A new report by global tech research company Omdia has forecast that the cumulative Internet of Things (IoT) devices with satellite connections will rise to more than 10 million by 2025.
The installed base of satellite IoT connections will increase by nearly a factor of four in the coming years, expanding at a 25 percent CAGR from 2.7 million units in 2019 to reach 10.3 million units in 2025, said Omdia in a blog post.
While satellite IoT will only account for a small proportion of overall IoT connections, it will support critical use cases in industries such as maritime and oil and gas. During the next 10-15 years, standard terrestrial wireless IoT technologies will play a key role in enabling satellite-based IoT connectivity. However, in the near term—or in less than five years—terrestrial wireless technologies will have only minimal impact, accounting for less than 10% of the installed base of satellite-connected IoT devices in 2025, as presented in the chart.
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Image credit: Omdia