The Satellite Iot Market Is Projected To Grow From Usd 1.1 Billion In 2022 To Usd 2.9 Billion By 2027, At A Cagr Of 21.9%

The global satellite IoT market is expected to grow at a significant rate during the forecast period, driven by the demand for LEO-based services, availability of funding, high-speed broadband, growth of governments in industrialized countries, and demand for low-cost broadband among consumers in less developed countries. By frequency band, Ku-and Ka-band is expected to register the fastest growth rate during the forecast period. Ku-band frequency operates in a range between 10.7 GHz and 12.75 GHz and Ka-band frequency operates between 18GHz-40GHz.