Overview
Internet of Things is one of the pioneering technologies in recent times. The potential of the technology has helped it earn the tag of being revolutionizing. With the use of IoT, various tech devices like smartphones and wearable devices are interconnected with cities, homes, and vehicles to collect huge volumes of data. The data is then analyzed and processed to attain insights and information that can help improve the communication process further. IoT is becoming more and more advanced with time and developments, and it is now enabling the use of mobile or smartphone devices for various activities all through simple and easy integration and synchronization. The team at Market Research Future (MRFR), have gone above and beyond to collect various insights and information to curate a report about the global satellite enabled IoT software market. It estimates through its in-depth calculation that the global market will attain a compound annual growth rate of 8% during the forecast period between 2017 and 2023.
One of the most important drivers of the market is identified to be the reduction in the electronic component size that drives economic feasibility. However, a major challenge for companies in this market is that the satellite broadband is linked with slow data transfer owing to the transmission loss in relation to the large distance from the Earth.
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Market Segmentation
The global satellite enabled IoT software market segmentation is classified on the basis of the following key dynamics: technology and application.
By technology, the market includes Ku-Band, L Band, and Ka-Band.
By application, the market includes telecommunication, aerospace, military, healthcare, transportation & logistics, and agriculture.
Competitive Landscape
The global satellite enable IoT market includes numerous key and prominent players like SES S.A (Luxembourg), Orbital ATK Inc (U.S.), Eutelsat S.A (France), Space Exploration Technologies Corp (U.S.), Inmarsat Plc (U.K), Maxar Technologies Ltd (Canada), Thuraya Telecommunications Company (UAE), Kepler Communications, Inc. (Canada), Lockheed Martin (U.S.), Thales Alenia Space (France), NanoAvionics (Lithonia), and others.
Regional Segmentation
The global Satellite Enabled IoT Software Market is regionally segmented into the following major regions in the world: Asia Pacific, Europe, North America, and the Rest of the World.
Europe holds the primal spot in the market standings and is expected to continue its dominance and retain its hold of the market in the forthcoming years of the forecast period. The European region comprises of various key and prominent players. This aids the region in maintaining a strong grip over the global market. Countries like the UK and France are two key dominators to the overall regional market. Add to this, it is worth mentioning that Europe is already a mature region in terms of IoT connectivity. The market is expected to most likely help numerous organizations and public sectors to reach the remote and untapped areas in this region.
Following Europe, the North American region holds the second largest share of the market. The region is identified to hold a key value in the forthcoming years by attaining significant growth during the forecast period. Herein, countries like the US and Canada are adopting and implementing IoT technologies in rapid fashion as compared to other nations and enterprises are continuously innovating to produce cost-effective portfolio of solutions. Private companies, like for example Space X of Elon Musk, are constantly stirring up new innovations and adopting new technologies to enhance the consumer experience to the further. The Asia Pacific region is expected to also grow at a fast-pace in the coming years. This is primarily due to the influx of technological investments by major economies like Japan, China, and India. The Middle East and African region is expected to garner the least market growth due to the lack of awareness and lack of requisite facilities and infrastructure.
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Industry News
March 19th, 2019, Myriota, a nanosatellite IoT connectivity vendor, has announced the launch of its developer toolkit that is aimed at surging the availability of IoT technology across the global technology community and enabling developers to incorporate direct-to-satellite communications technology.
November 28th, 2019, Hiber, a Dutch satellite company announced the launch of its first HiberBand nano-satellites, thereby delivering connectivity to remote-based locations across the globe. The project is backed by the government of Dutch and claims to the first ever truly global satellite solution.
Intended Audience
- Satellite Enabled IoT software services providers
- Software Solution providers
- Content services providers
- Data Analytics vendors
- Cloud Service providers
- Project accounting solution providers
- Value-added resellers
- Research Firms
LIST OF TABLES
Table1 World Population By Major Regions (2017 To 2030)
Table2 Global Satellite Enabled IoT Market: By Region, 2017-2023
Table3 North America Satellite Enabled IoT Market: By Country, 2017-2023
Table4 Europe Satellite Enabled IoT Market: By Country, 2017-2023
Table5 Asia-Pacific Satellite Enabled IoT Market: By Country, 2017-2023
Continued……
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LIST OF TABLES
Table1 World Population By Major Regions (2017 To 2030)
Table2 Global Satellite Enabled IoT Market: By Region, 2017-2023
Table3 North America Satellite Enabled IoT Market: By Country, 2017-2023
Table4 Europe Satellite Enabled IoT Market: By Country, 2017-2023
Table5 Asia-Pacific Satellite Enabled IoT Market: By Country, 2017-2023
Continued……
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