Medium Earth Orbit (MEO) Satellite IoT Market Opportunity, Growth Drivers, Industry Trend Analysis, and Forecast 2024 to 2032

Description

The Global Medium Earth Orbit (MEO) Satellite IoT Market was valued at USD 43 million in 2023 and will witness a 17% CAGR from 2024 to 2032 due to rising investments in satellite infrastructure and the expansion of IoT applications. Increased funding from both the public and private sectors enhances the development and deployment of MEO satellites to enable better connectivity and data transmission. Simultaneously, the growing range of IoT applications across industries, such as agriculture, transportation, and smart cities, creates a higher demand for reliable communication solutions. This synergy between investments and application expansion is crucial for market growth.

The overall MEO satellite IoT industry is classified based on service type, frequency band, organization size, application, and region. The direct-to-satellite segment secured a 52% share in 2023, propelled by its ability to provide seamless and high-speed connectivity directly to IoT devices. This approach eliminates the need for intermediary ground infrastructure, enhancing reliability and reducing latency. As industries increasingly seek efficient communication solutions for applications like remote monitoring, logistics, and smart agriculture, direct-to-satellite technology becomes a preferred option.Its scalability and effectiveness in addressing diverse connectivity needs position it as a leading segment in the market. The Ku- and Ka-band segment will record 18% CAGR through 2032, driven by their superior bandwidth and data transmission capabilities. These frequency bands facilitate high-speed internet connectivity and enable efficient communication for various IoT applications, such as remote monitoring, smart cities, and transportation. Their ability to support large volumes of data makes them ideal for industries that require reliable and rapid information exchange.

As demand for advanced IoT solutions continues to rise, Ku- and Ka-band technologies will be crucial to market growth. North America MEO satellite IoT industry witnessed a share of 39% in 2023 fueled by significant investments in satellite technology and a growing demand for reliable connectivity solutions. The region's robust infrastructure and technological advancements support the deployment of MEO satellites for various IoT applications, including agriculture, logistics, and smart city initiatives. Additionally, the presence of leading satellite service providers and innovative startups fosters competition and innovation, making North America a notable contributor to the overall growth of the medium earth orbit (MEO) satellite IoT market.

Market Scope
Start Year	2023
Forecast Year	2024-2032
Start Value	$43 Million
Forecast Value	$170 Million
CAGR	17%

Product Code: 11340

Chapter 1 Scope & Methodology

1.1 Market scope & definition
1.2 Base estimates & calculations
1.3 Forecast parameters
1.4 Data sources
- 1.4.1 Primary
- 1.4.2 Secondary
  - 1.4.2.1 Paid sources
  - 1.4.2.2 Public sources

Chapter 2 Executive Summary

2.1 Industry 360° synopsis, 2021-2032

Chapter 3 Industry Insights

3.1 Industry ecosystem analysis
3.2 Vendor matrix
3.3 Technology & innovation landscape
3.4 Patent analysis
3.5 Key news and initiatives
3.6 Regulatory landscape
3.7 Impact forces
- 3.7.1 Growth drivers
  - 3.7.1.1 Growing adoption of Internet of Things (IoT) devices
  - 3.7.1.2 Continuous advancements in satellite technology
  - 3.7.1.3 Increasing demand for comprehensive global coverage
  - 3.7.1.4 Higher data speeds are driving the evolution
  - 3.7.1.5 Integration of LEO satellite networks with other satellite systems
- 3.7.2 Industry pitfalls & challenges
  - 3.7.2.1 Substantial initial capital required for deployment
  - 3.7.2.2 Navigating the complex landscape of regulatory requirements and spectrum management
3.8 Growth potential analysis
3.9 Porter's analysis
- 3.9.1 Supplier power
- 3.9.2 Buyer power
- 3.9.3 Threat of new entrants
- 3.9.4 Threat of substitutes
- 3.9.5 Industry rivalry
3.10 PESTEL analysis

Chapter 4 Competitive Landscape, 2023

4.1 Company market share analysis
4.2 Competitive positioning matrix
4.3 Strategic outlook matrix

Chapter 5 Market Estimates & Forecast, By Service Type, 2021-2032 (USD Million)

5.1 Key trends
5.2 Satellite IoT backhaul
5.3 Direct-to-Satellite

Chapter 6 Market Estimates & Forecast, By Frequency Band, 2021-2032 (USD Million)

6.1 Key trends
6.2 L-band
6.3 Ku- and-Ka-band
6.4 S-band
6.5 Others

Chapter 7 Market Estimates & Forecast, By Organization Size, 2021-2032 (USD Million)

7.1 Key trends
7.2 Large enterprises
7.3 SME

Chapter 8 Market Estimates & Forecast, By Application, 2021-2032 (USD Million)

8.1 Key trends
8.2 Maritime
8.3 Oil & gas
8.4 Energy & utilities
8.5 Transportation & logistics
8.6 Healthcare
8.7 Agriculture
8.8 Military & defense
8.9 Others

Chapter 9 Market Estimates & Forecast, By Region, 2021-2032 (USD Million)

9.1 Key trends
9.2 North America
- 9.2.1 U.S.
- 9.2.2 Canada
9.3 Europe
- 9.3.1 UK
- 9.3.2 Germany
- 9.3.3 France
- 9.3.4 Italy
- 9.3.5 Spain
- 9.3.6 Rest of Europe
9.4 Asia Pacific
- 9.4.1 China
- 9.4.2 India
- 9.4.3 Japan
- 9.4.4 South Korea
- 9.4.5 ANZ
- 9.4.6 Rest of Asia Pacific
9.5 Latin America
- 9.5.1 Brazil
- 9.5.2 Mexico
- 9.5.3 Rest of Latin America
9.6 MEA
- 9.6.1 UAE
- 9.6.2 Saudi Arabia
- 9.6.3 South Africa
- 9.6.4 Rest of MEA

Chapter 10 Company Profiles

10.1 AAC Clyde Space
10.2 Airbus Defence and Space
10.3 BAE Systems
10.4 China Aerospace Science and Technology Corporation (CASC)
10.5 Exolaunch GmbH
10.6 GomSpace
10.7 Lockheed Martin Corporation
10.8 Maxar Technologies
10.9 Millennium Space Systems, Inc.
10.10 Mitsubishi Electric Corporation
10.11 Northrop Grumman Corporation
10.12 OHB SE
10.13 OneWeb
10.14 RTX Corporation
10.15 Sierra Nevada Corporation
10.16 SpaceX
10.17 Thales Alenia Space
10.18 The Aerospace Corporation