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In short According to a new market report on the topic, the number of global satellite IoT subscribers reached 5 million in 2021. Three key developments to watch for in the coming years: The rise of low Earth orbit (LEO)-based networks, the adoption of hybrid satellite-terrestrial connectivity, and the entry of tech giants as operators. The market is expected to grow to $1 billion by 2026 with the competitive intensity remaining extremely high.
Exhibit 1: 44 5G IoT use cases based on their current level of IoT maturity and the estimated market potential for 5G 76M 5G IoT connections across 40+ use cases by 2025 5G is the fifth generation of mobile communication technology and the first that is specifically designed for various vertical IoT use cases with demanding requirements, including gigabit data rates, millisecond latencies, ultra-high network reliability and massive connection density.
Developments in 5G, artificial intelligence (AI) and IoT technologies are leading towards what is being hyped as the era of intelligent connectivity. While this fusion of technologies has the potential to change the way we live and work, there are still uncertainties and challenges that need to be addressed before the benefits can be realized.
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