IoT Satellite Connections to Reach 197.7M by 2035

The study indicates that Internet of Things (IoT) communications via satellites are expected to expand significantly, reaching 197.7 million connections by 2035, up from 7.7 million in 2023, with a compound annual growth rate (CAGR) of 31%. The spread of satellites, increased bandwidth, and decreasing costs are anticipated to drive this growth, with faster expansion in low Earth orbit (LEO) satellites, which could grow at a rate of up to 88.6% annually. In contrast, growth in geostationary (GEO) satellites is expected to be relatively modest at approximately 7.3%. Use cases will vary across sectors such as agriculture, defense, energy, and transportation, paving the way for increased adoption in the automotive industry—where the number of connected vehicles is projected to skyrocket from 11,000 to over 112 million by 2035, with a CAGR of 115%. The study emphasizes the importance of flexible global coverage to address connectivity gaps, especially as reliance on data-intensive devices and automated applications continues to grow.

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