NEW YORK, Dec. 17, 2016 /PRNewswire/ -- Dynamic Vertical Markets Such as Oil and Gas and Aviation Spur Adoption for Satellite IoT and Provide New Growth Opportunities for S- and L-band Service Providers
While only accounting for 25.5 million units globally in 2015, the satellite IoT market is expected to grow at a faster pace than any other satellite market. With a compound annual growth rate (CAGR) of 19.9%, this market will provide new growth and opportunities for mobile satellite service providers that have struggled with the stagnant development of the satellite phone market. This research provides a base year market size by active units, future growth estimation through 2022, and forecast breakouts for the 6 most significant market verticals within the satellite IoT market. For the purposes of this study, only S- and L-band satellite technologies are covered as they are the primary frequency bands used for pure-IoT applications.
Market trends cover the IoT market, satellite technology and its place within the IoT market, technology strengths and barriers, and satellite's viability among cheaper terrestrial network alternatives.
Drivers and restraints for the global satellite IoT market outline the key influencing factors effecting the growth in this market.
The base year active unit market size and forecast spans from 2016 to 2022, projecting the overall size of the market and its expected growth.
Market share analysis for key market participants used to form the base year for the market forecast in the research provides a closer look at the performance of S- and L-band satellite providers serving the IoT market.
Vertical market analysis for the top 6 key areas of growth for satellite IoT and subsequent forecast breakouts for each of these growth areas include the military, oil and gas, aviation, maritime shipping and logistics, land-based shipping and logistics, and heavy equipment monitoring.
Context, opportunities, and use cases for the 6 key areas of growth are also provided to detail the nature of the growth and satellite's overall capability and relevance to the market.
This research focuses on satellites' increasing role in the rapidly expanding IoT market and how the technology can be leveraged to fill in the gaps left by land-line and cellular-based solutions. Due to a satellite's complete global coverage and reliability, it is uniquely positioned to facilitate IoT growth in difficult/remote applications, which have been previously impossible to connect. Thus, instead of positioning satellite as a competing technology, this research shows the potential for satellite to complement other terrestrial networks or to serve as the sole/primary technology for unique applications.
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