. Since so much of everyday life depends on being online, this can be disruptive. Despite great advances in connectivity technology over the past three decades, with approximately 95% of the world's population having access to a mobile phone network, many rural areas still lack adequate network infrastructure. This makes intelligence a priority in network coverage in remote areas where most people live and work. The rapid growth of IoT in recent years has increased the need to extend coverage to more urban areas that are out of reach of cellular networks. This creates attention that limits the capability of some IoT applications.
Advanced cities are urban areas that use technology and data to improve people's quality of life, the efficiency and sustainability of economic growth and economic growth. These cities use consistent techniques to collect and examine data in real time, allowing them to make informed choices and improve the source. Smart cities depend on the transformation of technologies such as sensors, IoT devices, artificial intelligence (AI) and machine learning. It can be used to promote urban functions such as transportation, energy, waste management and public safety. Smart Transportation uses IoT sensors to collect data on traffic flow, parking, and public transport, optimize routes, and reduce congestion. This information is used to improve safety by detecting and informing drivers of potential accidents.
Global Satellite Enabled IoT Software Market, Segmentation
The Satellite Enabled IoT Software market is segmented based on type, End Use Industry, and region.
Type:
The type segment is further classified into L Band, Ku-Band, Ka-Band. Among these, the L Band sub-segment accounted for the highest market share in 2023. L-band has traditionally been considered an ideal alternative to narrowband connections due to data transfer rates and low advertising fees. Ku-group is playing a growing role as the M2M and IoT phenomenon progresses. As data is generated by billions of sensors, it is necessary to collect and transmit data from inaccessible locations to the core network. For many M2M and IoT applications, L-band is a less attractive plan because Ku-band allows service providers to use a large number of open Ku-band satellites, which generally offer lower coverage costs than L-band.
End Use Industry:
The End Use Industry segment is further classified into Military, Aerospace, Telecommunication, Transportation & Logistics, Healthcare Agriculture, Others. Among these, Military and Transportation & Logistics sub-segment is anticipated to show the fastest growth by 2032. The inaccessibility of internet services in remote countries, deserts, oceans, and mountains has increased the strong need to adopt satellite-enabled IoT in the defense sector. These connected devices include GPS and tracking systems, health and personal monitoring devices, and timely maintenance of equipment for strategic research. To achieve better insights, continuous attention, better security, and improved reliability, the logistics industry relies heavily on satellite-based IoT technology. Transporters and carriers use these devices to track and locate vehicles or containers in case of incidents.
Region:
The Satellite Enabled IoT Software market in Asia-Pacific is projected to show the fastest growth by 2032. In the Asia-Pacific region, industrial growth is booming mainly in countries such as China and India. These industries require reliable explanations of benefits tracking, remote monitoring, and data collection, often in geographically interesting locations. Satellite-based IoT is perfect for this important gift connection where traditional solutions may fall short. Economies in the Asia-Pacific region are growing and the demand for reliable internet connections is increasing. This is especially true in remote areas where traditional terrestrial networks are inadequate or unavailable. Satellite-based IoT offers an attractive solution that bridges connectivity gaps and enables businesses and individuals to participate in the digital economy.
Some of The Leading/Active Market Players Are-
- Orbcomm (US)
- Iridium Communication (US)
- Globalstar (US)
- Astrocast (Switzerland)
- Inmarsat Global (UK),
- Airbus (Netherlands)
- Intelsat (US)
- Thales (France)
- Eutelsat (France)
- Northrop Grumman (US) and Other Active Players
Key Industry Developments
- In February 2023, Hispasat, a Spanish communications satellite provider, launched the Amazonas Nexus, bringing a new era in satellite communications. It is a high-performance geostationary satellite that will enable high-speed internet connectivity throughout the Americas, the northern and southern Atlantic corridors, and off-the-grid locations like Greenland and the Amazon rainforest. It was specifically created to provide connections on ships and airplanes and would significantly aid in bridging the digital gap in Latin America quickly and effectively.
- In February 2023, Cobham Satcom and RBC Signals, a global satellite data communication solutions provider, have announced an extended agreement to deploy Cobham Satcom's adaptable Tracker 6000 and 3700 series ground stations globally. The collaborative partnership between the two parties will dramatically expand RBC Signals' vast owned and partner ground network, providing integrated communication services to NGSO missions and constellations for Earth Observation, IoT, and Space Situational Awareness.
Key Findings of the Study
- The Satellite Enabled IoT Software market is expected to reach $20.16 billion by 2032, driven by the need for connectivity in remote areas.
- Military, transportation & logistics will see the fastest growth due to their reliance on reliable data in remote locations.
- Asia-Pacific region is predictable to grow the fastest due to successful industries and rising demand for internet connectivity.
