How big is the Satellite IoT Communication Market?

The Satellite IoT Communication Market size is expected to reach USD 1.87 billion in 2024 and grow at a CAGR of 19.76% to reach USD 4.61 billion by 2029. Read More

What is the current Satellite IoT Communication Market size?

In 2024, the Satellite IoT Communication Market size is expected to reach USD 1.87 billion. Read More

Who are the key players in Satellite IoT Communication Market?

Iridium Communications Inc, Orbcomm, Inmarsat Global Limited, Globalstar Inc and Fleet Space Technologies Private Limited are the major companies operating in the Satellite IoT Communication Market. Read More

Which is the fastest growing region in Satellite IoT Communication Market?

Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in Satellite IoT Communication Market?

In 2024, the North America accounts for the largest market share in Satellite IoT Communication Market. Read More

What years does this Satellite IoT Communication Market cover, and what was the market size in 2023?

In 2023, the Satellite IoT Communication Market size was estimated at USD 1.56 billion. The report covers the Satellite IoT Communication Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Satellite IoT Communication Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Satellite IoT Communication Market Size & Share Analysis - Industry Research Report

Satellite IoT Communication Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Satellite IoT Communication Market is segmented by Type of Orbit (Low Earth Orbit (LEO), Medium Earth Orbit (MEO), and Geostationary Orbit (GEO)), by Geography (North America, Europe, Asia-Pacific, and the Rest of the World). The market sizes and forecasts are provided in terms of value in USD for all the above segments.

Satellite IoT Communication Industry Overview

The satellite IoT communication market is highly competitive and consists of several major players, such as Astrocast, Inmarsat Technologies, Kepler Communications, Ligado Networks, Galaxy Space, and Geely. Only some significant players currently dominate the market in terms of market share. With a prominent market share, these major players focus on expanding their customer base across foreign countries. These companies leverage strategic collaborative initiatives to increase their market share and profitability. Some of the key developments are:-

In March 2023, Quectel Wireless Solutions, a worldwide IoT solutions provider, launched the CC200A-LB satellite module for IoT industries that uses satellite IoT connectivity offered by ORBCOMM, a worldwide provider of IoT communications and solutions. The module is mainly built to deliver reliable global connectivity and coverage at a cost-effective price point and with ultra-low latency. It is a perfect solution for a vast spectrum of applications, including transportation, maritime, heavy equipment, mining, agriculture, and oil and gas monitoring.

Marlink, a global satellite and terrestrial network solution provider, and OQ Technology, the low Earth orbit (LEO) 5G IoT satellite communications company, signed an MoU for a global distribution partnership towards the distribution of Satellite 5G connectivity and hardware that is compatible with an existing cellular network and based on the 3gpp 5g non-terrestrial network cellular standard.

T-Mobile US and Starlink announced a technology partnership to develop a direct satellite-to-device proposition, which was expected to launch by 2024. Similarly, US-based Omnispace collaborated with the Philippines' mobile operator Smart, a subsidiary of PLDT, to explore interoperability between Smart's 5G network and Omnispace's LEO satellites, using 3GPP-compliant 5G NTN standards.