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Home Industry Agriculture

Partnership to drive satellite IoT

FutureIoT Editors by FutureIoT Editors
August 9, 2024
Photo by Mark Stebnicki: https://www.pexels.com/photo/machine-harvest-2255801/

Photo by Mark Stebnicki: https://www.pexels.com/photo/machine-harvest-2255801/

The satellite Internet of Things (IoT) market is experiencing a remarkable transformation, driven by innovative technological advancements and a growing demand for global connectivity.

ABI Research forecasts the satellite IoT market 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 enable 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.”

He added that 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,” he continued.

Strategic partnerships

Strategic partnerships play a crucial role in the growth and development of the Satellite IoT market. Companies have formed alliances to leverage each other’s strengths and expand their market reach. Jake Saunders, vice president at ABI Research, points out that 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,” he added.

Related:  Network Automation and Orchestration Opportunities in 2024
Tags: ABI Researchsatellite IoT
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Asia’s ONLY dedicated IoT publication

The race to harness the power of Internet of Things (IoT) is here. FutureIoT is dedicated to individuals, as well as public and private organizations looking to tap the potential of IoT to transform the way we live, work and do business. FutureIoT is the dedicated media that provides the single source of truth about IoT, the technology, its application and regulation, originating from Asia. << Read more >>

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Standardisation and tech are keys to unlocking growth in Asia's supply chains

Standardisation and tech are keys to unlocking growth in Asia's supply chains

May 9, 2025
Photo by Polina Tankilevitch: https://www.pexels.com/photo/hand-of-a-woman-showing-palm-with-a-word-no-4830656/

AI to fuel the rise of zero touch networks

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