Expanding IoT satellite market to tap 26.7 million subscribers by the year 2028
In the dynamic world of technology, the satellite IoT communications market is experiencing a significant surge, with collaborations between satellite operators and mobile operators paving the way for new hybrid satellite-terrestrial connectivity opportunities.
According to Johan Fagerberg, a specialist in the field, this year has seen the emergence of numerous significant initiatives in the satellite IoT connectivity market. Major players such as Iridium, Orbcomm, Viasat (Inmarsat), and Globalstar, supported by various mobile network operators, are leading the charge.
These new initiatives are diverse, with some relying on proprietary satellite connectivity technologies to support IoT devices, while others are starting to use terrestrial wireless IoT connectivity technologies like 3GPP 4G/5G, LoRaWAN, and Bluetooth. Examples of these include Astrocast, AST SpaceMobile, CASC/CASIC, E-Space, Hubble Network, Kepler Communications, Kineis, Ligado Networks, Lynk, Omnispace, Skylo, Swarm Technologies (SpaceX), and Totum.
One of the most active NTN providers for hybrid cellular/satellite offerings is Skylo, working with Deutsche Telekom, BICS, emnify, floLIVE, Monogoto, O2 Telefónica (Germany), Particle, Soracom, Transatel, and 1GLOBAL (Truphone).
Iridium, with 1.8 million satellite IoT subscribers, has seen a 17% growth in its subscriber base over the past year. Orbcomm, an end-to-end solution provider, had 715,000 million satellite IoT subscribers at the end of Q4-2023, with its networks and those of Viasat (Inmarsat) combined. Globalstar also reached 0.48 million subscribers in the same timeframe.
The global satellite IoT subscriber base surpassed 5.1 million in 2023, and the market is growing at a compound annual growth rate (CAGR) of 39.2% from 2023 to 2028. This growth is driven by the need for a complement to terrestrial cellular and non-cellular networks in remote locations, serving various applications such as agriculture, asset tracking, maritime and intermodal transportation, oil and gas industry exploration, utilities, construction, and governments.
Interestingly, only about 10% of the Earth's surface has access to terrestrial connectivity services. This gap is where satellite IoT communications step in, providing coverage to the remaining 90%. Other players with connections in the tens of thousands include Myriota in Australia, Kineis in France, and Thuraya in the UAE.
Additional satellite IoT operators partnering with mobile operators and MVNOs include Sateliot, Starlink, OQ Technology, Omnispace, Lynk, Intelsat, Viasat, and AST SpaceMobile. Many of these new initiatives are based on low-earth orbit nano satellite concepts.
Berg Insight, a specialist IoT analyst firm, recently released a new research report on the global satellite IoT communications market. The report delves into the market's growth, trends, and future prospects, offering valuable insights for stakeholders in the industry.
As we move forward, it's clear that the satellite IoT communications market is poised for significant growth, bridging the connectivity gap in remote locations and driving innovation in various industries.
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