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According to the latest report by MarkNtel Advisors, titled “Global Satellite M2M and IoT Network Market By Frequency Band (L-Band, S-Band, Ku- and Ka -Band, Others), By End-User (Aviation, Heavy Industries, Transportation and Logistics, Natural Resources, Government and Military, Others (Banks, Smart Cities, Connected Cars, etc.)), The Global Satellite M2M and IoT Network Market is projected to grow at around 30% CAGR during the forecast period, i.e., 2021-26. The report provides a thorough analysis of the market, covering competitor dynamics, regional insights, and a detailed breakdown of industry segments.
Base Year: 2020
Forecast Period: 2021-26
Historical Data: 2016-19
CAGR (2021-2026): 30%
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Due to the surge in investments & developments in IoT-enabled devices & services, several leading companies are likely to observe significant growth opportunities in the market and expand their scalability worldwide in the coming years. Several business verticals, consumers, and the governments of different nations are recognizing the crucial benefits of wireless connectivity, owing to which the global market has witnessed swift expansion.
With rapid innovations in the industry, users would be able to connect their global resources & manage them at a single point with the help of IoT connectivity through satellites. Additionally, the ever-increasing demand for smartphones & tablets is also surging the number of devices connected to the internet and, in turn, driving the global market.
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-By End-User
Here, the Transportation & Logistics sector dominates the market and accounted for around 39.56% share with $244.2 million revenue generation in 2017.
-By Frequency Band
Of them all, L-Band dominates the market, and the same trend is likely to be followed in the coming years due to its capabilities to support several applications with low latency rates.
-By Region
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Satellite M2M and IoT Network Market Share Satellite M2M and IoT Network Market Trends Satellite M2M and IoT Network Market Growth