Research and Markets recently predicted that satellite IoT would enjoy a $4 billion increase in revenue over the next five years. They went on to explore the various industries and design improvements which they believed would lead to this growth.
The company pointed to increased demand for services from the logistics, transport, agriculture and environmental monitoring sectors as anticipated drivers of the overall market.
Research and Markets also predicted the deployment of smaller satellites to play a part in a hike of total revenue from an expected $2.4 billion in 2025 to $6.4 billion by 2030.
It pointed to nano and cube-type satellites as examples, noting these are increasingly being used to boost IoT coverage.
Other elements it identified include the rise of AI and related analytics, along with “burgeoning” satellite IoT use by maritime and aviation sectors.
Research and Markets predicted revenue to book a CAGR of 22.3 per cent across its forecast period: the sum this year is tipped to hit $2.8 billion.
The details feature in its Satellite IoT Market Global Report 2026, which covers key players including Sateliot, Iridium Communications, Ligado Networks and Airbus.
Service providers are tipped for a growing market opportunity as low-power, long-range IoT communication devices spur demand: Research and Markets singled smart city applications out as a particular area of focus for such units.
Source: Mobile World Live
Image Credit: Stock Image
