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The global satellite IoT market is expected to see rapid growth in the next few years, reaching $4.34 billion in 2028 at a CAGR of 22.4%. This growth can be attributed to the rise in demand for connected devices, advancements in wireless technology, and the increasing focus on eco-friendly satellite technologies. Major companies in the market include Airbus SE, Northrop Grumman Corporation, and Space Exploration Technologies Corp. Other key trends include the integration of satellite technology with 5G networks and advancements in optical communication.