Satellite Communication is composed of a space segment, a ground segment, and a user segment. Satellite communication technology (Satellite communication technology) is a communication between two or more terminals that uses artificial earth satellites as relay stations to forward radio waves. From the perspective of the Internet of Things, the essence of the satellite Internet of Things is to use aerospace technology to realize the commercial value of the global Internet of Everything with the help of social and capital resources.
The global satellite communication for the IoT network market will grow at a noteworthy CAGR during the forecast period, 2020-2027. The growth of the market is driven by secure and high-speed wireless communication and the increasing demand for higher flexibility at a low cost. Additionally, the surge in demand for IoT service, which reduces the consumer expenditure and has increased the financial viability of the consumer terminals are projected to drive the growth of the market in the forecast span. Further, the increasing demand for fast and flexible wireless communication across various industries such as transportation and logistics, natural resources, heavy industries, aviation, and government and military will spur the global satellite communication for IoT network market size. Also, the upsurge in demand for IoT end-device connectivity is anticipated to fuel the demand for satellite communication for IoT across the globe in the coming years.
Moreover, the growing application of satellite IoT communication in oil and gas companies to monitor wellheads, pipelines, and discharge sensors will augment the market’s growth in the analysis period. The satellite-based Internet of Things can effectively supplement the ground Internet of Things in areas where ground signals cannot be covered. In addition to container ocean transportation, it can also be used in marine island communications, oil and power supervision, agricultural machinery data collection and transportation, and construction machinery information transmission. Furthermore, the satellite based-IoT will change environmental monitoring, agriculture, public infrastructure management, and anything related to wide-area remote sensing. The availability of low cost, low power global connectivity will surge the total number of connected sensors and data-points in a variety of global environmental, societal, industrial, agricultural, and logistical applications.
With the rapid and iterative development of communication technologies, especially the opening of 5G construction and the introduction of IoT communication standards including LoRa, NB-IoT, etc., the Internet of Everything has already had an industrial technology foundation. With the advancement of artificial intelligence, cloud computing, big data, edge computing and other technologies, the Internet of Things, as the execution end of data collection, environment perception and control, continues to expand its application scenarios. Therefore, as a powerful supplement to the Internet of Everything, satellite communications, which are not affected by the geographical environment and climate environment, have all-weather service capabilities, and have gradually gained the favor of the industry.
Based on the services, the global satellite communication for IoT network market categorized into aviation tracking & surveillance, remote asset management, earth observation, analytics, and others. The remote asset management will witness remarkable growth in the forecast period. It is primarily attributed to the remote asset universal coverage anywhere on earth, including at sea and in remote and underpopulated areas that lack terrestrial infrastructure. These are applicable for manufacturing, automotive and transport, supply chain, field service, environmental monitoring, security, agriculture.
The earth observation will grow with a lucrative CAGR in the estimated period due to earth observation provides services ranging from near-real-time image acquisition to data interpretation using a host of satellite platforms.
Based on the end-user industry, the global satellite communication for IoT network market segregated into military, oil & gas, aviation, maritime, land-transportation, manufacturing, and others. The maritime captured the largest share in 2019 and projected to dominate the global satellite communication for the IoT network market by 2027. It is due to its help in monitoring fishing buoys, fisheries, container tracking, bilge, and exhaust discharge.
The oil & gas will grow at a significant rate in the forecast period because it helps companies monitor wellheads, pipelines, and discharge sensors.
Based on geography, the global satellite communication for IoT network market segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. North America accounted for the largest share in the global satellite communication for the IoT network market in 2019. It is due to the rise in initiatives in manufacturing satellites with the help of 3D printing and the launch of technologically advanced satellites that provide inherent network redundancy and minimize the line-of-sight issues for continuous global coverage.
Europe occupied a prominent share of the satellite communication for the IoT network market and projected to remain dominant by 2027. Due to the presence of key manufacturers, and service providers involved in the satellite communication for IoT networks market, and the surge in demand for IoT based satellite in asset monitoring, and fleet management in various industries.
Companies such as Myriota, Aistech, SAS, Open Cosmos, Astrocast, Fleet Space Technologies, Hiber, Analytical Space, Kepler Communications, Commsat Technology Development Co Ltd, KLEO, Kinesis, NanoAvionics, Accion Systems, Phase Four, Syrlinks, Vector, LinkSpace, Helio Wire, Kymeta, and Phasor are the key players in the global satellite communication for IoT network market.
By End-User Industry