Satellite IoT Market Driven By Demand For Real-Time Environmental Data

The global satellite IoT market size was estimated at USD 1,489.7 million in 2024 and is projected to reach USD 7,231.6 million by 2033, representing a compound annual growth rate (CAGR) of 19.5% from 2025 to 2033. The growth is being driven by mounting demand for remote monitoring and asset-tracking solutions across multiple industries.

Key Market Trends & Insights and Market Size & Forecast

• In 2024, North America held the dominant position in the market with a revenue share of 39.8%.
• Within that region, the U.S. led in terms of revenue share.
• By service type, the direct-to-satellite segment accounted for the largest revenue share — 65% in 2024.
• By organization size, large enterprises dominated with a share of 67.4% in 2024.
• By end-use segment, transport & logistics held the top share at 19.4% in 2024.
• Looking ahead, the forecast indicates the market will grow from USD 1,489.7 million in 2024 to USD 7,231.6 million by 2033, at a CAGR of 19.5% across 2025-2033.
• The Asia Pacific region is expected to witness the fastest growth over the forecast period, with a CAGR exceeding 23% in many analyses.
• The expansion in Asia Pacific is supported by vast rural areas requiring remote connectivity, growing government investment in satellite infrastructure and strong partnerships between satellite service providers and telecom operators.

Key drivers include adoption of low-power, wide-area satellite networks enabling connectivity in remote and underserved regions where terrestrial networks are unreliable or unavailable.

Industries such as mining, oil & gas, offshore energy and agriculture increasingly rely on satellite IoT devices for equipment performance monitoring, asset location tracking and worker-safety in harsh remote environments, supporting real-time data transmission, quicker decision-making and reduced downtime.

The logistics and transportation sector is seeing rapid uptake of satellite IoT solutions to track shipments across oceans, deserts and rural highways, offering enhanced visibility, route optimisation and improved cargo condition monitoring (important for sensitive goods such as perishables and pharmaceuticals).

Environmental monitoring and climate-change initiatives further fuel demand for satellite IoT solutions to collect data on deforestation, water and air quality, wildlife migration, etc.

In agriculture, satellite-connected sensors and machinery are being used for precision-farming: monitoring soil moisture, crop health and weather conditions in real time, which helps optimise irrigation schedules and fertilizer usage thereby increasing yield and reducing resource wastage.

Order a free sample PDF of the Satellite IoT Market Intelligence Study, published by Grand View Research.

Key Companies & Market Share Insight

The competitive landscape is shaped by major players and emerging innovators. Major established companies such as Northrop Grumman Corporation (which operates across aerospace systems, mission systems and defence services) and Thales S.A. (a Paris-based technology company focused on defence, aerospace, transportation and digital security) are active in this space, bringing advanced technologies and large-scale customer engagement to satellite IoT solutions.

Emerging players such as Myriota Pty Ltd. and Kepler Communications Inc. are also reshaping the market: Myriota focuses on ultra-low-power, low-cost connectivity for small IoT devices in remote locations, while Kepler is building a global data-network infrastructure enabling seamless data transfer from remote industrial sites to urban hubs.

Key Companies List

Some of the leading companies active in the satellite IoT market include:

• ORBCOMM Inc.
• Globalstar, Inc.
• Inmarsat Group
• Iridium Satellite LLC
• Thales S.A
• Airbus SE
• EUTELSAT COMMUNICATIONS SA
• Northrop Grumman Corporation
• Swarm Technologies Inc.
• Kepler Communications Inc.
• Myriota Pty Ltd.
• OQ Technology

Conclusion

In summary, the satellite IoT market is set for robust growth, with forecasts showing a leap from approximately USD 1.49 billion in 2024 to over USD 7.23 billion by 2033. The surge is underpinned by increasing demand for remote-area connectivity, real-time asset monitoring in logistics, agriculture and energy sectors, and the expansion of IoT networks into previously unconnected regions. Mature players and lean innovators alike are contributing to this evolution, and as connectivity needs deepen globally—especially in harsh or remote environments—the role of satellite IoT solutions continues to expand.

Explore Horizon Databook – The world’s most expansive market intelligence platform developed by Grand View Research.