Satellite Enabled IoT Software Market-Industry News, Applications and Trends!

Internet of Things (IoT) is becoming more advanced, and it is enabling the use of mobile devices for various activities through simple integration and synchronization. Market Research Future (MRFR) has published a research report about the global satellite-enabled IoT software market that speculates surge for the market with 8% CAGR (Compound Annual Growth Rate) during the forecast period between 2017 and 2023.

The key driver that is driving the market growth is the reduction in the size of electronic components that result in economic feasibility. However, the major challenge that can stunt the market growth is the association of satellite broadband with slow data transfer due to a loss in transmission pertaining to a large distance from Earth.

The global satellite-enabled IoT software market has been segmented on the basis of application, technology, and lastly region. Based on application, this market has been segmented into Ka-Band, Ku-Band, and L Band. The technology-based segmentation segments the market into aerospace, agriculture, healthcare, military, telecommunication, and transportation & logistics.

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The regional segmentation of the global satellite-enabled IoT software market segments the market into continent-based regional markets namely, North America, Asia Pacific, Europe, and rest of the world (RoW). According to the report, Europe is expected to dominate the global market during the forecast period. Many key players of this market are based in Europe. Being a mature market in terms of IoT connectivity, Europe is a perfect region for enterprises and public sectors that aim to reach the remote areas in this region. The primary country-specific markets with perfect IoT connectivity are France and the United Kingdom (UK). Another important country-specific market is Germany, followed by the rest of Europe.

After Europe, North America is the largest market which is expected to grow significantly during the forecast period. The fastest growth via IoT adoption in this region is being experienced in the United States of America (USA) and Canada where many technological innovations are happening regularly. Technologically, Mexico is not as advanced as USA or Canada, but it is the third significant market in this region. During the forecast period, the Asia Pacific market is expected to grow at a fast pace, primarily, due to various technological investments by countries like China, India, and Japan, followed by the rest of Asia Pacific.

RoW segment covers Latin America and Middle East & Africa (MEA) region. In Latin America, the market is limited due to limited technological advancement. Economies in this region that have the potential to emerge as strong markets are Argentina and Brazil. In the MEA region, the market is small and limited. Reasons for the limited market growth in this region are lack of awareness, lack of education, lack of technological development, and political instability.

Key Players

The key players in the global satellite-enabled IoT software market Eutelsat S.A (France), Inmarsat Plc (UK), Kepler Communications Inc (Canada), Lockheed Martin (USA), Maxar Technologies Ltd (Canada), NanoAvionics (Lithuania), Orbital ATK Inc (U.S.), SES S.A (Luxembourg), Space Exploration Technologies Corp (USA), Thales Alenia Space (France), Thuraya Telecommunications Company {United Arab Emirates (UAE)}.

Latest Industry News

  • Nanosatellite-enabled IoT connectivity startup Myriota has announced its plans to expand operations and create 50 new high tech jobs over the next two years. The roles will include highly skilled data networking professionals, satellite communications professionals, and software & hardware developers. 9 OCT 2018
  • With a partnership with Vodafone Spain, the Maxar Technologies Company DigitalGlobe has released Sensing4Farming, an IoT product for smart, digital, and precision agriculture. 17 OCT 2018.

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