Market Synopsis:
IoT industry has grown multifold over time. The number of connected devices is estimated to be around a billion mark at present. However, with such huge developments, the technology is facing problems of geographical limitations. Thus, satelite enabled software has been integrated with IoT technology to overcome the limitations. Market Research Future MRFR’s observation unravels that the global satellite enabled IoT software market is expected to mark 8% CAGR across the assessment period 2017 to 2023.
Space-based communication is the key to the development of a connection between IoT devices scattered over a large geographical area. Thus, the market is assured to flourish over the next couple of years. In addition, satellite communications are expected to revolutionize the IoT industry. The report suggests that it is expected to accelerate growth of the IoT industry. This, in turn, is projected to catalyze the expansion of the satellite enabled IoT software market in the foreseeable future. Satellite operators are venturing into the market to unleash the untapped potential of the technology. It is anticipated to drive the proliferation of the satellite enabled IoT software market.
The rising demand for wearable devices is prognosticated to affect the growth curve of the satellite enabled IoT software market positively in the upcoming years. In addition, the trend of miniaturization of electronics is also supposed to impact the market’s growth pattern favorably over the review period. However, the market players are still trying to overcome the problem of slow data transfer due to loss in transmission. It can restrain the expansion of the market in the forthcoming years.
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Competitive Dashboard:
Eutelsat S.A (France), Maxar Technologies Ltd (Canada), Inmarsat Plc (U.K), Orbital ATK Inc (U.S.), SES S.A (Luxembourg), Space Exploration Technologies Corp (U.S.), Lockheed Martin (U.S.), Thales Alenia Space (France), NanoAvionics, Kepler Communications, Inc (Canada), and Thuraya Telecommunications Company (UAE) are some of the major developers operating in the global satellite enabled IoT software market. These market players are investing in next-gen technologies to capitalize on the untapped potential of the global market. In addition, they are also focusing on the expansion of their regional base to generate more profits. It is anticipated to intensify the competition in the satellite enabled IoT software market in the years to come. With the growth of the market, new entrants are expected in the near future. It is further prognosticated to support the robust competition among the players over the next couple of years. The inorganic approaches expected to be utilized by key players for growth in the upcoming years are – collaborations with end-users, agreements, mergers and acquisitions, partnerships, and strategic alliances among others.
Market Segmentation:
On the basis of technology, the Satellite Enabled IoT Software Market has been divided into L Band, Ka-Band, and Ku-Band.
On the basis of application, the satellite enabled IoT software market has been segmented into healthcare, military, telecommunication, aerospace, transportation & logistics, and agriculture among others.
Regional Analysis:
The analysis offers a detailed regional study of the global satellite enabled IoT software market on the basis of key regions identified. The four regional segments profiled are – North America, Asia Pacific (APAC), Europe, and the Rest of the World (RoW). The valuations of every regional and country-level segment are covered in this report. North America is observed to hold the dominant share of the satellite enabled IoT software market on the global front. The region has adopted advanced space-based communication technology. This, in turn, is anticipated to drive the growth of the market in the region over the next few years. Asia Pacific is also projected to expand at a fast pace. The regional market is anticipated to be driven by rising investments in latest technologies in India, Japan, and China.
LIST OF TABLES
Table1 World Population By Major Regions (2019 To 2030)
Table2 Global Satellite Enabled IoT Market: By Region, 2019-2023
Table3 North America Satellite Enabled IoT Market: By Country, 2019-2023
Table4 Europe Satellite Enabled IoT Market: By Country, 2019-2023
Table5 Asia-Pacific Satellite Enabled IoT Market: By Country, 2019-2023
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LIST OF FIGURES
FIGURE 1 Global Satellite Enabled IoT Market Segmentation
FIGURE 2 Forecast Methodology
FIGURE 3 Five Forces Analysis Of Global Satellite Enabled IoT Market
FIGURE 4 Value Chain Of Global Satellite Enabled IoT Market
FIGURE 5 Share Of Global Satellite Enabled IoT Market In 2019, By Country (In %)
Continued……
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