According to Northern Sky Research (NSR), the smallsat IoT business is on the way to becoming a $1 billion market in just eight years. New Space startups in this area are increasing their momentum of building constellations and developing technologies, aiming to provide keener competition with the big satellite companies. These predictions, IoT applications, and more were.
New NSR Report Sees Total Smallsat IoT Units Reaching 71% of Global Satcom M2M/IoT Units by 2030 Cambridge, MA – August 31, 2021 – NSR’s M2M and IoT via Satellite, 12th Edition (M2M12) report, published today, forecasts the dedicated IoT constellations market reaching $990 million in annual total retail revenues by 2030, reflecting ~44 %.
MSS satellite services, and smallsats are generally the main focus for M2M and IoT nowadays, with narrowband applications being well suited to these technology types. However, NSR also covers the Ku-band and VSAT M2M/IoT markets, which currently take up approximately 21% of overall revenues for satcom M2M/IoT.
With small satellite operators continuing to receive new rounds of funding, and small satellite launches continuing, what impact will this have on existing satellite M2M/IoT market and operators?
NSR’s M2M and IoT via Satellite, 10th Edition (M2M/IoT10) report, published today, forecasts $11.6 billion in revenues will be generated over the next 10 years. All M2M and IoT applications will grow, with total retail revenues to rise at 6.6% CAGR over the coming decade, with a 14% CAGR for in-service M2M/IoT units during this same period. And, while significant attention is paid to emerging IoT smallsat constellations, NSR found MSS and VSAT offerings continue to play a solid role in the M2M/IoT growth story.