NEW
YORK, Aug. 6, 2024 /PRNewswire/ -- The satellite
Internet of Things (IoT) market is experiencing a remarkable
transformation, driven by innovative technological advancements and
a growing demand for global connectivity. According to global
technology intelligence firm ABI Research, the satellite IoT
market is projected to surpass 26 million connections with a
US$4 billion market size by 2030,
highlighting significant growth potential in this sector.
Victor Xu, Satellite
Communications Industry Analyst at ABI Research, identifies key
market opportunities for satellite IoT in the Agriculture, Energy
& Utilities, Fisheries and Aquaculture, and Environmental
Monitoring verticals. "Satellite IoT is expected to play a valuable
role in agriculture, with connections forecast to grow to more than
1.4 million by 2029. Satellite IoT applications such as precision
farming, yield prediction and analysis, livestock management, and
optimized irrigation are enabling more efficient, sustainable, and
profitable farming practices.
In the energy and utilities sector, satellite IoT is also
increasingly adopted for real-time monitoring and management of
critical infrastructure, with smart grid connections expected to
exceed 500,000 by 2029. According to Xu, "Satellite IoT has been
transforming fisheries and aquaculture operations by enabling
real-time Vessel Monitoring Systems (VMS), effective fish stock
management, and comprehensive water quality monitoring, at the same
time ensuring sustainability and regulatory compliance. These
advancements represent a significant opportunity given the
industry's vast scale. For environmental monitoring, satellite IoT
is crucial for providing real-time data on climate conditions and
natural disasters, with Condition-Based Monitoring (CBM)
connections expected to surpass 1 million by 2029."
Strategic partnerships are also playing a crucial role in the
growth and development of the Satellite IoT market. Companies have
been forming alliances to leverage each other's strengths and
expand their market reach. Jake
Saunders, Vice President at ABI Research, points out,
"Prominent satellite IoT providers such as Inmarsat, ORBCOMM,
Globalstar, Myriota, and hiSky have been actively working together
with their partners to expand their service offerings and enhance
connectivity solutions. These collaborations are essential for
addressing the diverse needs of industries and ensuring the
successful deployment of satellite IoT technologies across various
applications."
These findings are from ABI Research's Satellite Communications:
Highlights & Developments in the Satellite IoT Marketplace: 3Q
2024 report. This report is part of the company's Satellite
Communications Innovation & Technologies research service,
which includes research, market data, and analyst insights.
About ABI Research
ABI Research is a global technology intelligence firm uniquely
positioned at the intersection of technology solution providers and
end-market companies. We serve as the bridge that seamlessly
connects these two segments by providing exclusive research and
expert guidance to drive successful technology implementations and
deliver strategies proven to attract and retain customers.
ABI
Research是一家全球性的技术情报公司，拥有得天独厚的优势，充当终端市场公司和技术解决方案提供商之间的桥梁，通过提供独家研究和专业性指导，推动成功的技术实施和提供经证明可吸引和留住客户的战略，无缝连接这两大主体。
For more information about ABI Research's services, contact us
at +1.516.624.2500 in the Americas, +44.203.326.0140 in
Europe, +65.6592.0290 in
Asia-Pacific, or
visit www.abiresearch.com.
Contact Info:
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Tel: +1.516.624.2558
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SOURCE ABI Research