Future Outlook: The Increasing Role of Satellite IoT Connectivity in the IoT Market | Top Satellite Communication IoT Networks
Top Satellite Communication IoT Networks – Since the 1970s, satellite technology has been used for asset tracking and remote telemetry. However, because of its high costs and poor performance in comparison to land-based networks. It was primarily viewed as a backup option. However, satellite-based IoT connectivity is gaining popularity as a result of the expansion of the IoT market and the limitations of terrestrial networks.
As of right now, seven established satellite operators and at least 13 start-ups are either preparing to deploy or have already launched IoT networks using satellites. This technology is perfect for remote or inaccessible areas because it can virtually cover the entire surface of the planet. We anticipate the demand for satellite IoT to rise in the coming years, even though it will remain a niche service in comparison to the overall IoT market.
What is Sattelite IoT?
“Satellite IoT refers to the use of satellite communication networks and services to connect terrestrial IoT sensors and IoT end-nodes to a server (e.g., in a public or private cloud), either in conjunction with or as an alternative to terrestrial communication networks.”
Accelerated Growth of Satellite IoT Market Expected
The number of satellite IoT connectivity subscribers crossed 5 million in 2021, and satellite IoT connectivity revenues are growing 14 times faster than traditional satellite connectivity revenues, according to IoT Analytics’ Satellite IoT Connectivity Market Report 2022–2026.
Future Outlook: The Potential of Satellite IoT Connectivity in the IoT Market
Satellite operators and start-ups anticipate a 25% CAGR growth for lower-elevation (LEO) satellite-based IoT networks between 2022 and 2026. They prefer LEO constellations because they are better suited for low-power communications and enable faster design and deployment at a lower cost. By 2026, experts anticipate that the market for satellite-based IoT connectivity will reach $1 billion USD and grow at a CAGR of 14%.
Top Satellite Communication IoT Networks
LEO-based communication is an emerging area of technology. Major tech companies, such as SpaceX’s Starlink and Amazon’s Project Kuiper. They are investing in LEO constellations to provide broadband internet access. Although these constellations do not directly cater to the IoT market. They could potentially be a viable option for customers needing high-bandwidth and low-bandwidth applications, such as remote industrial sites and container ships. As a result, they could become a significant competitor to companies focused on satellite backhauling for IoT. For instance,
- Connected Farms Pty Ltd, an Australian telecommunications carrier, plans to use Starlink’s backhaul service in a pilot project. Which offers connectivity fence to fence on farms for various technologies, including robotics, agriculture IoT, mobile phones, and home offices.
- Additionally, in 2021, SpaceX purchased Swarm, a company that specializes in providing low-cost IoT connectivity.
Information Courtesy: https://iot-analytics.com/
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