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The IoT satellite connectivity market is witnessing significant growth worldwide, thanks to the advancements in low Earth orbit (LEO) mega-constellation construction and launch. LEO satellite technology offers several advantages for the IoT ecosystem, such as cost reduction and the creation of new revenue streams.

Collaboration between standards like low-power wide-area networks (LPWAN) and cellular IoT is propelling the growth of this market. Companies are deploying hybrid terrestrial and satellite networks to enable new IoT use cases in areas with limited LPWAN or cellular network coverage. For example, in recent years, satellite networks have been integrated with LPWAN technology, such as LoRaWAN and NB-IoT.

While the IoT satellite ecosystem is still developing, 84.5% of the connections are with four major IoT satellite network operators: Inmarsat, Iridium, Orbcomm, and Globalstar. Start-ups are also taking advantage of LEO satellites to provide connectivity for IoT devices. Some of these start-ups connect devices with LPWAN, while others integrate satellite networks with LPWAN technology.

Traditional satellite operators, such as Intelsat, are also expanding their satellite connectivity offerings for IoT use cases, collaborating with leading telecom operators to enhance cellular connectivity in remote locations.

In addition to these developments, this report explores various growth opportunities within the IoT satellite connectivity market. Some of these opportunities include livestock monitoring with IoT-enabled tags, integrated fleet management solutions, and pipeline monitoring in the oil and gas industry.

Overall, the advancements in satellite technology and the integration of satellite networks with LPWAN are driving the growth of the global IoT satellite connectivity market. The market is expected to continue expanding as more companies recognize the benefits of satellite connectivity for IoT applications.

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