According to a research report titled ‘Global Satellite M2M and IoT Network Market Analysis, 2021’, available with Market Study Report, global satellite M2M and IoT network market is projected to grow at 30% CAGR during 2021-2026.
 

As per the findings of the report, rapidly ageing infrastructure, new technology adoption in logistics industry, and rising investments in satellite IoT startups are propelling worldwide satellite M2M and IoT network industry growth. The demand for greater operational flexibility at lower costs, and an escalating number of cellular IoT users are also adding substantial traction to industry growth.
 

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Furthermore, broadening applications of M2M and IoT technologies for asset tracking, fleet management, and pipeline monitoring are anticipated to propel the market expansion in the forthcoming years.
 

Based on frequency band, global satellite M2M and IoT network market is classified into L-Band, Ku-& Ka- Band, S-Band and other segments.
 

Elaborating on the end-user spectrum, the industry is arrayed into aviation, transportation & logistics, government & military, heavy industries, natural resources, and others (connected cars, smart cities, and banks). Among these, transportation & logistics industry held a significant share in the market and is projected to generate substantial returns in the ensuing years. The increasing demand for autonomous self-driving vehicles, and rising adoption of technology to remotely track, monitor, and control assets in core business verticals are anticipated to favor segmental growth.
 

Considering the geographical outlook, key contributors to the overall satellite M2M and IoT network industry remuneration are North America (U.S., Canada, Mexico), South America (Brazil, Argentina), Europe (United Kingdom, France, Spain, Italy, Russia, Switzerland, Germany), Middle East & Africa (UAE, South Africa), and Asia Pacific (India, South Korea, Japan, China).
 

Major contenders in the global satellite M2M and IoT network market sphere are Space Exploration Technologies Corp. (SpaceX), Iridium Communications Inc., Thales Group, Vodafone Group plc, Kore Wireless Group Inc., The Boeing Company, Intelsat Corp., Inmarsat plc, OHB S.E., Eutelsat S.A., Orbcomm Inc., Globalstar Inc., Helios Wire Corp., Gomspace A/S, and Airbus S.A.S.