Satellite IoT Market Report 2025

This report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.

The satellite iot market size has grown exponentially in recent years. It will grow from $1.93 billion in 2024 to $2.37 billion in 2025 at a compound annual growth rate (CAGR) of 22.4%. The growth in the historic period can be attributed to global connectivity needs, asset tracking and management, environmental monitoring, precision agriculture, maritime and aviation safety, emergency response and disaster management, energy sector applications, scientific research and exploration, and supply chain optimization.

The satellite iot market size is expected to see exponential growth in the next few years. It will grow to $5.32 billion in 2029 at a compound annual growth rate (CAGR) of 22.5%. The growth in the forecast period can be attributed to rising proliferation of LEO-based services, booming digitalization, increase in cybersecurity attacks, growing space industry, rise in demand for interconnectivity, increase in demand for connected devices for real time monitoring. Major trends in the forecast period include advancement in wireless technology, launches of various cubits & small satellites, growing focus on eco-friendly satellite technologies, new integration with 5G networks, advancements in optical communication with lasers.

The growing space industry is expected to drive the expansion of the satellite IoT market in the future. The space industry encompasses economic activities related to the manufacturing of components for outer space, their transportation to space, and the associated services. This sector contributes to the growth of satellite IoT by offering cost-effective, scalable solutions, global connectivity, advanced technology, and meeting the specific needs of IoT applications across various industries. For example, in July 2024, the United Kingdom Space Agency, a UK-based government agency, reported that 175 new UK organizations were identified as engaging in space-related activities, marking an 11% increase from 2022. As a result, the expanding space industry is driving the growth of the satellite IoT market.

Major companies operating in the satellite IoT market are focused on developing innovative products with technologies such as TIGER-5 and TIGER-6 satellites to boost financial performance in the market. These satellites are expanding the frontier of 5G connectivity by including the 5G NTN IoT satellite constellation. For instance, in November 2023, OQ Technology, a Luxembourg-based satellite telecom operator, launched TIGER-5 and TIGER-6 satellites on SpaceX's Falcon 9 during the Transporter-9 rideshare mission. These 6U nanosatellites, featuring NB-IoT cell tower payloads, were deployed into the Low Earth Orbit. The satellites were separated and placed into orbit 75 minutes after launch, with contact established on the same day.

In May 2022, Astrocast, a Switzerland-based company specializing in satellite IoT connectivity, acquired Hiber for an undisclosed amount. This acquisition allowed Astrocast to strengthen its position in the satellite communication market, with a focus on expanding its ability to provide global IoT solutions. Hiber, a Netherlands-based company, is recognized for its innovative satellite technology that enables low-power, low-cost connectivity for IoT devices across various industries.

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.

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. The countries covered in the satellite IoT market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The satellite IoT market consists of revenues earned by entities by providing services such as global connectivity, asset tracking and monitoring, agriculture and environmental monitoring, emergency and disaster response, remote sensing, and geospatial analysis. The market value includes the value of related goods sold by the service provider or included within the service offering. The satellite IoT market also includes sales of modems and terminals, transceivers, smart sensors, nano and CubeSats, GPS, and GNSS receivers, which are used in providing services. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

Satellite IoT (Internet of Things) refers to using satellite technology to enable communication and data exchange between IoT devices in remote or global locations where terrestrial network coverage is limited or nonexistent. It facilitates global asset tracking, agricultural monitoring, and maritime and logistics operations by providing widespread, reliable connectivity across the Earth's surface, including oceans and rural areas. Satellite IoT supports industries by offering real-time data collection and analysis from any location, enhancing operational efficiency and decision-making.

The main types of satellite IoT services are direct-to-satellite and satellite IoT backhaul. Direct-to-Satellite service involves communication directly between ground-based IoT devices and satellites. They use various frequency bands, such as the l-band, ku-band, ka-band, s-band, and others. They are used by enterprises irrespective of their size, such as large enterprises and small and medium-sized enterprises, and are also used by various industry verticals, such as oil and gas, transportation and logistics, energy and utilities, agriculture, maritime, healthcare, military, and defense, among others.

The main types of satellite IoT services are direct-to-satellite and satellite IoT backhaul. Direct-to-Satellite service involves communication directly between ground-based IoT devices and satellites. They use various frequency bands, such as the l-band, ku-band, ka-band, s-band, and others. They are used by enterprises irrespective of their size, such as large enterprises and small and medium-sized enterprises, and are also used by various industry verticals, such as oil and gas, transportation and logistics, energy and utilities, agriculture, maritime, healthcare, military, and defense, among others.

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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