M2M Satellite Communication Solution Market Drivers, Trends, and Forecast by 2031

The M2M satellite communication solution market is expected to register a CAGR of 14.3% during 2023–2031. Advancements in satellite technology are likely to remain a key trend in the market.

M2M Satellite Communication Solution Market Analysis

• The M2M satellite communication solution market includes growth prospects owing to the current market trends and their foreseeable impact during the forecast period.
• The M2M satellite communication solution market is growing owing to factors such as the rising need for data communication and surge in a number of IoT devices.
• Rising applications in various fields provide lucrative opportunities for the M2M satellite communication solution market.

M2M Satellite Communication Solution Market Overview

• M2M (Machine-to-Machine) satellite communication refers to the wireless data exchange between two or more machines via satellite networks.
• With the use of this technology, devices in remote or mobile locations can communicate and exchange data, even in places without access to or dependability from terrestrial networks.
• In sectors where devices must communicate data from remote places, such as agriculture, transportation, energy, and environmental monitoring, M2M satellite communication is crucial.
• It enables real-time monitoring, control, and data collecting over wide geographic areas by using satellite constellations to relay information between ground-based devices and centralized data centers.

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M2M Satellite Communication Solution Market: Strategic Insights

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M2M Satellite Communication Solution Market Drivers and Opportunities

Surge In Number of IoT Devices to Favor Market

• Recently, there has been a huge surge in the adoption of IoT technologies due to advancements in mobile technology and wireless connectivity and a continued drop in the cost of sensors and other components.
• Several industries are using IoT technologies to improve efficiency and reduce costs. For instance, according to Finance Online, there were approximately 14.76 billion connected IoT devices as of November 2023 and this figure is expected to grow approximately 25.44 billion by 2031.
• Similarly, according to a forecast by IoT Analytics, 75% of all devices will be IoT by 2031. Furthermore, FinleyUSA estimated that worldwide IoT spending would rise to US$ 1.1 trillion in 2023
• Worldwide connection is becoming more and more necessary as more devices become connected, particularly in places where traditional terrestrial networks are unstable or non-existent. Satellite communication is the perfect solution for Internet of Things applications like asset tracking, remote monitoring, and smart agriculture that frequently need connectivity in remote areas.

Rising Applications in Various Fields  

• M2M satellite systems for asset tracking, data collection, and remote sensing are becoming more and more popular in industries like agriculture, maritime, oil and gas, transportation, and environmental monitoring.
• In agriculture, satellite-assisted IoT gadgets aid in resource optimization and agricultural health monitoring.
• The maritime and transportation industries use M2M satellite communication for cargo tracking and fleet management.
• It makes it possible to remotely monitor offshore platforms and pipelines in the oil sector.
• Thus, rising applications across various fields are opening up significant opportunities for M2M satellite communication market growth.

M2M Satellite Communication Solution Market Report Segmentation Analysis

Key segments that contributed to the derivation of the M2M satellite communication solution market analysis are components, technology, enterprise size, and end-user industry.

• By component, the market is segmented into hardware, software and services.
• By technology, the market is segmented into VSAT, data transmission, satellite constellation, networking, satellite communication protocols, automatic identification systems, and others.
• By enterprise size, the market is bifurcated into large enterprises and small & medium enterprises.
• By end user industry, the market is segmented into mining, automotive, retail, military & defense, healthcare, manufacturing, and others.

M2M Satellite Communication Solution Market Share Analysis by Geography

• The M2M satellite communication solution market report comprises a detailed analysis of five major geographic regions, which includes current and historical market size and forecasts for 2021 to 2031, covering North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South & Central America.
• Each region is further sub-segmented into respective countries. This report provides analysis and forecasts of 18+ countries, covering M2M satellite communication solution market dynamics such as drivers, trends, and opportunities that are impacting the markets at the regional level.
• Also, the report covers PEST analysis, which involves the study of major factors that influence the M2M satellite communication solution market in these regions.

M2M Satellite Communication Solution Market Regional Insights

The regional trends and factors influencing the M2M Satellite Communication Solution Market throughout the forecast period have been thoroughly explained by the analysts at The Insight Partners. This section also discusses M2M Satellite Communication Solution Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

M2M Satellite Communication Solution Market Report Scope

M2M Satellite Communication Solution Market Players Density: Understanding Its Impact on Business Dynamics

The M2M Satellite Communication Solution Market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the M2M Satellite Communication Solution Market are:

1. EchoStar Corporation
2. Gilat Satellite Networks
3. Globalstar
4. Honeywell International Inc.
5. Marlink
6. Orange S.A.

Disclaimer: The companies listed above are not ranked in any particular order.

M2M Satellite Communication Solution Market News and Recent Developments

The M2M satellite communication solution market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the M2M satellite communication solution market is listed below:

• Quectel Wireless Solutions, a global IoT solutions provider, today announced the launch of the Quectel BG95-S5 3GPP non-terrestrial network (NTN) satellite communication module. The module supports 3GPP Release 17 IoT-NTN in the S and L band frequencies for satellite communications. In addition, the multi-mode BG95-S5 supports LTE Cat M1, Cat NB2, eGPRS and integrated GNSS. (Quectel Wireless Solutions, Press Release, April 2024)
• Melbourne-based IoT technology company M2M Connectivity has formed a new collaboration with Hypha to bring unbreakable satellite connectivity to public safety and emergency service agencies in Australia. The collaboration focused on solutions that combine M2M’s class-leading IoT hardware and Hypha’s expertise in satellite communication. M2M Connectivity and Hypha aimed to create a new generation of data-led connectivity solutions, which will combine Starlink with Peplink’s SpeedFusion technology. (M2M Connectivity, Press Release, October 2023)

M2M Satellite Communication Solution Market Report Coverage and Deliverables

The “M2M Satellite Communication Solution Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:

• M2M satellite communication solution market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
• M2M satellite communication solution market trends, as well as market dynamics such as drivers, restraints, and key opportunities
• Detailed PEST/Porter’s Five Forces and SWOT analysis
• M2M satellite communication solution market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the M2M satellite communication solution market
• Detailed company profiles