The Growing Potential of Satellite IoT in Various Industries

Wednesday, 7 August 2024, 11:32

ABI Research highlights the burgeoning prospects of satellite IoT, forecasting over 26 million connections and a market value of $4 billion by the year 2030. This growth is attributed to the demand in sectors such as farming, fisheries, and utilities, particularly in areas lacking terrestrial IoT coverage. The report emphasizes the untapped potential for satellite technology in enhancing connectivity in remote locations. Investors and tech companies should closely monitor this trend as it unfolds.
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The Growing Potential of Satellite IoT in Various Industries

Satellite IoT Market Outlook

ABI Research has issued optimistic projections regarding the satellite IoT market, estimating that it will surpass 26 million connections and reach a value of $4 billion by 2030.

Key Growth Areas

  • Farming
  • Fisheries
  • Utilities

This growth is anticipated in industries like farming, fisheries, and utilities, which often operate in regions not served by traditional terrestrial networks.

Conclusion

The report from ABI Research underscores the unrealized potential of satellite IoT technology in expanding connectivity options for various sectors, presenting a compelling opportunity for investors in this emerging market.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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