The number of satellite IoT subscribers to reach 26.7 million in 2028
Only about 10 percent of the Earth’s surface has access to terrestrial connectivity services which leaves a massive opportunity for satellite IoT communications. Satellite connectivity provides a complement to terrestrial cellular and non-cellular networks in remote locations, especially useful for applications in agriculture, asset tracking, maritime and intermodal transportation, oil and gas industry exploration, utilities, construction and governments. Both incumbent satellite operators and more than two dozen new initiatives are now betting on the IoT connectivity market. This study covers a total of 40 satellite IoT operators. Only 17 of these offer commercial satellite IoT connectivity services today.
The global satellite IoT communications market is growing at a good steady pace. The global satellite IoT subscriber base grew to surpass 5.1 million in 2023. The number of satellite IoT subscribers will increase at a compound annual growth rate (CAGR) of 39.2 percent to reach 26.7 million units in 2028. Satellite IoT connectivity revenues are at the same time forecasted to grow at a compound annual growth rate (CAGR) of 34.8 percent from € 302.9 million in 2023 to approximately € 1.35 billion in 2028. Meanwhile the monthly ARPU is expected to drop to € 4.20 by 2028.
Iridium, Orbcomm, Inmarsat and Globalstar are the largest satellite IoT network operators. Iridium grew its subscriber base by 17 percent in the last year and reached the number one spot serving 1.8 million subscribers.
Highlights from the report:
- 360-degree overview of the satellite IoT communications ecosystem.
- Reviews of the strategies of 40 satellite IoT operators.
- Perspectives on the impact of the new LEO nano satellite constellations.
- Summary of the latest industry trends and developments.
- Reviews of operator market shares and competitive dynamics.
- Extensive global and regional market forecasts lasting until 2028.
This report answers the following questions:
- Which IoT applications are most relevant for satellite connectivity?
- What are the latest developments in the satellite IoT communications market?
- How will the emerging LEO nanosatellite constellations affect the market?
- What are the market shares for the leading satellite IoT operators?
- What are the regional developments in North America, Europe, China and ROW?
- How is the competitive landscape of satellite IoT operators evolving?
- How will the global satellite IoT market evolve over the next five years?
Who should read this report?
The Satellite IoT Communications Market is the foremost source of information about the emerging satellite IoT connectivity market. Whether you are a device vendor, service provider, satellite operator, investor, consultant, or government agency, you will gain valuable insights from our in-depth research.
Table of Contents
Executive Summary
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Amazon
- AST SpaceMobile
- Astrocast
- Boeing
- CASC and CASIC
- CASC/CASIC
- Chinese satellite operators
- Commsat
- Deutsche Telekom
- E-Space
- EchoStar Mobile
- eSAT Global
- Eutelsat
- Fleet Space Technologies
- Fossa Systems
- Galaxy Space
- Geely
- Globalstar
- Guodian Tech
- Head Aerospace
- Hiber
- hiSky
- Hubble Network
- Ingenu
- Inmarsat
- Innova Space
- Intelsat/Skylo
- Iridium
- Kepler Communications
- Kineis
- Lacuna Space
- Ligado Networks
- Linksure
- Lynk
- Myriota
- Omnispace
- OneWeb
- OQ Technology
- Orbcomm
- Roscosmos
- Sateliot
- Sky and Space Company
- Skylo
- Soracom
- Starlink
- Swarm Technologies (SpaceX)
- Telefónica
- Telesat
- Thuraya
- Totum
Methodology
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