Satellite IoT Market to Grow to 32.5 Million Subscribers by 2029, Driven by Remote Connectivity Needs

A new report from Berg Insight, an IoT analyst firm, projects the global satellite IoT subscriber base to grow from 5.8 million in 2024 to 32.5 million by 2029, at a compound annual growth rate (CAGR) of 41.1 percent. The report highlights that only 10 percent of the Earth’s surface has terrestrial connectivity, creating opportunities for satellite IoT in remote areas for applications in agriculture, asset tracking, maritime and intermodal transportation, oil and gas exploration, utilities, construction, and government sectors.

The study covers 46 satellite IoT operators, with Iridium, Orbcomm, Viasat (Inmarsat), and Globalstar identified as the largest. Iridium leads with 2.0 million subscribers, reflecting 10 percent growth in the past year. Orbcomm, with 742,000 subscribers across its own and Viasat’s networks, has shifted to an end-to-end solution provider and reseller for Viasat and others. Globalstar reported 0.51 million subscribers, while operators like Myriota (Australia), Kineis (France), and Thuraya (UAE) each have tens of thousands of connections.

Emerging initiatives include Astrocast, AST SpaceMobile, Geespace, Hubble Network, Kineis, Ligado Networks, Lynk, Myriota, Omnispace, OQ Technology, Plan-S, Sateliot, Skylo, and Starlink, many utilizin...