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The IoT satellite connectivity market is experiencing global growth thanks to advancements in low earth orbit (LEO) mega-constellation construction and launches. LEO satellite technology offers several advantages for the IoT ecosystem, including cost reduction and the creation of new revenue streams.

Collaboration between standards such as low-power wide-area networks (LPWAN) and cellular IoT is driving market growth. Businesses are deploying hybrid terrestrial and satellite networks to enable new IoT use cases in areas with limited LPWAN and cellular network coverage or to enhance connectivity resiliency.

Currently, 84.5% of IoT satellite connections are with four satellite network operators: Inmarsat, Iridium, Orbcomm, and Globalstar. However, there are also start-ups leveraging LEO satellites to provide connectivity for IoT devices. Some start-ups connect devices with LPWAN using LEO satellites, while others integrate satellite networks with LPWAN technology.

In addition to start-ups, traditional satellite operators are also offering satellite connectivity for IoT use cases. For example, Intelsat has signed separate deals with leading telecom operators like Deutsche Telekom, Telefonica, and TIM to expand cellular connectivity in remote locations.

The report also highlights several growth opportunities in the IoT satellite connectivity market, including livestock monitoring with IoT-enabled tags, integrated fleet management solutions, and oil and gas industry pipeline monitoring.

Overall, the IoT satellite connectivity market is poised for significant growth due to the adoption of LEO satellite technology and the convergence of LPWAN and satellite connectivity.

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