Global Satellite-enabled IoT Market 2017-2021
About Satellite Enabled IoT
A satellite is an artificial or man-made object that revolves around Earth. It provides a bird's eye view of large areas of Earth at the same time. It can collect more data at a quicker pace than the instruments on the ground. The global satellite-enabled Internet of Things (IOT) market revolves around satellite-based services, which are or will be utilized by billions of IOT components or devices on the surface of Earth.
Technavio’s analysts forecast the global satellite enabled IoT market to grow at a CAGR of 6.91% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global satellite enabled IoT market for 2017-2021. To calculate the market size, the report considers new installations, sales, volume, value, retrofit, replacement, spares and aftermarket services.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Satellite Enabled IoT Market 2017-2021
Technavio recognizes the following companies as the key players in the global satellite enabled IOT market: Eutelsat, Inmarsat, MDA, Orbital ATK, and SES.
Other Prominent Vendors in the market are: Lockheed Martin, SpaceX, Thales Alenia Space, Thuraya, NanoAvionics, and Kepler Communications.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is evolution of IoT. IoT is represented as a network of cyber physical devices that consist of embedded electronics, sensors or actuators, software, and network connectivity. These devices collect and exchange data over the Internet.”
According to the report, one driver in the market is miniaturization to drive economic viability. One of the major challenges of satellite broadband was associated with slower data transfer due to the transmission losses pertaining to the long distance from Earth. One of the workable solutions has depicted the placement of satellites in low-Earth orbit. Due to the cost-effective manufacturing and deployment of smaller satellites, launching extra satellites has become financially viable and ensures uninterrupted data transmission in case of failure or breakdown of a few satellites.
Further, the report states that one challenge in the market is delivery of two-way communication by basic radio-enabled systems. Stakeholders of satellite-enabled IoT may face challenges due to location constraints. The challenges are mainly associated with the transmission of signals that are dependent directly on the position of the satellite from the surface of Earth. This can induce a shift of going back to basic, standardized communication technologies from up-to-the-minute technologies.
Eutelsat, Inmarsat, MDA, Orbital ATK, SES, Lockheed Martin, SpaceX, Thales Alenia Space, Thuraya, NanoAvionics, and Kepler Communications.
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