Published Date : Feb 21, 2018
ALBANY, New York, February 21, 2018 –MarketResearchReports.biz has announced the addition of a new report titled “Global Satellite-enabled IoT Market 2017-2021”, to its offering. The report on the global satellite-enabled internet of things (IoT) market offers in-depth and comprehensive insights into primary growth drivers, prominent adoption trends, promising avenues, recent technological advances, and the prevailing vendor landscape between the forecast period of 2017 and 2021. The study evaluates the competitive landscape in major regional markets such as the Americas, Asia Pacific (APAC), and the Europe, the Middle East and Africa (EMEA). The study takes a closer look at emerging prospects and analyzes the factor boosting the prominent application segments.
The global satellite-enabled IoT market is projected to clock a CAGR of 6.91% during the forecast period of 2017-2021.
The key application segments for satellite-enabled IoT are military-based and transportation and cargo-based. Of these, currently, the military-based segment holds the major share in the market and is anticipated to hold its sway throughout the forecast period.
On the geographic front, the Americas accounts for the leading share of the global satellite-enabled IoT market and will contribute the major revenue over the assessment period. The regional market is driven by increasing governmental spending on the launch of advanced satellites. Constant technological advances enables manufacturers to design satellite with inherent network redundancy and improve their line-of-sight. The advent of high-performing satellites for IoT is a striking development accentuating the regional market. Europe is also a prominent market, driven by substantial advancements in IoT compute, resources, and infrastructure.
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The pressing need for reliable cellular connections in remote areas in various parts of the world is a prominent factor propelling the demand for satellite-powered internet. The proliferation of IoT devices, coupled with the significant strides made by IoT platforms in developed regions, is boosting the market. The ever rising need for higher bandwidth for IoT networks is a crucial trend bolstering the demand for satellite-enabled IoT. The advent of high-throughput satellite (HTS) to meet modern demand for connectivity, especially in emerging economies, is a notable factor accentuating the growth of the market. Constant advances in HTS will open promising avenues for market players in major regions.
The growing popularity of cost-effective HTS-based services among consumers is a noteworthy trend expected to catalyze the growth of the satellite-enabled IoT. The sustained and substantial efforts by manufacturers to focus on miniaturization of devices and equipment are offering robust fillip to the market.
The rising application of satellite-enabled IoT in emergency response situations, weather forecast, open ocean surveillance, and unmanned aerial systems communication is boosting the market. The rapidly growing role of IoT in health and personnel monitoring devices and a number of tracking devices is a notable factor aiding in the rapid expansion of the market. The use of satellite-enabled IoT to assure mission reliability and security in militaries world over bodes well for the market.
The marked presence of several international and regional vendors make the satellite-enabled IoT market largely fragmented and intensely competitive. They are offering a wide spectrum of products and services to gain a better foothold in the market. Top players are focused on making innovations and investing in upgrade for the existing satellite-enabled IoT technologies. The growing cross-border terrorism and the burgeoning unsolicited activities at the border are providing a favorable framework for vendors to thrive on. They are actively focusing on launching IoT-based security devices and equipment.
Companies eyeing a significant share in the satellite-enabled IoT market include SES S.A., Orbital ATK, Inmarsat plc, Eutelsat S.A., Kepler Communications, NanoAvionics, Thuraya, Thales Alenia Space, SpaceX, and Lockheed Martin.
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