That’s a growth rate of 150%, from 10,000 satellites this year to more than 24,000 by 2029, but multi-orbit solutions are the key to success
A new study from Juniper Research predicts that the number of satellites in orbit to support IoT connectivity will grow by 150% over the next five years. That would be a rise of 10,000 satellites in 2024 to more than 24,000 by 2029.
The new report, Global Satellite IoT Services Market 2024-2030, says growth will be driven by increased demand for connectivity from IoT network users “in nomadic locations”. It forecasts that 98% of the satellites launched over the next five years will be low-Earth orbit (LEOs) due to the low cost of launches.
Multi-orbit solutions
To meet the demand for satellite connectivity for IoT, the study urges substantial investment in multi-orbit satellite solutions. This model combines the low latency and high throughput from LEOs and the extensive geographical coverage of geostationary earth orbit (GEOs) to deliver a single service.
The research found that some IoT applications – such as nomadic operational areas and conditional monitoring – necessitate the use of LEOs and GEOs for complete service provision. Partnerships that combine the two will be essential to attract enterprises in these sectors.
Return on satellite investment
This approach will also enable satellite providers to cater for many IoT use cases, including data-intensive and low power, wide area (LPWA) connections.
The study further urges satellite network operators to form strategic partnerships to fill the coverage gaps between LEO and GEO capabilities. It identified construction and infrastructure and logistics, as two key growth opportunities.