M2M Satellite Communication Market Worth $28.7 billion by 2028, Growing At a CAGR of 13.1% Report by MarketsandMarkets™

Chicago, Feb. 20, 2024 (GLOBE NEWSWIRE) -- The global M2M Satellite Communication Market size is projected to grow from grow from USD 15.5 billion in 2023 to USD 28.7 billion 2028, at a CAGR of 13.1% during the forecast period, according to a new report by MarketsandMarkets™. The rising need for enriched data communications, the surge in IoT profileration and the escalating demand for monitoring and remote management of connected devices drives the M2M satellite communication market.

Browse in-depth TOC on "M2M Satellite Communication Market"

300 - Tables
60 - Figures
400 - Pages

Download Report Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=33741729

M2M Satellite Communication Market Dynamics:

Drivers:

1. The surge in IoT proliferation drives the demand for M2M satellite communication.
2. Ensuring connectivity and efficient communication

Restraints:

1. Cost constraints hinder the widespread adoption of M2M satellite communication.

Opportunities:

1. To enhance global connectivity in remote areas.
2. Industries operating in remote and underserved areas, such as agriculture, mining, and maritime.

List of Key Players in M2M Satellite Communication Market:

• Marlink (France)
• Viasat (US)
• Thales (France)
• ORBCOMM (US)
• Iridium Communications (US)
• Globalstar (US)
• Orange (France)
• EchoStar (US)
• Intelsat (US)
• Rogers Communications (Canada)

Get Sample Report @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=33741729

In recent years, several advancements, regulatory changes, and technological shifts have collectively reshaped the business landscape of M2M satellite communication market. The emergence of low Earth orbit (LEO) satellite constellations, such as those deployed by companies like SpaceX and OneWeb, has significantly enhanced the capabilities of M2M communication by providing lower latency and increased data transfer speeds. These constellations offer a more robust and reliable connectivity solution for remote and IoT devices globally. Furthermore, advancements in satellite miniaturization and cost-effective manufacturing have lowered the barriers to entry for satellite deployment, fostering increased competition in the M2M satellite communication sector. Innovations like advanced encryption protocols, edge computing capabilities on satellites, and the integration of artificial intelligence into satellite communication systems are expected to further revolutionize the M2M landscape. These developments not only enhance the efficiency and reliability of M2M communication but also open up new possibilities for industries relying on real-time data exchange, such as agriculture, transportation, and environmental monitoring.

The data services segment of the market is projected to grow at the highest CAGR during the forecast period. M2M satellite communication involves the exchange of data between remote devices or sensors using satellite networks, enabling real-time monitoring, control, and management of assets in areas where traditional communication infrastructure may be limited or unavailable. Data services in M2M satellite communication encompass a broad range of applications, including remote asset tracking, environmental monitoring, smart agriculture, maritime and aviation telemetry, and industrial automation. These services leverage satellite connectivity to transmit and receive data, providing a reliable and global communication solution. Satellite networks offer ubiquitous coverage, ensuring that M2M devices can operate in remote or challenging environments, such as offshore locations, deserts, or areas lacking terrestrial network infrastructure.

Inquire Before Buying @ https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=33741729

By satellite constellations, Low Earth Orbit (LEO) satellites offer distinct advantages for seamless and efficient connectivity. In contrast to traditional geostationary satellites, LEO satellites orbit the Earth at much lower altitudes, typically between 160 to 2,000 kilometers. This proximity results in significantly reduced signal latency, making LEO satellites ideal for time sensitive M2M applications where real-time data transmission is critical. Companies like SpaceX's Starlink, OneWeb, and other satellite providers are actively deploying LEO constellations to create a dense network of interconnected satellites, ensuring global coverage for M2M communication. The LEO architecture enables rapid data transfer and enhances the reliability of communication services, making it well-suited for industries such as transportation, agriculture, and environmental monitoring.

The M2M satellite communication market presents a multitude of opportunities driven by advancements in technology and evolving global connectivity needs. One significant opportunity lies in the expansion of IoT applications across various industries, including agriculture, transportation, healthcare, and environmental monitoring. M2M satellite communication enables seamless data exchange between devices in remote or challenging terrains, fostering improved efficiency and decision-making processes. Satellite connectivity ensures continuous communication with sensors and devices, enabling businesses to optimize their operations, enhance security, and reduce costs. Moreover, the rise of smart cities and the increasing integration of M2M communication in urban infrastructure present opportunities for satellite-based solutions to support smart grids, traffic management, and environmental monitoring.

Browse Adjacent Markets: Satellite Communication Market Research Reports & Consulting

Browse Other Reports:

Smart City Platforms Market

Data Science Platform Market

Social and Emotional Learning Market

Zero Trust Security Market

3D Mapping and Modeling Market

            About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com