Global Satellite M2M and IoT Network Market to 2023 - Opportunities in Increase Number of Smart Cities & Investment in Autonomous Cars and Connected Vehicles
DUBLIN, Nov. 5, 2018 /PRNewswire/ --
The "Global Satellite M2M and IoT Network Market: Focus on End user & Frequency Band - Analysis and Forecast, 2018-2023" report has been added to ResearchAndMarkets.com's offering.
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Global satellite M2M and IoT network market generated $617.3 million in 2017 and is estimated to grow at a CAGR of 32.58% during 2018-2023. North America dominated the global satellite M2M and IoT network market in 2017 with the U.S. acquiring the most significant market share, globally. However, Asia-Pacific is expected to have the highest growth rate during the forecast period 2018-2023.
Satellites have played a vital role in varied applications from the time of their evolutions and over the time, they have even embraced new development and enabled technological aspects such as weather information, scientific research, telecommunication, multimedia communication, entertainment, and navigation. Moreover, the satellite communication industry has evolved significantly over the decades to include telecommunication application in aviation, commercial, maritime, construction, and military, among many other industries.
The global satellite M2M and IoT network market is driven by several factors. The leading ones in the same are the expansion in the global IoT network, launch of new satellite constellations enabling IoT and M2M connectivity, and technological expansion in associated components in the IoT and M2M network. Rapid expansion in the IoT network to connect the globally scattered resources at a central location and to disseminate the insights across the internal network are the predominant factors which will drive the growth in the satellite M2M and IoT network market. To cater the market with more value propositions and to reduce the investment costs of the end-user, satellite operators and device manufacturers are together developing robust solutions that can potentially switch between terrestrial and satellite network as required. Moreover, it has been witnessed that satellite operators are also collaborating with IoT and connectivity application developers to advance the end to end solutions capability.
Nano satellites, which are low cost and can potentially support M2M and IoT application are gaining huge traction in the market. Many new startups are evolving in the market that are betting to cater the commercial M2M and IoT network connectivity demanding end-user with their nano-satellite constellation. Few of the startups are Sky and Space Global (U.K.), Myriota (Australia), Fleet Space (Australia), Astrocast (Switzerland) and Helios Wire (Canada).
Moreover, these players are also looking ahead to drastically reduce the subscription prices for the services by 85% by 2023. Airbus S.A.S., The Boeing Company, OHB SE, Thales Group, Eutelsat S.A., Globalstar, Inc., ORBCOMM Inc., Inmarsat plc., Intelsat, Iridium Communications Inc., GomSpace A/S, Vodafone Limited., Space Exploration Technologies Corp. (SpaceX), Helios Wire Corporation are some of the major players in the global satellite M2M and IoT network market.
The global satellite M2M and IoT network market has been segmented into six end-users: transportation and logistics, natural resources, heavy industries, government and military, aviation, and others (banking and retail, connected cars, smart cities, consumer IoT). The logistics and transportation end-user acquired the largest share, however, connected cars, banking and retail end-user are expected to grow at the highest CAGR during the forecast period, 2018-2023. In addition, the global Satellite M2M and IoT network market is also classified depending upon the frequency band such as L-Band, Ku-and Ka-band, S-band, and others (X-band and C-band). L-band reported the highest revenue in 2017 and is estimated to grow at the highest CAGR during the forecast period, 2018-2023.
North America accounted for the highest share of the market in 2017 owing to the maximum number of satellite launches by the U.S. and generated highest revenue for the service provider companies. The region is heading forward due to developments led by American companies and high motivation among the end-user to use advanced technologies. Logistics and transportation end user of satellite M2M and IoT network consumed the highest share of North America market in 2017, which was followed by government and military, heavy industries, aviation, natural resources, and others.
The Asia-Pacific region is expected to foster high growth rate in the global satellite M2M and IoT network market during forecast period, 2018-2023. The growth of the region is mainly driven by continued developments in satellite technologies by the governments of different nations in the Asia-Pacific region, which are focusing on developing innovation in space technology to transform the national economy and strengthen security.
Key Topics Covered:
Executive Summary
1 Market Dynamics
1.1 Market Drivers
1.1.1 Increase in Spending for Internet of Things (IoT) Enabled Services
1.1.2 Technological Expansion in Electronic Components and Associated Devices for M2M and IoT Enabling Satellites
1.1.3 Launch of New Satellite Constellations Enabling M2M and IoT Connectivity
1.2 Market Challenges
1.2.1 Regulate the Increasing Amount of Space Debris
1.2.2 Design Challenges with IoT and M2M Network Enabling Satellite
1.3 Market Opportunities
1.3.1 Increasing Investment in Autonomous Cars and Connected Vehicles
1.3.2 Increase in Number of Smart Cities Across the World
2 Competitive Insights
2.1 Overview: Key Strategies and Developments
2.1.1 Partnerships, Agreements, and Contracts
2.1.2 Product Launches
2.1.3 Mergers and Acquisitions
2.1.4 Other Developments
2.2 Value Chain Analysis
2.3 Market Share Analysis
3 Industry Analysis
3.1 Technology Comparison: Cellular System Vs LPWAN Vs Satellite Systems
3.2 Startups and Investment Scenario
3.3 Patents Analysis
3.4 Subscription-based Pricing Model
4 Global Satellite M2M and IoT Network Market, 2018-2023
4.1 Assumptions and Limitations
4.2 Market Overview
5 Global Satellite M2M and IoT Network Market (by End User)
5.1 Market Overview
5.2 Transportation and Logistics
5.3 Government and Military
5.4 Aviation
5.5 Natural Resources
5.6 Heavy Industries
5.7 Others (Banking and Retail, Smart Cities, Consumer IoT, and Connected Cars)
6 Global Satellite M2M and IoT Network Market (by Frequency Band)
6.1 Market Overview
6.2 L-Band
6.3 Ku- and Ka -Band
6.4 S-Band
6.5 Others
7 Global Satellite M2M and IoT Network Market (by Region)
8 Company Profiles
-- Airbus S.A.S.
-- Al Yah Satellite Communication Company PJSC (Yahsat)
-- Astrocast SA
-- Eutelsat S.A.
-- Globalstar, Inc.
-- Gomspace A/S
-- Helios Wire Corporation
-- hiSky Ltd.
-- Hispasat, S.A.
-- Inmarsat plc.
-- Intelsat
-- Iridium Communications Inc.
-- KORE Wireless Group, Inc.
-- Ligado Networks
-- OHB SE
-- ORBCOMM Inc.
-- SatixFy Israel Ltd.
-- Sky and Space Global Ltd.
-- Space Exploration Technologies Corp. (SpaceX)
-- Space Systems/Loral, LLC
-- Thales Group
-- The Boeing Company
-- Thuraya Telecommunications Company
-- Vodafone Limited.
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