Reports: Satellites to Boost IoT Connections Globally by 2024

It is expected that after five years, the global IoT connections would be 24 million, American company’s ABI Research report says. The report highlights that satellites will play a pivotal role in connecting the IoT devices across various sectors.

The report is named as Satellite in IoT: New Satellite Networks for New Wave of IoT Investment application analysis.

ABI Research says that only 20 percent of the earth’s surface is covered by terrestrial cellular networks, but satellites can cover the entire globe. IoT connectivity will grow due to the development of the present satellite constellations in orbit. The commercial use of the satellite connection is still immature, therefore, there are ample amount of opportunities for growth.

There will be a good amount of growth in the application segments such as maritime and asset tracking, agriculture, and aviation tracking. But, the only obligation which the region faces is that they don’t have a good terrestrial infrastructure.

For the timing, nano-satellites packed with Software Defined Radio technology may allow high-end tracking capabilities to happen. Companies such as SpaceX and Amazon are betting on Low Earth Orbit (LEO) satellites. These companies can offer satellites for these applications at a lower cost than others such as Inmarsat and GlobalStar.

If the traditional satellite companies want to compete with the likes of Amazon and SpaceX then they must lower their prices.