On the edge of a new global IoT era
Global iot market to surpass $1 trillion mark by 2024 says GlobalData
With IoT technology, we can not only manage our homes, our car or our cities, but also critical elements of our economy such as the global supply chain, our energy grid, our public infrastructure, agriculture, environment monitoring or water management structures..
The Internet of Things (IoT) is a new generation of “smart” technology that is emerging in all sectors in society.
We have IoT in the house like our central heating or the
home security system. We have it in the car to guide us through
Companies, businesses and organizations rely on IoT to track, monitor and manage assets, ensure the safety of their workers, and improve remote operations.
Governments, utility companies, water and energy infrastructure are monitored and managed with IoT.
IoT needs connectivity however and both the wifi/bleuthooth in your house and the terrestrial telecom networks like 2G/3G/4G/5G cellular cover only 10- 15 percent of the planet,
That is were satellite comes in, and with it a new IoT category emerged: satellite IoT.
Research company NSR expects strong growth of the total satellite IoT market, with the new cube sat based satellite networks driving a large part of that growth while opening up new markets.
Satellites are providing IoT connectivity already since decades, serving the needs for critical communications in a lot of sectors in society. Currently circa 4,5 Million SatIoT units are in the field.
The new generation cube sat based satellite IoT networks, offering low cost, low power connectivity will disrupt this market.
This will expand and open up new markets like for infrastructure monitoring in the government or public sector.
Public/Private investments will bring data gathering networks for environmental monitoring, public infrastructure, watermanagement, agriculture or weather and climate monitoring up to date in the coming years..
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How to seize the satellite IoT opportunity?
The development of the global sat-iot market is very much in it's begin stage of a decade full of changes. A total of 38 sat iot networks
are on the market, sensor development is accelarating, edge computing, data analytics and cloud computing are
transforming our world. The IoT value chain is very fragmented however and business models are complex.
Opportunity lies where complexity is the highest.
If you are thinking to develop a low cost/low power IoT application that can be used at every location on the globe,
there is no better time to start then now.
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