Satellite IoT Market: Trends, outlook and Opportunity Analysis 2020 - 2030

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Satellite IoT: Introduction

  • Satellite IoT is commonly referred to as internet over satellite connections. Satellite IoT is a complex network and connects physical things such as sensors and actuators to the internet. Satellite IoT is the backbone to drive secure connection of different devices to the internet across sectors such as automobile, energy & utilities, oil & gas, agriculture, and forestry.
  • Satellite IoT is a complete system that uses edge and cloud computing to create a secure connection with remote assets, inaccessible assets, and critical assets.
  • Satellite communication supports IoT applications in various areas, including deep sea, remote sites, and mining locations, where cellular connectivity is unavailable.
  • The global satellite IoT market is projected to expand at a rapid pace during the forecast period, due to advancement in technologies across the globe.
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Global Satellite IoT Market: Dynamics

Global Satellite IoT Market: Key Drivers & Restraints

  • Surge in adoption of robust and dynamic business models, and a growing shift in investments and research from the public to private organizations is a major factor likely to accelerate the satellite IoT market in the next few years.
  • Rise in demand for better communication and interaction with the physical environment to accomplish a broad range of activities in a more efficient and informed manner across the globe is estimated to boost the growth of the satellite IoT market during the forecast period.
  • Additionally, rise in adoption of satellite IoT among various sectors such as oil & gas, and agriculture, to increase connectivity is projected to boost the demand for satellite IoT across the globe.
  • Rising demand to fill the gap in tracking issues related to pipeline leakages is also expected to propel the satellite IoT market during the forecast period.
  • Increase in adoption of smart technologies, and applications such as autonomous vehicles and autonomous vessels is anticipated to boost the market.
  • At present, various sectors are focused on wireless technologies, and on increasing productivity and reducing losses which is expected to create new opportunities for the satellite IoT market during the forecast period.
  • However, technology fragmentation and strong competition from terrestrial infrastructure is the major factor projected to hinder the global satellite IoT market in the next few years.
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