M2M Satellite Communication Market Trends, Size, Share, Growth, Industry Analysis, Advance Technology and Forecast 2028
The M2M satellite communication market is expected to grow from USD 15.5 billion in 2023 to USD 28.7 billion in 2028, at a CAGR of 13.1% during the forecast period. The M2M satellite communication market is driven by various factors, such as the rising need for enriched data communication, the surge in IoT proliferation, and the escalating demand for monitoring and remote management of connected devices.
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By offering the services segment to account for higher CAGR during the forecast period.
The M2M satellite communication market offers a diverse array of services tailored to connect and manage devices across industries. Data services facilitate seamless information exchange between remote devices, enabling real-time monitoring and control. Voice services provide instant communication in areas with limited terrestrial networks, ensuring reliable voice connectivity. Satellite services, including telemetry and remote monitoring, leverage satellite networks for global coverage, enabling effective asset tracking and environmental monitoring. Security services address the need for robust data protection and secure communication, safeguarding sensitive information. Business services encompass consultancy, project management, and ongoing support, ensuring organizations derive maximum value from their M2M deployments.
By Technology, Satellite Constellation is expected to hold the largest market size for the year 2023.
Satellite constellations provide extensive coverage and enhance the reliability of communication services. M2M communication involves the exchange of data between devices or systems without human intervention, and satellite constellations contribute to this by ensuring global connectivity. One notable example is the deployment of Low Earth Orbit (LEO) satellite constellations, where multiple small satellites operate in synchronized orbits at relatively low altitudes. The interconnected nature of these constellations facilitates seamless communication between devices across various industries, including agriculture, transportation, and environmental monitoring.
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Unique Features in the M2M Satellite Communication Market
Global coverage for M2M applications is ensured by satellite communication, which offers flawless connectivity even in distant and remote locations where regular terrestrial networks are not available.
For vital M2M applications, satellite networks ensure constant communication because of their high resilience and dependability against network congestion, natural catastrophes, and blackouts.
For transportation, logistics, and fleet management applications, satellite M2M solutions enable real-time monitoring and tracking of movable assets like cars, ships, and aeroplanes while they are in motion.
Satellite M2M systems are appropriate for deployments ranging from small-scale to enterprise-level solutions because they can quickly grow to support a large number of linked devices and applications.
For crucial applications like remote asset management, environmental monitoring, and disaster recovery, satellite M2M systems enable real-time data transmission with low latency, allowing for prompt monitoring, control, and response.
Major Highlights of the M2M Satellite Communication Market
By extending coverage to isolated and underserved locations where terrestrial networks are unavailable or unstable, satellite communication offers ubiquitous connection.
High resilience and dependability of satellite networks guarantee constant connection even in challenging weather or during natural disasters.
Satellite M2M solutions are appropriate for both small-scale deployments and enterprise-level implementations since they can scale to support a large number of linked devices and applications.
Vehicles, ships, and aeroplanes are examples of mobile assets that satellite M2M systems support. This allows for real-time tracking and monitoring of moving assets over large geographic areas.
Enabling centralised management, data analytics, and visualisation for M2M installations across a variety of industries and use cases, satellite M2M systems effortlessly interact with IoT platforms and cloud-based services.
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Top Key Companies in the M2M Satellite Communication Market
Key players operating in the M2M satellite communication market across the globe are Marlink Group (Marlink), Viasat, Inc. (Viasat), Thales Group (Thales), ORBCOMM Inc. (ORBCOMM), Iridium Communications Inc. (Iridium Communications), Globalstar, Inc. (Globalstar), Orange (France), EchoStar Corporation (EchoStar), Intelsat (Intelsat), Rogers Communications Inc. (Rogers Communications), SES S.A. (SES), Gilat Satellite Networks Ltd. (Gilat), Telia Company AB (Telia), KORE Wireless (Kore Wireless), Honeywell International Inc. (Honeywell), Qualcomm Incorporated (Qualcomm), Telesat Corporation (Telesat), Wireless Logic (Wireless Logic), Outerlink Corporation (Outerlink Global Solutions), Nupoint Systems Inc. (Nupoint Systems), BusinessCom LLC (Businesscom Networks), Semtech Corporation (Semtech), Al Yah Satellite Communications Company PJSC (Yahsat). These companies employ various approaches, both organic and inorganic, including introducing new products, forming strategic partnerships and collaborations, and engaging in mergers and acquisitions, to expand their presence and offerings within the M2M satellite communication market.
Viasat is a leading global communications company with a vision of connecting everyone and everything worldwide. With over 35 years of experience, Viasat has played a pivotal role in shaping communication across diverse sectors, including consumers, businesses, governments, and militaries. The company is currently dedicated to building the ultimate global communications network that delivers high-quality, secure, affordable, and fast connections to positively impact people’s lives, whether on land, in the air, or at sea. Viasat’s extensive product and solution portfolio spans satellite communication terminals, data controllers, maritime antennas, and more, all designed to meet the evolving needs of connectivity. The company actively engages in strategic partnerships and collaborations, including notable ventures with Cobham and Microsoft, to enhance its offerings. The company has undertaken strategic acquisitions to bolster its capabilities and expand its market presence. For instance, acquisitions like the one with Inmarsat have further solidified its position in the satellite communications sector, enhancing scale, scope, and competitive edge. Additionally, Viasat continually strives for innovation and growth, as seen in its commitment to developing advanced technologies and solutions for global communication.
Thales is a global technology leader with a workforce of over 77,000 employees spread across five continents. The company focuses on investing in digital and “deep tech” innovations, including Big Data, artificial intelligence, connectivity, cybersecurity, and quantum technology. Thales serves a diverse customer base comprising government agencies, administrations, institutions, cities, and businesses. Its clients operate or provide systems, services, and infrastructure crucial to society in defense, security, air and rail transport, banking, telecommunications, and more. Thales delivers solutions, services, and products in the defense and security, aerospace and space, digital identity and security, and transport markets. Thales Alenia Space, a joint venture between Thales (67%) and Leonardo (33%), specializes in providing cost-effective solutions for telecommunications, navigation, Earth observation, environmental management, exploration, science, and orbital infrastructures. The company plays a pivotal role in designing satellite-based systems that enable global connectivity, Earth monitoring, resource management, and space exploration. Thales Alenia Space, in collaboration with Telespazio, forms the Space Alliance, offering a comprehensive range of space-related services. Thales envisions space as a new horizon that contributes to building a better, more sustainable life on Earth.
Iridium Communications Inc. is the only commercial voice and data satellite communications provider offering true global coverage. Iridium’s L-band satellite network provides reliable service to mobile assets where terrestrial wireless and wireline networks are limited or do not exist. As a technology innovator and market leader, Iridium enables connections between people, organizations, and assets to and from anywhere in real time. Iridium’s architecture of 66 low-earth orbiting (LEO) satellites operates as a fully meshed, cross-linked network. This network’s one-of-a-kind architecture minimizes the need for local ground infrastructure and facilitates the global reach of its services to allow connectivity in regions with no physical presence. The company continues to launch innovative products and services supported by its second-generation satellites, which support more capacity and higher data speeds. Reaching over oceans, through airways and across the polar regions, Iridium solutions are ideally suited for industries such as maritime, aviation, emergency services, mining, forestry, oil and gas, heavy equipment, transportation, and utilities. Iridium also provides service to subscribers from the US government and other civil and government agencies worldwide. Teaming up with an array of partner companies, Iridium offers an innovative portfolio of dependable solutions tailored for markets necessitating truly global communication capabilities. In 2019, the company concluded a comprehensive upgrade of its satellite network and launched Iridium Certus, a specialized broadband service.
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