Satellite IoT Market Size - By Services Type, By Frequency Band, By Organization Size, By Application and Forecast, 2025 - 2034

Satellite IoT Market Size

The global satellite IoT market was valued at USD 2 billion in 2024 and is estimated to grow at a CAGR of 23.1% from 2025 to 2034. The growing need for reliable IoT connectivity in remote and hard-to-reach areas is driving the market forward.
 

Industries like logistics, agriculture, and energy are turning into satellite IoT solutions to maintain uninterrupted data flow and improve operations in regions where traditional networks cannot reach. As satellite technology improves and more IoT devices connect to space-based networks, the market continues to expand.
 

For instance, in November 2024, Eseye and Sateliot joined forces to deliver global 5G IoT solutions from space using LPWAN satellite technology. Their partnership brings connectivity to areas without cellular coverage by using the 3GPP Release 17 standard, which allows devices to connect to non-terrestrial networks through a single SIM card.
 

The Satellite IoT industry continues to advance as it incorporates nanosatellites, edge computing, and AI-driven analytics to enhance global connectivity. The shift from traditional geostationary satellites to low Earth orbit (LEO) constellations has made real-time applications more accessible and cost-effective across various sectors. By combining terrestrial and non-terrestrial networks, hybrid connectivity solutions now provide seamless coverage for IoT devices worldwide. The industry has also adopted standardized protocols like 3GPP NTN (Non-Terrestrial Networks) to ensure smooth integration of different systems. Satellite IoT technology plays a vital role in environmental monitoring and helps industries implement sustainable practices. With growing investments in satellite launches and IoT innovations, the market continues to expand its reach and applications.
 

Satellite IoT Market Trends

The Satellite IoT industry continues to evolve with technological advancements and increasing demand for worldwide connectivity. Low Earth orbit (LEO) satellites have become more popular because they offer faster communication speeds and cost less to operate than traditional geostationary satellites, making real-time IoT applications practical. The market now focuses on developing power-efficient, low-bandwidth solutions for IoT devices, which help connect remote regions previously difficult to reach. By combining satellite and ground-based systems into hybrid networks, companies can now provide more reliable and adaptable IoT services. The addition of artificial intelligence and edge computing to satellite IoT systems has improved how data is processed, leading to better IoT solutions across farming, transportation, and energy industries.
 

Satellite IoT Market Analysis

The Satellite IoT industry faces several constraints that affect its growth. High infrastructure costs, limited bandwidth in certain regions, and complex regulatory requirements for spectrum management and satellite licensing slow down-market adoption, especially in emerging markets. However, growing demand for connectivity in remote areas and the development of hybrid solutions that combine satellite and ground networks create new opportunities. The emergence of low-cost, low-power satellite technologies, particularly LEO constellations, makes IoT deployments more affordable. Additionally, evolving regulatory frameworks and increased international cooperation for spectrum allocation and connectivity standards continue to drive market growth.
 

Based on services type, the satellite IoT market is segmented into satellite IoT backhaul, and direct-to-satellite. The direct-to-satellite segment held a market share of over 54% in 2024 and is expected to grow at a lucrative pace.
 

• Low Earth Orbit (LEO) satellite constellations are fueling growth in the direct-to-satellite segment. These satellites deliver seamless, low-latency connectivity to IoT devices without needing ground-based infrastructure, making them particularly valuable for remote and underserved regions. As a result, companies are investing heavily in LEO constellations to enhance coverage and data transmission capabilities across applications like asset tracking, environmental monitoring, and disaster management.
   
• The integration of 5G technology and communication standards like 3GPP Release 17 improves direct-to-satellite services. These technologies deliver fast and reliable IoT connectivity for agriculture, logistics, and energy industries. By working together with ground-based networks, these systems create flexible connectivity options that encourage more businesses to adopt direct-to-satellite solutions.
   

Based on frequency band, the market is segmented into L-band, Ku-and-Ka-band, S-band, and others. The Ku-and-Ka-band segment is expected to grow at a CAGR of over 24% till 2034.
 

• The Ku-band and Ka-band frequencies enable efficient transmission of large data volumes for high-throughput IoT applications. These frequencies benefit industries needing high-speed data transfer, such as maritime, aviation, and oil and gas operations, where real-time monitoring and communication are vital. With their enhanced bandwidth capabilities, these bands work effectively in remote and challenging environments.
   
• The development of compact and cost-effective ground terminals for Ku and Ka band operations is driving wider market adoption. These terminals help small enterprises, agricultural operations, and remote healthcare facilities access high-speed satellite connectivity. Recent advances in beamforming and phased array antennas have improved signal strength and reduced latency, making Ku and Ka band frequencies more effective for IoT networks.
   

North America dominated the satellite IoT market and is expected to reach a value of over USD 5.5 billion by 2034. The United States market continues to grow as companies develop more advanced low Earth orbit (LEO) satellite technology. These LEO satellites deliver better performance through lower latency and reduced costs compared to traditional geostationary satellites. Companies are increasingly adopting hybrid connectivity models that blend satellite and ground-based networks to ensure uninterrupted coverage in remote and hard-to-reach areas.
 

Germany's Satellite IoT industry continues to expand as the country advances its Industry 4.0 initiatives and digital transformation efforts across manufacturing, logistics, and agricultural sectors. Companies increasingly turn to satellite IoT solutions to establish reliable, low-latency connections in remote areas where traditional network infrastructure falls short. For instance, in May 2024, German-based Exolaunch partnered with Sateliot through a new agreement. Exolaunch, which specializes in launch mission management, integration, and satellite deployment services, will work with Sateliot - a company operating the first low Earth orbit 5G NB-IoT satellite constellation from its bases in Barcelona and San Diego. This first-time collaboration focuses on launch and deployment services between the two companies.
 

China's market continues to expand as the country strengthens its technological capabilities and global connectivity infrastructure. The market's growth stems from substantial investments in low Earth orbit satellite constellations, which provide worldwide coverage and improved IoT data connectivity. These satellite networks help various industries like agriculture, logistics, energy, and environmental monitoring, especially in areas with limited connectivity. Fo instance, in May 2024, China launched four satellites, advancing its plan to complete its first IoT constellation in low Earth orbit by the end of the year. The Tianqi 25-28 satellites were launched on a Ceres-1S rocket from a mobile platform off Shandong province. The constellation will include 38 small satellites to provide global data connectivity and near real-time data services for government, industrial, and individual users.
 

Japan's Satellite IoT market continues to grow as the country leverages its advanced technological infrastructure and innovation capabilities. The nation's focus on developing smart cities, monitoring environmental conditions, and managing disasters has increased the need for dependable global connectivity, especially in remote and rural areas. By integrating 5G networks, artificial intelligence, and satellite technologies, Japan has improved its Satellite IoT systems to collect and process data in real-time.
 

South Korea's market continues to grow, backed by the country's strong technology base and its ambition to lead global 5G and satellite communications. The government actively supports building low Earth orbit satellite networks to improve IoT coverage, enabling real-time data collection across farming, supply chain, and environmental monitoring sectors.
 

Satellite IoT Market Share

The satellite IoT industry features major companies like RTX, Thales Alenia Space, Maxar Technologies, and OHB. These companies develop satellite constellations, improve communication infrastructure, and provide integrated IoT services. They compete based on their technological capabilities, especially in low-latency and high-throughput satellite systems, along with pricing and global coverage. To strengthen their market positions and expand service offerings, companies often form partnerships to meet the growing demand for reliable IoT connectivity solutions across industries.
 

Satellite IoT Market Companies

Major players operating in the satellite IoT industry are:

• AAC Clyde Space
• Airbus
• BAE Systems
• Blue Origin
• China Aerospace Science and Technology Corporation
• Exolaunch
• GomSpace
• Lockheed Martin
• Maxar Technologies
• Millennium Space Systems
• Mitsubishi Electric
• Northrop Grumman
• OHB
• OneWeb
• RTX
• Sierra Nevada
• SpaceX
• Thales Alenia Space
   

Satellite IoT Industry News

• In May 2024, Transatel joined forces with OQ Technology, a 5G NTN IoT LEO satellite operator, to introduce a new mobile satellite connectivity service that combines different networks to provide worldwide IoT coverage.
   
• In March 2023, cloud-based cellular network provider Monogoto partnered with Skylo Technologies, a Non-Terrestrial Network service operator, through a roaming agreement. This collaboration simplifies the process for developers to add satellite connectivity to their existing networks on Monogoto Cloud, making it easier to implement NB-IoT satellite tracking for assets.
   

This Satellite IoT market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD million) from 2021 to 2034, for the following segments:

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Market, By Services Type

• Satellite IoT backhaul
• Direct-to-satellite

Market, By Frequency Band

• L-Band
• Ku-and-ka-band
• S-band
• Others

Market, By Organization Size

• Large enterprises
• SMEs

Market, By Application

• Maritime
• Oil & gas
• Energy & utilities
• Transportation & logistics
• Healthcare
• Agriculture
• Military & defense
• Others

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Russia
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia 
• Latin America
  • Brazil
  • Mexico
• MEA
  • UAE
  • Saudi Arabia
  • South Africa