Global Satellite enabled IoT Software Market
Global Satellite enabled IoT (Internet of Things) software Market size was valued at US$ XX Bn. in 2019 and is expected to reach US$ XX Bn by 2027, at a CAGR of 8.2% during the forecast period.
Global Satellite enabled IoT Software Market
The report study has analyzed the revenue impact of COVID -19 pandemic on the sales revenue of market leaders, market followers, and market disrupters in the report, and the same is reflected in our analysis.
A satellite is an artificial or man-made object that revolves around the Earth. 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.
The growth demand for connections with remote locations has been instrumental in the development of the satellite-enabled IoT market. Growth of connected IoT devices including smart devices all over the world has been the main trend in the market, which can lead to further business development in the near future.
The satellite enabled IoT software market share also shows an upward trend due to the increasing integration of 5G networks and satellite to facilitate connected environments, machine learning, and blockchain and quantum solutions for secure satellite IoT operations.
There is a need for high speed, secure, and cost-effective wireless communication system that can be a beneficial opportunity for the companies and give considerable market growth. The swift rise in investment of top players in research and development for launching innovative and efficient advanced technology products is driving the competition in the global market. The famous France-based satellite telecommunication company, Eutelsat, provides a wide range of autonomous and portable advanced communication for military, air, and maritime services.
Global Satellite enabled IoT software Market Drivers & Restraints:
One of the major drivers in the satellite enabled IoT market is reducing the size of electronic components that drive economic feasibility.
Internet of Things is updating, with various devices like smartphones and other wearable devices 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.
IoT networks and applications allow the transmission system at a much faster rate unlike the conventional system of data transmission. Satellite network connections have the ability to transmit terabytes of data. But it requires a large terminal antenna to achieve the transmission stage.
Yet, companies playing in this market face major challenges of satellite broadband associated with slow data transfer due to a loss in transmission. Due to the cost-effective manufacturing and placement of smaller satellites, launching extra satellites has become financially feasible and ensures uninterrupted data transmission in case of failure or breakdown of a few satellites.
The L-band segment accounted for the largest share of the market in 2019.
Based on Technology, the global satellite enabled IoT market is divided into L-band, Ka-band, and Ku-band. The L-band segment accounted for the largest share of the market in 2019. This trend is expected to continue during the forecast period due to an array of benefits such as easy to process the data as well as it requires less sophisticated and less expensive radio frequency equipment.
These added benefits over the Ku-band and Ka-band segment are expected to drive the L-band segment during the forecast period. The Ku-band and Ka-band segment is expected to lose revenue share on account of rain fade loss due to reduction of wavelengths.
The defense segment of global satellite enabled IoT market accounted for the largest share of the market.
In terms of applications, the market is fragmented into defense, aerospace, telecommunication, transportation and logistics and healthcare. The defense segment of global satellite enabled IoT market accounted for the largest share of the market. This is due to the increase in need for setting up communication channel in remote and isolated areas.
However, the aerospace segment is expected to drive the global satellite enabled IoT market during the forecast period due to increase in adoption of advanced technology such as satellite enabled GPS system over traditional practices as well as an inclination towards high data transmission and security solution tools.
On the basis of regions, the global satellite enabled IoT market is segmented into Asia Pacific, Europe, North America, the Middle East & Africa, and Latin America. North America is the main region of the market. Growth of the market in the region is credited to the fast spread of advanced satellite industry as well as the adoption of technological advancement that delivers integral network redundancy and reduces the line-of-sight problem for continuous global coverage in the United States and Canada. The Asia Pacific is anticipated to be key regions in the market over the forecast period due to the large investments by organizations towards the development of efficient and sophisticated data transmission systems. India, Japan, and China are expected to be the major contributors to the growth of the market.
May 2020: Wyld Networks recently procured £400,000 worth of investment to solidify its position in the wireless and mobile mesh networks IoT connectivity.
The objective of the report is to present a comprehensive analysis of the Global Satellite enabled IoT software Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Satellite enabled IoT software Market dynamics, structure by analyzing the market segments and projects the Global Satellite enabled IoT software Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Satellite enabled IoT software Market make the report investor’s guide.
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Scope of the Global Satellite enabled IoT software Market
Global Satellite enabled IoT software Market, by Technology
• L Band
Global Satellite enabled IoT software Market, by Application
• Transportation & logistics
Global Satellite enabled IoT software Market, by Region
• Asia Pacific
• North America
• Latin America
• Middle East Africa
Key players operating in Global Satellite enabled IoT software Market
• 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)
• Orbital ATK
• Kepler Communications
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