Market Highlights:
The satellite-enabled IoT a widely adopted medium in
the present time for data transfer. The transmission of data is done via radio
or electromagnetic waves, which does not require a continuous physical
entity/device to transmit data signals. This reduces the chances of physical damage. However, companies plying
in this market face major challenges for satellite broadband, associated with
slow data transfer due to a loss in
transmission pertaining to a large distance
from Earth.
One of the major drivers in the satellite-enabled IoT market is a reduction in the size of electronic components to drive economic feasibility. On the
basis of the technology, the market is segmented into L Band, Ku-Band, and
Ka-Band. On the basis of the application, the market is segmented into
military, aerospace, telecommunication, transportation & logistics,
healthcare, agriculture among others.
The Satellite-Enabled Iot Market is expected to open a wide scope for various applications like military,
aerospace. These applications require operations to be performed on a remote
location.
Major Key Players:
·
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)
·
NanoAvionics, Kepler
Communications, Inc (Canada)
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Regional Analysis:
The geographical segmentation of the
satellite enabled IoT market include regions like North America, Europe, Asia
Pacific and rest of the world. Among these regions, Europe is expected to
dominate the market of satellite enabled IoT. Europe comprises of various key
players dominating in this market segment having a strong grip over the market.
These include countries like the U.K and France. Europe is already a mature
market in terms of IoT connectivity. The satellite enabled IoT market will help
various enterprises and public sectors to reach the remote areas in the region.
Due to a large networks of railways and logistics in Europe, the broadband
connectivity is an emerging trend in the transportation landscape, and
satellite communications that plays an important role in enabling innovative
mobility services.
Following Europe, the North American
market is expected to witness a significant growth during the forecast
period. Countries like Canada and the
U.S. are adopting the IoT technologies faster than other nations and
enterprises are innovating to produce a cost effective portfolio.
However, Asia Pacific is expected to
grow at a fast pace during the forecast period. This growth is majorly due to
various technological investments by countries like China, India, and Japan.
This region holds a large proportion of fast developing countries, requiring a
faster and broader connectivity to cover all the remote locations. Many of the
large enterprises in the world have already started their manufacturing units
in Asia pacific and new manufacturing plants are building up at a faster rate
because of the cheaper workforce and resources.
Segmentation:
On
the basis of technology, the market is segmented into L Band, Ku-Band, and
Ka-Band.
On
the basis of application, the market is segmented into military, aerospace,
telecommunication, transportation & logistics, healthcare, and agriculture
among others.
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