Global Satellite Enabled IoT Software Market: By Technology (L Band, Ku-Band, Ka-Band), Application (Military, Aerospace, Telecommunication, Transportation & Logistics, Healthcare, Agriculture) - Forecast till 2023
Internet of Things is revolutionizing. With IoT, various devices like smartphones and other wearable device are interconnected with homes, cities, and vehicles to collect a huge amount of data, which is to analyzed and processed for even better and enhanced communication. However, devices on ground possess limited capabilities and geographical reach. These devices are confined to a smaller geographical location, and thus, restricts the ability to collect and store a wide area of data.
One of the major drivers in the satellite-enabled IoT market is reducing the size of electronic components drive economic feasibility. However, companies plying in this market face major challenges of satellite broadband associated with slow data transfer due to a loss in transmission pertaining to a large distance from Earth.
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On the basis of technology, the market is segmented into L Band, Ku-Band, and Ka-Band.
On the basis of application, the market is segmented into military, aerospace, telecommunication, transportation & logistics, healthcare, and agriculture among others.
The geographical segmentation of the Satellite-Enabled IoT Software Market include regions like North America, Europe, Asia Pacific, and rest of the world. Europe is expected to dominate the global market of satellite-enabled IoT. Europe comprises of various key players dominating in this market segment having a strong grip on the market. These include countries like the U.K and France. Europe is already a mature market in terms of IoT connectivity. The satellite-enabled IoT market is likely to help various enterprises and public sectors to reach the remote areas in the region. Following Europe, the North American market is likely to experience a significant growth during the forecast period. Countries like Canada and the U.S. are adopting the IoT technologies faster than other nations and enterprises are innovating to produce a cost-effective portfolio. Privately owned companies like Space X are turning up with latest innovations and technologies and implementing those technologies to improve the consumer side experience.
However, Asia Pacific is expected to grow at a fast pace during the forecast period. This growth is majorly due to various technological investments by countries like China, India, and Japan.
The satellite-enabled IoT market include some of the key players like Eutelsat S.A (France), Inmarsat Plc (U.K), Maxar Technologies Ltd (Canada), Orbital ATK Inc (U.S.), SES S.A (Luxembourg), Lockheed Martin (U.S.), Space Exploration Technologies Corp (U.S.), Thales Alenia Space (France), Thuraya Telecommunications Company (UAE), NanoAvionics, Kepler Communications, Inc (Canada) among others
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- Satellite Enabled IoT software services providers
- Software Solution providers
- Content services providers
- Data Analytics vendors
- Cloud Service providers
- Project accounting solution providers
- Value-added resellers
- Research Firms
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