Machine to Machine or commonly known as M2M and Internet of Things (IoT) are two associated technologies which emerged with the increased use of advanced technologies to establish a secure connection with remote devices and reduce manual intervention. M2M and IoT technology further enable the acquisition of information from a number of scattered satellites and other technologies connected to these remote devices. Where, M2M technology provides point-to-point information from remote devices and IoT gathers massive amount of data from different points and process it into suitable information. Over the years satellites have played a pivotal role in connecting remote devices and integrating the information gathered from them. The information gathered is further used for various applications such as telecommunications, weather forecasts, scientific research, navigation, entertainment and system connectivity & communications in aerospace and defense industry.
According to a market intelligence report published by BIS Research, titled Global Satellite M2M and IoT Network Market – Analysis and Forecast, 2018-2023 the global satellite M2M and IoT market was valued at 617.3 million in 2017 and is projected to reach $3.21 billion by 2023, witnessing a CAGR of 32.58% from 2018 to 2023. The satellite M2M and IoT network can be used for several applications such as entertainment, backhaul, mobile safety and emergency, analytics, command and control, asset tracking and telemetry. In 2017, the use revenue share of the telemetry application was recorded as that highest amongst all. Additionally, the market is driven by factors such as launch of new satellite constellations enabling IoT and M2M connectivity, technological expansion in associated components in the IoT and M2M network and expansion in the global IoT network, among others. However, the most predominant factor which is responsible for the growth of the market amongst all is the rapid expansion in the IoT network so that scattered sources of information can be accessed through one single platform to ensure faster dissemination of information as and when required. However, factors related to the design of the satellite and its placement in the orbit can act as market deterrents.
According to the market research report published by BIS Research, for the purpose of study the global satellite M2M and IoT market was categorized by sub segment, by frequency band, by end-users, by applications and by region. Each category was then segmented into different sub-sections. Based on region, North America accounted for the highest share in the market i.e. 54.20% in 2017. Based on the category of end-user, in 2017 transportation and logistics has the biggest share among other users, based on the frequency L-band accounted for the major share in the market and based on sub segmentation the other sub segment which includes devices and applications accounted for a major segment of the market.