Satellite-Based IoT Service Market Size is valued at 298.45 million in 2024 and is predicted to reach 392.20 million by the year 2034 at a 2.8% CAGR during the forecast period for 2025-2034.
Satellite IoT describes the use of satellite communication networks and services to connect terrestrial IoT sensors and end nodes to a server, both in addition to and instead of terrestrial communication networks. Because there is no need to separate terrestrial and satellite communication alternatives, consumers and industrial users can benefit from lower operating expenses. Modern businesses and organizations rely on IoT to enable millions of intelligent data conversations, assisting them in tracking, monitoring, and managing assets, ensuring worker safety, and improving remote operations. The rise in the terrestrial IoT network, along with cheaper LEO-based satellite connectivity, has created a significant demand for the creation of satellite-based IoT services during the forecast period.
However, the worldwide economy was strengthened by the COVID-19 epidemic, which drove companies to deploy role-based permit systems to protect corporate data and networks. The market experienced tremendous growth due to the ongoing spike in demand for wireless and security systems, particularly in the information and communication industry.
The global satellite based IoT service market is segmented on the basis of service and terminal. Based on service, the market is segmented as commercial, defense, and civil government. The commercial segment includes transport & logistics, aviation, agriculture, marine, energy and utilities, oil and gas, automotive, healthcare, retail, natural resource monitoring, and others (construction, media, plant engineering, disaster management, infrastructure, and NGO). By defense, the market is segmented into land, airborne, and naval. The terminal segment includes commercial, defense, and civil government.
The defense category is expected to hold a major share of the global Global satellite-based IoT service market in 2022. This is due to an increase in the demand for communication channels to be established in remote and isolated places. On the other hand, the aerospace segment is expected to drive the global satellite-enabled IoT market during the forecast period owing to the grown adoption of advanced technology, such as satellite-enabled GPS systems over traditional practices, as well as a preference for high data transmission and security solution tools.
The agriculture segment is projected to grow at a rapid rate in the global satellite-based IoT service market. As satellite IoT allows farmers to remotely monitor their crops and livestock in real-time, the usage of satellite IoT to automate regular procedures in the agriculture industry has increased. This is ascribed to satellite IoT services since they enable the early discovery of concerns such as pest infestations, infections, or irrigation challenges, which can then be remedied immediately before they worsen. Furthermore, satellite IoT enables precision agriculture, which is the use of data-driven insights to optimize crop yields, reduce waste, and conserve resources like water and fertilizer. As a result, farmers can construct accurate maps of their fields and adjust their agricultural practices to the individual demands of each area by collecting all of the data from sensors and other IoT devices.
The North American global satellite-based IoT service market is expected to record the highest market share in terms of revenue in the near future. The rapid development of the advanced satellite industry as well as the adoption of technical improvement that provides integrated network redundancy and reduces the line-of-sight problem for continuous worldwide coverage in the United States and Canada, are credited with the region's market growth. Due to huge investments by organizations in the development of efficient data transmission systems, the Asia Pacific region is expected to be a prominent region in the market over the forecast period. The key contributors to market growth are predicted to be India, Japan, and China.
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Report Attribute |
Specifications |
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Market size value in 2024 |
USD 298.45 Mn |
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Revenue forecast in 2034 |
USD 392.20 Mn |
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Growth rate CAGR |
CAGR of 2.8% from 2025 to 2034 |
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Quantitative units |
Representation of revenue in US$ Million, Volume (Unit) and CAGR from 2025 to 2034 |
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Historic Year |
2021 to 2024 |
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Forecast Year |
2025-2034 |
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Report coverage |
The forecast of revenue, the position of the company, the competitive market statistics, growth prospects, and trends |
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Segments covered |
Service, Terminal |
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Regional scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country scope |
U.S.; Canada; U.K.; Germany; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; South Korea; Southeast Asia |
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Competitive Landscape |
Airbus, Astrocast SA, Boeing, Eutelsat Communications SA, Fleet Space Technologies, hiSky Ltd., Inmarsat, Iridium Communications Inc., Kepler Communications Inc., Lacuna Space, Myriota, Orbcomm Inc., OQ Technology, Thales, Thuraya. |
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Customization scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing and available payment methods |
Explore pricing alternatives that are customized to your particular study requirements. |
Chapter 1. Methodology and Scope
1.1. Research Methodology
1.2. Research Scope & Assumptions
Chapter 2. Executive Summary
Chapter 3. Global Satellite-Based IoT Service Market Snapshot
Chapter 4. Global Satellite-Based IoT Service Market Variables, Trends & Scope
4.1. Market Segmentation & Scope
4.2. Drivers
4.3. Challenges
4.4. Trends
4.5. Investment and Funding Analysis
4.6. Industry Analysis – Porter’s Five Forces Analysis
4.7. Competitive Landscape & Market Share Analysis
4.8. Impact of Covid-19 Analysis
Chapter 5. Market Segmentation 1: by Service Estimates & Trend Analysis
5.1. by Service & Market Share, 2024 & 2034
5.2. Market Size (Value (US$ Mn) & Volume (Unit) & Forecasts and Trend Analyses, 2021 to 2034 for the following by Service:
5.2.1. Commercial
5.2.1.1. Transport and Logistics
5.2.1.2. Aviation
5.2.1.3. Agriculture
5.2.1.4. Marine
5.2.1.5. Energy and Utilities
5.2.1.6. Oil and Gas
5.2.1.7. Automotive
5.2.1.8. Healthcare
5.2.1.9. Retail
5.2.1.10. Natural Resource Monitoring
5.2.1.11. Others ((Construction, Media, Plant Engineering, Disaster Management, Infrastructure, and NGO))
5.2.2. Defense
5.2.2.1. Land
5.2.2.2. Airborne
5.2.2.3. Naval
5.2.3. Civil Government
Chapter 6. Market Segmentation 2: by Terminal Estimates & Trend Analysis
6.1. by Terminal & Market Share, 2024 & 2034
6.2. Market Size (Value (US$ Mn) & Volume (Unit) & Forecasts and Trend Analyses, 2021 to 2034 for the following by Terminal:
6.2.1. Commercial
6.2.2. Defense
6.2.3. Civil Government
Chapter 7. Satellite-Based IoT Service Market Segmentation 3: Regional Estimates & Trend Analysis
7.1. North America
7.1.1. North America Satellite-Based IoT Service Market Revenue (US$ Million) & Volume (Unit) Estimates and Forecasts by Service, 2021-2034
7.1.2. North America Satellite-Based IoT Service Market Revenue (US$ Million) & Volume (Unit) Estimates and Forecasts by Terminal, 2021-2034
7.1.3. North America Satellite-Based IoT Service Market Revenue (US$ Million) & Volume (Unit) Estimates and Forecasts by country, 2021-2034
7.2. Europe
7.2.1. Europe Satellite-Based IoT Service Market Revenue (US$ Million) & Volume (Unit) Estimates and Forecasts by Service, 2021-2034
7.2.2. Europe Satellite-Based IoT Service Market Revenue (US$ Million) & Volume (Unit) Estimates and Forecasts by Terminal, 2021-2034
7.2.3. Europe Satellite-Based IoT Service Market Revenue (US$ Million) & Volume (Unit) Estimates and Forecasts by country, 2021-2034
7.3. Asia Pacific
7.3.1. Asia Pacific Satellite-Based IoT Service Market Revenue (US$ Million) & Volume (Unit) Estimates and Forecasts by Service, 2021-2034
7.3.2. Asia Pacific Satellite-Based IoT Service Market Revenue (US$ Million) & Volume (Unit) Estimates and Forecasts by Terminal, 2021-2034
7.3.3. Asia Pacific Satellite-Based IoT Service Market Revenue (US$ Million) & Volume (Unit) Estimates and Forecasts by country, 2021-2034
7.4. Latin America
7.4.1. Latin America Satellite-Based IoT Service Market Revenue (US$ Million) & Volume (Unit) Estimates and Forecasts by Service, 2021-2034
7.4.2. Latin America Satellite-Based IoT Service Market Revenue (US$ Million) & Volume (Unit) Estimates and Forecasts by Terminal, 2021-2034
7.4.3. Latin America Satellite-Based IoT Service Market Revenue (US$ Million) & Volume (Unit) Estimates and Forecasts by country, 2021-2034
7.5. Middle East & Africa
7.5.1. Middle East & Africa Satellite-Based IoT Service Market Revenue (US$ Million) & Volume (Unit) Estimates and Forecasts by Service, 2021-2034
7.5.2. Middle East & Africa Satellite-Based IoT Service Market Revenue (US$ Million) & Volume (Unit) Estimates and Forecasts by Terminal, 2021-2034
7.5.3. Middle East & Africa Satellite-Based IoT Service Market Revenue (US$ Million) & Volume (Unit) Estimates and Forecasts by country, 2021-2034
Chapter 8. Competitive Landscape
8.1. Major Mergers and Acquisitions/Strategic Alliances
8.2. Company Profiles
8.2.1. Airbus
8.2.2. Astrocast SA
8.2.3. Boeing
8.2.4. Eutelsat Communications SA
8.2.5. Fleet Space Technologies
8.2.6. hiSky Ltd.
8.2.7. Inmarsat
8.2.8. Iridium Communications Inc.
8.2.9. Kepler Communications Inc.
8.2.10. Lacuna Space
8.2.11. Myriota
8.2.12. Orbcomm Inc.
8.2.13. OQ Technology
8.2.14. Thales
8.2.15. Thuraya
8.2.16. Other Prominent Players
By Service-
By Terminal-
By Region-
North America-
Europe-
Asia-Pacific-
Latin America-
Middle East & Africa-
InsightAce Analytic follows a standard and comprehensive market research methodology focused on offering the most accurate and precise market insights. The methods followed for all our market research studies include three significant steps – primary research, secondary research, and data modeling and analysis - to derive the current market size and forecast it over the forecast period. In this study, these three steps were used iteratively to generate valid data points (minimum deviation), which were cross-validated through multiple approaches mentioned below in the data modeling section.
Through secondary research methods, information on the market under study, its peer, and the parent market was collected. This information was then entered into data models. The resulted data points and insights were then validated by primary participants.
Based on additional insights from these primary participants, more directional efforts were put into doing secondary research and optimize data models. This process was repeated till all data models used in the study produced similar results (with minimum deviation). This way, this iterative process was able to generate the most accurate market numbers and qualitative insights.
Secondary research
The secondary research sources that are typically mentioned to include, but are not limited to:
The paid sources for secondary research like Factiva, OneSource, Hoovers, and Statista
Primary Research:
Primary research involves telephonic interviews, e-mail interactions, as well as face-to-face interviews for each market, category, segment, and subsegment across geographies
The contributors who typically take part in such a course include, but are not limited to:
Data Modeling and Analysis:
In the iterative process (mentioned above), data models received inputs from primary as well as secondary sources. But analysts working on these models were the key. They used their extensive knowledge and experience about industry and topic to make changes and fine-tuning these models as per the product/service under study.
The standard data models used while studying this market were the top-down and bottom-up approaches and the company shares analysis model. However, other methods were also used along with these – which were specific to the industry and product/service under study.
To know more about the research methodology used for this study, kindly contact us/click here.
