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.
A lot has changed in the smallsat IoT market in the last year, with a plethora of IoT smallsat launches, a number of new funding rounds, and a major acquisition as well. This market is heating up, and although there have been some delays from COVID-19, particularly with launches and chip supply issues, substantial progress.