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Satellite Enabled IoT Software Market Growth Dynamics, 2021 Share Value, Size, Business Opportunities and Industry Forecast to 2027

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Deepali W

Satellite Enabled IoT Software Market Scope:

In Geostationary Orbit (GEO) and standardization work on Non-Terrestrial Network (NTN), and increasing adoption of L-band satellite influences the market demand, overarching initiatives to establish 5G standards. With increasing breakthroughs for a truly global IoT coverage, hybrid satellite, and cellular networks that can enable new ubiquitous 5G IoT services at a global scale, the market is projected to garner significant traction in the years to come.

The satellite enabled IoT software market is gaining considerable prominence. The market growth attributes to the penetration of cloud applications and IoT in the growing number of businesses. Besides, the rising demand for advanced IoT 5G satellite communications substantiates the growth of the market. Increasing deployments of satellite-enabled standard NB-IoT devices for commercial GEO satellites increase the market size.

Growth in IoT connections, such as connected cars, smart home devices, and connected industrial equipment and non-IoT connections, such as smartphones, laptops, and computers, push the market. According to Market Research Future (MRFR), the value of the global satellite enabled IoT software market is expected to escalate to new heights by 2027, registering an impressive CAGR throughout the forecast period (2020 and 2027).

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Global Satellite Enabled IoT Software Market   - Segmentations

The MRFR report is segmented into technology, application, and regions. The technology segment is sub-segmented into L Band, Ku-Band, and Ka-Band. The application segment is sub-segmented into military, aerospace, telecommunication, transportation & logistics, healthcare, and agriculture.

Global Satellite Enabled IoT Software Market   - Geographical Analysis

Europe leads the global satellite enabled IoT software market. The region is already a mature market in terms of IoT connectivity. Besides, the market growth attributes to the need to expand the reach of remote areas in the region. Satellite-enabled IoT is likely to help various enterprises and public sectors to achieve their goals with the high adoption of cloud technology and IoT.

North America takes the second lead in the global satellite enabled IoT software market. The presence of major technology providers alongside the well-established infrastructure that enables rapid implementation of advanced technologies positively impacts the regional market growth. Moreover, increasing investments in edge computing & data centers, rapid advances in technologies, and increasing popularity of cloud platforms foster the regional market growth.

The Asia Pacific satellite enabled IoT software is rapidly emerging as a promising market globally. Augmenting demand for the highly efficient, edge data centers to replace server rooms in the increasing number of SMEs in the region fosters the market's growth. China, Japan, and India lead the regional market due to the increasing numbers of enterprises in these regions.

Germany, with the increasing demand for IoT, leads the regional market, creating a large revenue pocket. Furthermore, augmenting demand for edge data centers to ensure continuous delivery of operations and management services positively impacts the regional market's growth.

Global Satellite Enabled IoT Software Market   - Competitive Analysis

Highly competitive, the satellite enabled IoT software market appears to be fragmented due to the presence of numerous large and small vendors. Matured technology providers increasingly focus on maximizing their market share while small players find it challenging to compete with them. 

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Major Players:

Players leading the satellite enabled IoT software market include Inmarsat Plc (U.K), Eutelsat S.A (France), Maxar Technologies Ltd (Canada), SES S.A (Luxembourg), Orbital ATK Inc (U.S.), Lockheed Martin (U.S.), Thales Alenia Space (France), Space Exploration Technologies Corp (U.S.), Thuraya Telecommunications Company (UAE), Kepler Communications, Inc (Canada), and NanoAvionics, among others.

About Market Research Future:

Market Research Future (MRFR) has created a niche in the world of market research. It is counted among the top market research companies that offer well-researched and updated market research reports and insights to businesses of all sizes. What sets us apart is our super-responsive team that offers quality work keeping clients abridged of the prospective challenges and opportunities in various markets. Our team is adept in their space as well as patiently listens to every client.

 

The best part is they know their work inside out and possess the expertise to guide the client in the right direction and achieve results on a tight deadline. We are a one-stop solution for all your data research needs. Our team does not believe in the “one size fits all” approach to creating a report that is detailed and concise. We handle 13 industry verticals including Healthcare, Chemicals and Materials, Information and Communications Technology, Semiconductor and Electronics, Energy and Power, Food, Beverages & Nutrition, Automobile, Consumer and Retail, Aerospace and Defense, Industrial Automation and Equipment, Packaging & Transport, Construction, and Agriculture. With our unique approach for every market report, we aim to reach the zenith in qualitative business intelligence and syndicated market research. 

 

Contact:

Market Research Future

Office No. 524/528, Amanora Chambers

Magarpatta Road, Hadapsar

Pune - 411028

Maharashtra, India

+1 646 845 9312

Email: [email protected]

 

 

 

 

 

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