Satellite IoT Boom: Space Networks Poised to Connect the Unconnected by 2029
Global Market Growth: From Niche to €1.6 Billion Just a few years ago, satellite IoT was a niche segment – but not for long. Analysts project exponential growth through the decade. Berg Insight’s latest report pegs satellite IoT connectivity revenues at €1.58 billion by 2029 (36.4% CAGR from 2024) techafricanews.com. The subscriber count is expected to quintuple, reaching 32.5 million IoT devices on satellite networks by 2029 techafricanews.com. Another analysis by IoT Analytics finds 7.5 million active satellite IoT connections in 2024, with total market (connectivity + hardware) climbing 26% annually to $4.7 billion by 2030 iot-analytics.com. In short, space-based IoT is transitioning