7/15/2021 Satellite IoT Market Key Players, Size, Trends, Opportunities and growth Analysis – Facts and Trends

Satellite IoT Market Key Players, Size, Trends,

Opportunities and growth Analysis
JULY 15, 2021 BY SURENDRA CHOUDHARY  ♥

Satellite IoT: Introduction

Satellite IoT is commonly referred to as internet over satellite connections. Satellite IoT is a
complex network and connects physical things such as sensors and actuators to the internet.
Satellite IoT is the backbone to drive secure connection of different devices to the internet across
sectors such as automobile, energy & utilities, oil & gas, agriculture, and forestry.
Satellite IoT is a complete system that uses edge and cloud computing to create a secure
connection with remote assets, inaccessible assets, and critical assets.
Satellite communication supports IoT applications in various areas, including deep sea, remote
sites, and mining locations, where cellular connectivity is unavailable.
The global satellite IoT market is projected to expand at a rapid pace during the forecast period,
due to advancement in technologies across the globe.

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Global Satellite IoT Market: Dynamics

Global Satellite IoT Market: Key Drivers & Restraints

Surge in adoption of robust and dynamic business models, and a growing shift in investments
and research from the public to private organizations is a major factor likely to accelerate the
satellite IoT market in the next few years.
Rise in demand for better communication and interaction with the physical environment to
accomplish a broad range of activities in a more efficient and informed manner across the globe
is estimated to boost the growth of the satellite IoT market during the forecast period.
Additionally, rise in adoption of satellite IoT among various sectors such as oil & gas, and
agriculture, to increase connectivity is projected to boost the demand for satellite IoT across the
globe.
Rising demand to fill the gap in tracking issues related to pipeline leakages is also expected to
propel the satellite IoT market during the forecast period.
Increase in adoption of smart technologies, and applications such as autonomous vehicles and
autonomous vessels is anticipated to boost the market.
At present, various sectors are focused on wireless technologies, and on increasing productivity
and reducing losses which is expected to create new opportunities for the satellite IoT market
during the forecast period.

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7/15/2021 Satellite IoT Market Key Players, Size, Trends, Opportunities and growth Analysis – Facts and Trends

However, technology fragmentation and strong competition from terrestrial infrastructure is the
major factor projected to hinder the global satellite IoT market in the next few years.

Impact of COVID-19 on the Global Satellite IoT Market

Increasing cases of COVID-19 across the globe is resulting in economic slowdown. Developed
countries are strongly affected by this pandemic. Most manufacturing or production of goods
has been temporarily suspended all over the world. Businesses have been adversely impacted in
most countries due to partial or full lockdown. This in turn is projected to indirectly hamper the
global satellite IoT market in the next few years. Lack of industrial activity is expected to result
in low cash flows, further hampering the funding of projects.

North America to Hold Major Share of the Global Satellite IoT

Market

In terms of region, the global satellite IoT market can be divided into North America, Europe,
Asia Pacific, Middle East & Africa, and South America
North America dominated the global satellite IoT market in 2019. The U.S. is the key market in
the region due to the increasing adoption of satellite IoT connectivity in various sectors such as
oil & gas, transport & logistics, and energy & utilities.
The satellite IoT market in Asia Pacific is projected to expand at a rapid pace during the forecast
period. This can be attributed to increasing digitalization & infrastructure spending across
countries such as China, Japan, and India in the region.

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Global Satellite IoT Market: Competition Landscape

Several local, regional, and global players are active in the satellite IoT market with a strong
presence. Rapid technological advancements have created significant opportunities in the global
satellite IoT market. Satellite operators are increasingly focusing on collaboration, and mergers and
acquisition to bring forth such services and hardware that can unleash the full potential of IoT. For
instance, OQ Technology, a Luxembourg based company, introduced satellite IoT solutions
primarily focused on the oil & gas sector.

Key Players Operating in the Global Satellite IoT Market

Hiber
Astrocast
Kineis

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7/15/2021 Satellite IoT Market Key Players, Size, Trends, Opportunities and growth Analysis – Facts and Trends

OQ Technology
Iridium Communications Inc.
Inmarsat plc
Eutelsat Corporation
Vodafone Group plc
Intelsat Corporation
Globalstar, Inc.
ORBCOMM Inc.
Cisco System Inc.
Microsoft Corporation
Verizon Communications

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