Published Year:2018
Global CubeSat Market - Analysis and Forecast, 2018-2022: Focus on Sizes (1U, 2U, 3U, 6U, and Other
The CubeSat market reported a revenue of $363.8 million in 2017, and the commercial end user...
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Report Description
The global satellite M2M and IoT network market is expected to witness significant growth over the forecast period 2018-2023, due
Topics Covered in the Report
This report identifies the global satellite M2M and IoT network market under different segments such as end-user, frequency band,
Market Overview
Satellites have played a vital role in varied applications from the time of their evolutions and over the time, they have even emb
Table of Contents
1.1 Market Drivers
1.1.1 Increase in Spending for Internet of Things (IoT) Enabled Services
1.1.2 Technological Expansion in Electronic Components and Associated Devices for M2M and IoT Enabling Satellites
1.1.3 Launch of New Satellite Constellations Enabling M2M and IoT Connectivity
1.2 Market Challenges
1.2.1 Regulate the Increasing Amount of Space Debris
1.2.2 Design Challenges with IoT and M2M Network Enabling Satellite
1.3 Market Opportunities
1.3.1 Increasing Investment in Autonomous Cars and Connected Vehicles
1.3.2 Increase in Number of Smart Cities Across the World
2.1 Overview: Key Strategies and Developments
2.1.1 Partnerships, Agreements, and Contracts
2.1.2 Product Launches
2.1.3 Mergers and Acquisitions
2.1.4 Other Developments
2.2 Value Chain Analysis
2.3 Market Share Analysis
3.1 Technology Comparison: Cellular System Vs LPWAN Vs Satellite Systems
3.2 Startups and Investment Scenario
3.3 Patents Analysis
3.4 Subscription-based Pricing Model
4.1 Assumptions and Limitations
4.2 Market Overview
5.1 Market Overview
5.2 Transportation and Logistics
5.3 Government and Military
5.4 Aviation
5.5 Natural Resources
5.6 Heavy Industries
5.7 Others (Banking and Retail, Smart Cities, Consumer IoT, and Connected Cars)
6.1 Market Overview
6.2 L-Band
6.3 Ku- and Ka -Band
6.4 S-Band
6.5 Others
7.1 Market Overview
7.2 North America
7.2.1 North America Satellite M2M and IoT Network Market (by End User)
7.2.2 North America Satellite M2M and IoT Network Market (by Frequency Band)
7.2.3 North America Satellite M2M and IoT Network Market (by Country)
7.2.3.1 U.S.
7.2.3.2 Canada
7.3 Europe
7.3.1 Europe Satellite M2M and IoT Network Market (by End User)
7.3.2 Europe Satellite M2M and IoT Network Market (by Frequency Band)
7.3.3 Europe Satellite M2M and IoT Network Market (by Country)
7.3.3.1 U.K.
7.3.3.2 Switzerland
7.3.3.3 Spain
7.3.3.4 Rest of Europe
7.4 Asia-Pacific
7.4.1 Asia-Pacific Satellite M2M and IoT network market (by End User)
7.4.2 Asia-Pacific Satellite M2M and IoT Network Market (by Frequency Band)
7.4.3 Asia-Pacific Satellite M2M and IoT Network Market (by Country)
7.4.3.1 China
7.4.3.2 India
7.4.3.3 Japan
7.4.3.4 Rest of Asia-Pacific
7.5 Rest-of-the-World
7.5.1 RoW Satellite M2M and IoT Network Market (by End User)
7.5.2 RoW Satellite M2M and IoT Network Market (by Frequency Band)
7.5.3 Middle East
7.5.4 Latin America
7.5.5 Africa
8.1 Airbus S.A.S.
8.1.1 Company Overview
8.1.2 Product Offerings
8.1.3 Financials
8.1.3.1 Overall Financials
8.1.3.2 Financial Summary
8.1.4 SWOT Analysis
8.2 Eutelsat S.A.
8.2.1 Company Overview
8.2.2 Product Offerings
8.2.3 Financials
8.2.3.1 Overall Financials
8.2.3.2 Financial Summary
8.2.4 SWOT Analysis
8.3 Globalstar, Inc.
8.3.1 Company Overview
8.3.2 Products & Services
8.3.3 Financials
8.3.3.1 Overall Financials
8.3.3.2 Financial Summary
8.3.4 SWOT Analysis
8.4 Gomspace A/S
8.4.1 Company Overview
8.4.2 Product Offerings
8.4.3 Financials
8.4.3.1 Overall Financials
8.4.3.2 Financial Summary
8.4.4 SWOT Analysis
8.5 Helios Wire Corporation
8.5.1 Company Overview
8.5.2 Products & Services
8.5.3 SWOT Analysis
8.6 Inmarsat plc.
8.6.1 Company Overview
8.6.2 Products & Services
8.6.3 Financials
8.6.3.1 Overall Financials
8.6.3.2 Financial Summary
8.6.4 SWOT Analysis
8.7 Intelsat
8.7.1 Company Overview
8.7.2 Products & Services
8.7.3 Financials
8.7.3.1 Overall Financials
8.7.3.2 Financial Summary
8.7.4 SWOT Analysis
8.8 Iridium Communications Inc.
8.8.1 Company Overview
8.8.2 Products & Services
8.8.3 Financials
8.8.3.1 Overall Financials
8.8.3.2 Financial Summary
8.8.4 SWOT Analysis
8.9 KORE Wireless Group, Inc.
8.9.1 Company Overview
8.9.2 Products & Services
8.9.3 SWOT Analysis
8.10 OHB SE
8.10.1 Company Overview
8.10.2 Product Offerings
8.10.3 Financials
8.10.3.1 Overall Financials
8.10.3.2 Financial Summary
8.10.4 SWOT Analysis
8.11 ORBCOMM Inc.
8.11.1 Company Overview
8.11.2 Products & Services
8.11.3 Financials
8.11.3.1 Overall Financials
8.11.3.2 Financial Summary
8.11.4 SWOT Analysis
8.12 Space Exploration Technologies Corp. (SpaceX)
8.12.1 Company Overview
8.12.2 Product Offerings
8.12.3 Corporate Summary
8.12.4 SWOT Analysis
8.13 Thales Group
8.13.1 Company Overview
8.13.2 Product Offerings
8.13.3 Financials
8.13.3.1 Overall Financials
8.13.3.2 Financial Summary
8.13.4 SWOT Analysis
8.14 The Boeing Company
8.14.1 Company Overview
8.14.2 Product Offerings
8.14.3 Financials
8.14.3.1 Overall Financials
8.14.3.2 Financial Summary
8.14.4 SWOT Analysis
8.15 Vodafone Limited.
8.15.1 Company Overview
8.15.2 Products & Services
8.15.3 Financials
8.15.3.1 Overall Financials
8.15.3.2 Financial Summary
8.15.4 SWOT Analysis
8.16 Other Key Players
8.16.1 Al Yah Satellite Communication Company PJSC (Yahsat)
8.16.2 Astrocast SA
8.16.3 hiSky Ltd.
8.16.4 Hispasat, S.A.
8.16.5 Ligado Networks
8.16.6 SatixFy Israel Ltd.
8.16.7 Sky and Space Global Ltd.
8.16.8 Space Systems/Loral, LLC
8.16.9 Thuraya Telecommunications Company
9.1 Scope of the Report
9.2 Global Satellite M2M and IoT Network Market Research Methodology
9.3 Assumptions and Limitations
10.1 Related Reports
Table 1.1 Major Satellite Constellation Launches from 2018-2022
Table 1.2 Complexity in Design Associated with Satellite Constellation Development
Table 3.1 Comparison of Wireless Technologies
Table 3.3 Startups and Investment Scenario
Table 3.4 Patent Analysis: Real-Time Information Collection for IoT Device
Table 3.5 Patent Analysis: Computerized Nano Satellite Platform for Large Ocean Vessel Tracking
Table 3.6 Patent Analysis: IoT Platform to Connect Satellites and IoT Networks
Table 3.7 Patent Analysis: Communication Device to Enable Cellular or Satellite Connection
Table 3.8 Patent Analysis: IoT Communication Method and IoT Gateway
Table 3.9 Satellite Operators and Subscription Plans
Table 5.1 Global Satellite M2M and IoT Network Market (by Subsegment), 2017-2023
Table 6.1 Global Satellite M2M and IoT Network Market (by Frequency Band), 2017-2023
Table 6.2 Characteristics of Different Frequency Bands
Table 7.1 Global Satellites M2M and IoT Network Market Size (by Region), 2017-2023 ($Million)
Table 7.2 North America Satellite M2M and IoT Network Market (by Subsegment), 2017-2023
Table 7.3 Europe Satellite M2M and IoT Network Market (by Subsegment), 2017-2023
Table 7.4 Asia-Pacific Satellite M2M and IoT Network Market (by Subsegment), 2017-2023
Table 7.5 RoW Satellite M2M and IoT Network Market (by Subsegment), 2017-2023
Figure 1 Global IoT Connected Devices (Units in Billion)
Figure 2 Revenue and Share of Global Satellite M2M and IoT Applications, 2017
Figure 3 Global Satellite M2M and IoT Network Market, 2017-2023
Figure 4 Global Satellite M2M and IoT Network Market (by Sub segment), 2017-2023
Figure 5 Global Satellite M2M and IoT Network Market (by Frequency Band), 2017 and 2023
Figure 6 Global Satellite M2M and IoT Network Market (by End User), 2017 and 2023
Figure 7 Global Satellite M2M and IoT Network Market (by Region), 2017
Figure 1.1 Global Satellite M2M and IoT Network Market: Impact Analysis on Market Drivers, Challenges, and Opportunities
Figure 1.2 Connected Devices per Person, 2003-2020
Figure 1.3 Number of Debris in Earth Orbit, 1990-2018
Figure 1.4 Number of Smart City Projects, Globally (2006-2016)
Figure 2.1 Some of the Organic and Inorganic Growth Strategies Adopted by the Key Players
Figure 2.2 Percentage Share of Strategies Adopted by the Market Players, 2014-2018
Figure 2.3 Partnerships, Agreements, and Contracts Adopted by Key Market Players, 2014-2018
Figure 2.4 Product Launches by the Key Market Players, 2014-2018
Figure 2.5 Mergers and Acquisitions Adopted by the Key Market Players, 2016
Figure 2.6 Other Developments by the Key Market Players, 2014-2018
Figure 2.7 Global Satellite M2M and IoT Network Market: Value Chain Analysis
Figure 2.8 Market Share Analysis: Global Satellite M2M and IoT Network Services Market, 2017
Figure 4.1 Global Satellite M2M and IoT Network Market, 2017-2023
Figure 4.2 Global Satellite Launches Enabling M2M and IoT Applications, 2017-2023
Figure 5.1 Classification of Global Satellite M2M and IoT Network Market (by End User)
Figure 5.2 Global Satellite M2M and IoT Network Market (by Transportation and Logistics), 2017-2023
Figure 5.3 Global Satellite M2M and IoT Network Market (by Government and Military), 2017-2023
Figure 5.4 Global Satellite M2M and IoT Network Market (by Aviation), 2017-2023
Figure 5.5 Global Air Passenger Traffic, 2008 - 2017
Figure 5.6 Global Satellite M2M and IoT Network Market (by Natural Resources), 2017-2023
Figure 5.7 Global Satellite M2M and IoT Network Market (by Heavy Industries), 2017-2023
Figure 5.8 Global Satellite M2M and IoT Network Market (by Others), 2017-2023
Figure 6.1 Classification of Global Satellite M2M and IoT Network Market (by Frequency Band)
Figure 6.2 Global Satellite M2M and IoT Network Market (by L-Band), 2017-2023
Figure 6.3 Advantages and Disadvantages of L-Band
Figure 6.4 Global Satellite M2M and IoT Network Market (by Ku- and Ka-Band), 2017-2023
Figure 6.5 Advantages and Disadvantages of Ku- and Ka-Band
Figure 6.6 Global Satellite M2M and IoT Network Market (by S-Band), 2017-2023
Figure 6.7 Advantages and Disadvantages of S-Band
Figure 6.8 Global Satellite M2M and IoT Network Market (by Other-Band), 2017-2023
Figure 6.9 Advantages and Disadvantages of Other-Band
Figure 7.1 Classification of Global Satellite M2M and IoT Network Market (by Region)
Figure 7.2 North America Satellite M2M and IoT Network Market (by Country), 2017
Figure 7.3 North America Satellite M2M and IoT Network Market (by End User), 2017
Figure 7.4 North America Satellite M2M and IoT Network Market (by Frequency Band), 2017-2023
Figure 7.5 U.S. Satellite M2M and IoT Network Market Size, 2017-2023
Figure 7.6 Canada Satellite M2M and IoT Network Market Size, 2017-2023
Figure 7.7 Europe Satellite M2M and IoT Network Market (by Country), 2017
Figure 7.8 Europe Satellite M2M and IoT Network Market (by End User), 2017
Figure 7.9 Europe Satellite M2M and IoT Network Market (by Frequency Band), 2017-2023
Figure 7.10 U.K. Satellite M2M and IoT Network Market Size, 2017-2023
Figure 7.11 Switzerland Satellite M2M and IoT Network Market Size, 2017-2023
Figure 7.12 Spain Satellite M2M and IoT Network Market Size, 2017-2023
Figure 7.13 Rest of Europe Satellite M2M and IoT Network Market Size, 2017-2023
Figure 7.14 Asia-Pacific Satellite M2M and IoT Network Market (by Country), 2017
Figure 7.15 Asia-Pacific Satellite M2M and IoT Network Market (by End User), 2017
Figure 7.16 Asia-Pacific Satellite M2M and IoT Network Market (by Frequency Band), 2017-2023
Figure 7.17 China Satellite M2M and IoT Network Market Size, 2017-2023
Figure 7.18 India Satellite M2M and IoT Network Market Size, 2017-2023
Figure 7.19 Japan Satellite M2M and IoT Network Market Size, 2017-2023
Figure 7.20 Rest of Asia-Pacific Satellite M2M and IoT Network Market Size, 2017-2023
Figure 7.21 RoW Satellite M2M and IoT Network Market (by Region), 2017
Figure 7.22 RoW Satellite M2M and IoT Network Market (by End User), 2017
Figure 7.23 RoW Satellite M2M and IoT Network Market (by Frequency Band), 2017-2023
Figure 7.24 Middle East Satellite M2M and IoT Network Market Size, 2017-2023
Figure 7.25 Latin America Satellite M2M and IoT Network Market Size, 2017-2023
Figure 7.26 Africa Satellite M2M and IoT Network Market Size, 2017-2023
Figure 8.1 Share of Key Company Profiles
Figure 8.2 Airbus S.A.S.: Product Offerings
Figure 8.3 Airbus S.A.S.: Overall Financials, 2015-2017
Figure 8.4 Airbus S.A.S.: Revenue by Business Segment, 2015-2017
Figure 8.5 Airbus S.A.S.: SWOT Analysis
Figure 8.6 Eutelsat S.A.: Product Offerings
Figure 8.7 Eutelsat S.A. – Overall Financials, 2016-2018
Figure 8.8 Eutelsat S.A.– Geographic Revenue Mix, 2016-2018
Figure 8.9 SWOT Analysis: Eutelsat S.A.
Figure 8.10 Globalstar, Inc. – Product Offerings
Figure 8.11 Globalstar, Inc. – Overall Financials, 2015-2017
Figure 8.12 Globalstar, Inc. –Revenue by Business Segment, 2015-2017
Figure 8.13 Globalstar, Inc. –Percentage by Region, 2015-2017
Figure 8.14 SWOT Analysis – Globalstar, Inc.
Figure 8.15 Gomspace A/S : Product Offerings
Figure 8.16 Gomspace A/S : Overall Financials, 2015-2017
Figure 8.17 Gomspace A/S: Share in Overall Revenue by Region, 2015-2017
Figure 8.18 Gomspace A/S: SWOT Analysis
Figure 8.19 Helios Wire Corporation – Product Offerings
Figure 8.20 SWOT Analysis – Helios Wire Corporation
Figure 8.21 Inmarsat plc. – Product Offerings
Figure 8.22 Inmarsat plc. – Overall Financials, 2015-2017
Figure 8.23 Inmarsat plc.–Revenue by Business Segment, 2015-2017
Figure 8.24 Inmarsat plc.–Revenue by Region, 2015-2017
Figure 8.25 SWOT Analysis – Inmarsat plc.
Figure 8.26 Intelsat – Product Offerings
Figure 8.27 Intelsat– Overall Financials, 2015-2017
Figure 8.28 Intelsat –Revenue by Business Segment, 2015-2017
Figure 8.29 Intelsat –Revenue by Region, 2016-2018
Figure 8.30 SWOT Analysis – Intelsat
Figure 8.31 Iridium Communications Inc. – Product Offerings
Figure 8.32 Iridium Communications Inc. – Overall Financials, 2015-2017
Figure 8.33 Iridium Communications Inc. – Revenue by Operating Segment, 2015-2017
Figure 8.34 Iridium Communications Inc. – Percentage by Region, 2015-2017
Figure 8.35 SWOT Analysis – Iridium Communications Inc.
Figure 8.36 KORE Wireless Group, Inc. – Product Offerings
Figure 8.37 SWOT Analysis – KORE Wireless Group, Inc.
Figure 8.38 OHB SE: Product Offerings
Figure 8.39 OHB SE: Overall Financials, 2015-2017
Figure 8.40 OHB SE: Revenue by Business Segment, 2015-2017
Figure 8.41 OHB SE: Share in Overall Revenue by Region, 2015-2017
Figure 8.42 OHB SE: SWOT Analysis
Figure 8.43 ORBCOMM Inc. – Product Offerings
Figure 8.44 ORBCOMM Inc. – Overall Financials, 2015-2017
Figure 8.45 ORBCOMM Inc. –Revenue by Business Segment, 2015-2017
Figure 8.46 ORBCOMM Inc. –Percentage by Region, 2015-2017
Figure 8.47 SWOT Analysis – ORBCOMM Inc.
Figure 8.48 Space Exploration Technologies Corp. (SpaceX): Product Offerings
Figure 8.49 Space Exploration Technologies Corp. (SpaceX): SWOT Analysis
Figure 8.50 Thales Group: Product Offerings
Figure 8.51 Thales Group: Overall Financials, 2015-2017
Figure 8.52 Thales Group: Revenue by Business Segment, 2015-2017
Figure 8.53 Thales Group: Share in Overall Revenue by Region, 2015-2017
Figure 8.54 Thales Group: SWOT Analysis
Figure 8.55 The Boeing Company: Product Offerings
Figure 8.56 The Boeing Company: Overall Financials, 2015-2017
Figure 8.57 The Boeing Company: Revenue by Business Segment, 2015-2017
Figure 8.58 The Boeing Company: Share in Overall Revenue by Region, 2015-2017
Figure 8.59 The Boeing Company: SWOT Analysis
Figure 8.60 Vodafone Limited. – Product Offerings
Figure 8.61 Vodafone Limited. – Overall Financials, 2016-2018
Figure 8.62 Vodafone Limited. –Revenue by Business Segment, 2016-2018
Figure 8.63 SWOT Analysis – Vodafone Limited.
Figure 9.1 Global Satellite M2M and IoT Network Market Segmentation
Figure 9.2 Secondary Data Sources
Figure 9.3 Top Down and Bottom Up Approach
Figure 9.4 Satellite M2M and IoT Network Market Influencing Factors
Figure 9.5 Assumptions and Limitations
Topics Covered in the Report
• This report identifies the global satellite M2M and IoT network market under different segments such as end-user, frequency band, and region.
• It examines the prime demand-side factors, which affect the growth of the market, and the current and future trends, market drivers, restraints, and challenges prevalent in the global satellite M2M and IoT network market.
• The report also highlights the value chain of the industry.
• Detailed competitive analysis has been included in this report which focuses on the ¬key market developments and strategies followed by the top players in the market. Additionally, the market share of prominent companies has been included in the existing study which analyzes the competitive strength of the players in the global satellite M2M and IoT network market.
• The market for different end user such as logistics and transportation, natural resources, heavy industries, government and military, aviation, and others (banking and retail, connected cars, smart cities, consumer IoT), has been estimated and analyzed.
• Different frequency bands of the satellite M2M and IoT network, such L-band, Ku-and Ka-band, S-band, and others (X-band and C-band), have been estimated and analyzed in the report.
• The global satellite M2M and IoT network market has been analyzed in the report for the major regions including North America, Europe, Asia-Pacific, and Rest-of-the-World.
• A detailed subscription-based pricing model has been included in the report. Furthermore, the report also focuses on providing information on the key participants and future opportunities in the global satellite M2M and IoT network market.
• The study provides detailed analysis of the 15 key players in the global satellite M2M and IoT network market including: Airbus S.A.S., The Boeing Company, OHB SE, Thales Group, Eutelsat S.A., Globalstar, Inc., ORBCOMM Inc., Inmarsat plc., Intelsat, Iridium Communications Inc., GomSpace A/S, Vodafone Limited., Space Exploration Technologies Corp. (SpaceX), Helios Wire Corporation in the Company Profiles section. This section covers business financials, company snapshots, key products and services, major developments, future programs (if any), and the individual SWOT analysis.
Report Description
The global satellite M2M and IoT network market is expected to witness significant growth over the forecast period 2018-2023, due to the rising demand of fast and flexible wireless communication across various industries such as transportation and logistics, natural resources, heavy industries, aviation, and government and military. The growing need for secure and high-speed wireless communication and the increasing demand for higher flexibility at low cost are some of the key drivers for the growth of the global satellite M2M and IoT network market.
With the advent of computing, sensing, and communication as a part of fourth technical revolution, usage of advanced technologies has increased drastically to reduce manual interventions. This led to advent of Machine to Machine, abbreviated as M2M and Internet of Things abbreviated as IoT. These two technologies assured the connected ecosystem working based on next generation sensors, cloud platform, telematics, and various other technologies. The two technologies catered the urgency of acquiring information from globally scattered resources and to monitor and control them simultaneously. M2M communication typically provide point-to-point information and allows to monitor and control the assets remotely either through terrestrial or aerial network. Wherein, IoT is a step ahead technology and allows to gather massive amount of data from abundant sensors and process it into useful information. IoT utilizes Internet Protocol (IP) based network to interface to middleware and computing platforms to provide predictive maintenance and avoid malfunctioning.
According to BIS Research analysis, the global satellite M2M and IoT network market generated $617.3 million in 2017 and is estimated to grow at a CAGR of 32.58% during 2018-2023. North America dominated the global satellite M2M and IoT network market in 2017 with the U.S. acquiring the most significant market share, globally. However, Asia-Pacific is expected to have the highest growth rate during the forecast period 2018-2023.
Market Overview
Satellites have played a vital role in varied applications from the time of their evolutions and over the time, they have even embraced new development and enabled technological aspects such as weather information, scientific research, telecommunication, multimedia communication, entertainment, and navigation. Moreover, the satellite communication industry has evolved significantly over the decades to include telecommunication application in aviation, commercial, maritime, construction, and military, among many other industries.
The global satellite M2M and IoT network market is driven by several factors. The leading ones in the same are the expansion in the global IoT network, launch of new satellite constellations enabling IoT and M2M connectivity, and technological expansion in associated components in the IoT and M2M network. Rapid expansion in the IoT network to connect the globally scattered resources at a central location and to disseminate the insights across the internal network are the predominant factors which will drive the growth in the satellite M2M and IoT network market. To cater the market with more value propositions and to reduce the investment costs of the end-user, satellite operators and device manufacturers are together developing robust solutions that can potentially switch between terrestrial and satellite network as required. Moreover, it has been witnessed that satellite operators are also collaborating with IoT and connectivity application developers to advance the end to end solutions capability.
Nano satellites, which are low cost and can potentially support M2M and IoT application are gaining huge traction in the market. Many new startups are evolving in the market that are betting to cater the commercial M2M and IoT network connectivity demanding end-user with their nano-satellite constellation. Few of the startups are Sky and Space Global (U.K.), Myriota (Australia), Fleet Space (Australia), Astrocast (Switzerland) and Helios Wire (Canada). Moreover, these players are also looking ahead to drastically reduce the subscription prices for the services by 85% by 2023. Airbus S.A.S., The Boeing Company, OHB SE, Thales Group, Eutelsat S.A., Globalstar, Inc., ORBCOMM Inc., Inmarsat plc., Intelsat, Iridium Communications Inc., GomSpace A/S, Vodafone Limited., Space Exploration Technologies Corp. (SpaceX), Helios Wire Corporation are some of the major players in the global satellite M2M and IoT network market.
The market reported a revenue of $617.3 million, in 2017 and is expected to grow at a significant CAGR during the forecast period 2018-2023. The global satellite M2M and IoT network market has been segmented into six end-users: transportation and logistics, natural resources, heavy industries, government and military, aviation, and others (banking and retail, connected cars, smart cities, consumer IoT). The logistics and transportation end-user acquired the largest share, however, connected cars, banking and retail end-user are expected to grow at the highest CAGR during the forecast period, 2018-2023. In addition, the global Satellite M2M and IoT network market is also classified depending upon the frequency band such as L-Band, Ku-and Ka-band, S-band, and others (X-band and C-band). L-band reported the highest revenue in 2017 and is estimated to grow at the highest CAGR during the forecast period, 2018-2023.
North America accounted for the highest share of the market in 2017 owing to the maximum number of satellite launches by the U.S. and generated highest revenue for the service provider companies. The region is heading forward due to developments led by American companies and high motivation among the end-user to use advanced technologies. Logistics and transportation end user of satellite M2M and IoT network consumed the highest share of North America market in 2017, which was followed by government and military, heavy industries, aviation, natural resources, and others.
The Asia-Pacific region is expected to foster high growth rate in the global satellite M2M and IoT network market during forecast period, 2018-2023. The growth of the region is mainly driven by continued developments in satellite technologies by the governments of different nations in the Asia-Pacific region, which are focusing on developing innovation in space technology to transform the national economy and strengthen security.
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