Satellite IoT Market Set to Soar: Projected to Reach USD 7.95 Billion by 2030 with a CAGR of 22.7%

The global Satellite Internet of Things (IoT) market size is experiencing unprecedented growth, with projections indicating a surge from USD 1.88 billion in 2023 to USD 7.95 billion by 2030, reflecting a robust Compound Annual Growth Rate (CAGR) of 22.7%.

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Market Dynamics and Growth Drivers

The expansion of the Satellite IoT market is driven by the increasing demand for reliable connectivity in remote and underserved regions. Industries such as agriculture, mining, oil & gas, maritime, and logistics are leveraging satellite IoT solutions for asset tracking, environmental monitoring, and operational efficiency. The integration of Low Earth Orbit (LEO) satellite networks, offering high bandwidth and low latency, further propels market growth. ​

Competitive Landscape

Key players shaping the Satellite IoT market include Iridium Satellite LLC, ORBCOMM Inc., Globalstar, Inc., Northrop Grumman Corporation, Swarm Technologies Inc., Inmarsat Group, Kepler Communications Inc., Myriota Pty Ltd., Thales S.A., and Airbus SE. These companies are at the forefront of technological advancements, strategic partnerships, and global expansions to meet the escalating demand for satellite IoT solutions

Regional Demand and Growth

The Asia-Pacific region is witnessing significant growth in the Satellite IoT market, driven by rapid industrialization and the need for connectivity in remote areas. Countries like China, Japan, South Korea, Vietnam, Thailand, and Singapore are investing heavily in satellite IoT infrastructure to support various industries. In North America, the United States continues to lead in market share, attributed to advanced technological adoption and substantial investments in satellite communication networks. ​

Country-Specific Developments

Vietnam: Expansion Opportunities in Satellite IoT

Vietnam is emerging as a potential hub for satellite IoT applications, particularly in agriculture and environmental monitoring. The government's focus on digital transformation and smart agriculture initiatives presents opportunities for satellite IoT integration.​

Thailand: Growth in Satellite IoT Applications

Thailand's push towards Industry 4.0 and smart city projects is fostering the adoption of satellite IoT solutions. Applications in transportation, logistics, and public safety are gaining momentum.​

Japan: Technological Advancements Driving Satellite IoT

Japan's advanced technological landscape and investments in space technology are accelerating the development and deployment of satellite IoT solutions, especially in disaster management and maritime sectors.​

South Korea: Rapid Growth in Satellite IoT Market

South Korea is projected to register the highest CAGR in the Satellite IoT market from 2025 to 2030, reaching USD 77.4 million by 2030. The country's emphasis on smart infrastructure and IoT integration across industries is a key growth driver. ​

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Singapore: Strategic Developments in Satellite IoT

Singapore-based IoT company UnaBiz acquired the Sigfox 0G technology and its French network operations in April 2022, enhancing its capabilities in low-power wide-area (LPWA) networking for satellite IoT applications. ​

United States: Consolidation and Market Leadership

The United States maintains a dominant position in the Satellite IoT market, driven by technological innovation and strategic mergers. Notably, Viasat completed its acquisition of Inmarsat in May 2023, strengthening its global satellite communication services.

China: Advancements in Satellite IoT Infrastructure

China's investments in satellite technology and IoT infrastructure are propelling the growth of satellite IoT applications across various sectors, including agriculture, transportation, and environmental monitoring.​

Europe: Trends in Satellite IoT Adoption

European countries are embracing satellite IoT solutions for applications in smart agriculture, logistics, and environmental monitoring. The region's focus on sustainability and technological innovation supports market expansion.​

Key Recent Developments

• In May 2023, Viasat completed its acquisition of Inmarsat, enhancing its satellite communication capabilities.
• In April 2022, UnaBiz acquired the Sigfox 0G technology, expanding its LPWA network services for satellite IoT applications.
• In June 2023, KORE Wireless acquired the IoT and Wireless Business unit from Twilio, strengthening its position in the satellite IoT market. ​
• Conclusion

The Satellite IoT market is poised for substantial growth, driven by technological advancements, strategic partnerships, and increasing demand for connectivity in remote areas. Stakeholders across industries are investing in satellite IoT solutions to enhance operational efficiency and data-driven decision-making.

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