Charting The Rise Of Satellite IoT Market Alongside Space Industry Expansion: A Key Driver Powering Satellite IoT Market Growth In 2025

The Satellite IoT Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].

What Is the Current Satellite IoT Market Size and Its Estimated Growth Rate?
In recent years, the satellite IoT market has seen rapid expansion. Its size is projected to increase from $1.93 billion in 2024 to $2.37 billion in 2025, with a compound annual growth rate (CAGR) of 22.4%. This historic growth can be linked to a rise in global connectivity requirements, improvements in asset tracking and administration, advancements in environmental monitoring, enhancements in precision farming, increased safety measures in maritime and aviation sectors, urgency in emergency response and disaster management, increased use in the energy sector, developments in scientific research and exploration, and improvements in supply chain optimization.

The satellite internet of things (IoT) market is projected to expand significantly over the next few years, reaching a valuation of $5.32 billion by 2029 and achieving a compound annual growth rate (CAGR) of 22.5%. The anticipated growth during the forecast period can be ascribed to the increased adoption of LEO-based services, accelerated digitalization, the surge in cybersecurity attacks, the expanding space industry, the escalating demand for interconnectivity, and the heightened requirement for connected devices for real-time monitoring. Key trends for the forecast period encompass advancements in wireless technology, the launching of numerous cubits and small satellites, an increasing emphasis on environmentally friendly satellite technologies, integration with 5G networks, and advancements in communication with lasers.

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How Are Emerging Segments Shaping the Satellite IoT Market Landscape?
The satellite iot market covered in this report is segmented -

1) By Service Type: Direct-To-Satellite, Satellite IoT Backhaul
2) By Frequency Band: L-Band, Ku And Ka-Band, S-Band, Other Band Frequency
3) By Enterprise Size: Large Enterprise, Small And Medium-Sized Enterprise
4) By Industry Vertical: Oil And Gas, Transportation And Logistics, Energy And Utilities, Agriculture, Maritime, Healthcare, Military And Defense, Other Industry Verticals

Subsegments:
1) By Direct-To-Satellite: Low-Power Wide Area Network (LPWAN), Global Tracking And Monitoring, Remote Asset Management
2) By Satellite IoT Backhaul: Data Offloading Services, Connectivity Solutions For Remote Areas, Integration With Terrestrial Networks

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Which Growth Factors Are Influencing Satellite IoT Market Expansion?
The satellite IoT market's growth is anticipated to be fueled by the burgeoning space industry. This industry encompasses the economic activities associated with creating components for outer space, their delivery, and related services. The space industry plays a crucial role in advancing the satellite IoT by offering scalable and cost-effective solutions, technological enhancements, global connectivity, and catering to the unique requirements of IoT applications in diverse sectors. The UK Space Agency, a government agency based in the UK, revealed in July 2024 that there was an 11% increase from 2022 in the number of new UK organizations conducting space-related activities, totaling 175 entities in all. Thus, the increasing development in the space industry contributes to the advancement of the satellite IoT market.

Who Are the Dominant Players Across Different Satellite IoT Market Segments?
Major companies operating in the satellite IoT market are Airbus SE, Northrop Grumman Corporation, Space Exploration Technologies Corp., EchoStar Corporation, Inmarsat Limited, Iridium Communications Inc., Orbcomm, Globalstar Inc., Spire Global Inc., Kepler Communications Inc., Ligado Networks, NanoAvionics Corp., Fleet Space Technologies Pty. Ltd., Skylo Technologies, Actility S.A., Alén Space, Leaf Space, Kineis, Myriota Pty. Ltd., Sateliot, Xona Space Systems Inc., OQ Technology, Hiber AB, Fossa Systems S.L., Sky and Space Global Ltd.

What Satellite IoT Market Trends Are Gaining Traction Across Different Segments?
In an effort to advance their financial standing in the satellite IoT market, major corporations are channeling their resources into the innovation of products based on cutting-edge technologies like the TIGER-5 and TIGER-6 satellites. These satellites are paving the way for an expanded scope of 5G connectivity by integrating the 5G NTN IoT satellite constellation. For example, OQ Technology, a satellite telecom operator based in Luxembourg, released the TIGER-5 and TIGER-6 satellites into space in November 2023 using SpaceX's Falcon 9 during the Transporter-9 rideshare mission. These 6U nanosatellites, which are equipped with NB-IoT cell tower payloads, were dispatched into Low Earth Orbit. The satellites were successfully separated and positioned into orbit 75 minutes post-launch, with communication being established on the same day.

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Which Geographic Regions Are Expected to Dominate the Satellite IoT Market in the Coming Years?
North America was the largest region in the satellite IoT market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the satellite IoT market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Satellite IoT Market?
2. What is the CAGR expected in the Satellite IoT Market?
3. What Are the Key Innovations Transforming the Satellite IoT Industry?
4. Which Region Is Leading the Satellite IoT Market?

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