The prediction comes in a newly published research document titled Global Satellite IoT Services Market 2024-2030.
Discussing the findings, a spokesperson said: “[The number will increase] owing to increased demand for connectivity in nomadic locations from IoT network users. [The report] forecasts that 98 per cent of satellites launched over the next five years will be low Earth orbit [LEO], due to [their] low cost.”
The spokesperson continued: “To meet this growing demand for satellite IoT connectivity, the study urges substantial investment in multi-orbit satellite solutions.
"This model combines the low latency and high throughput from LEO satellites and the extensive geographical coverage of GEO [geostationary Earth orbit] satellites over a single service. This will enable satellite IoT providers to cater for the wide spectrum of IoT use cases, including data-intensive and low power, wide area [LPWA] connections.”
The study furthermore urges satellite network operators to form “strategic partnerships” to fill in coverage gaps between LEO and GEO capabilities.
According to Juniper, the research was based on a dataset containing over 143,000 market statistics within a six-year period, across 60 countries.
