According to a market report by Lucintel, the future of the global satellite IoT market looks promising with opportunities in the oil and gas, transportation and logistics, energy and utility, agriculture, maritime, healthcare, and military & defense sectors. The global satellite IoT market is expected to reach an estimated $2.11 billion by 2028 with a CAGR of 23.0% from 2023 to 2028. The major drivers for this market are substantial need for hybrid satellite-terrestrial connectivity, widespread use of this technology in automated business processes in agricultural sector, and emergence of IoT deployed satellite with low earth orbit-based connectivity.

In this market, L-band, Ku & Ka-band, and S-band are the major segments of global satellite IoT market by frequency band. Lucintel forecast that L-band is expected to witness highest growth over the period due to its significant application in radars, GPS, radio, telecommunications, aircraft surveillance, and maritime industries.
Within this market, agriculture is expected to witness the highest growth over the forecast period due to significant demand for IoT based satellite for smart greenhouses and precision agriculture and growing requirement for environmental, weather monitoring, and livestock monitoring.

North America will remain the largest region over the forecast period due to presence of key players, growing demand for earth observation satellites, and availability of a robust satellite framework in the region.

ORBCOMM, Iridium Communications, Astrocast, Airbus SE, Globalstar, Thales Group, and Eutelsat Communications are the major suppliers in the global satellite IoT market.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or write us at [email protected]