Omdia sees satellite IoT connections rising to 197.7 million by 2035

New research from Omdia shows satellite Internet of Things entering a phase of rapid expansion. The firm expects global satellite IoT connections to rise from 7.7 million in 2023 to 197.7 million by 2035, implying a compound annual growth rate of 31%.

Low Earth Orbit (LEO) systems are set to be the main growth engine. Omdia projects LEO satellite IoT connections to grow at a CAGR of 88.6% over the forecast period, supported by faster constellation deployment, greater bandwidth availability, improved service reach, and falling connectivity costs.

Geostationary Earth Orbit (GEO) satellite IoT will also contribute to market growth, though at a more moderate CAGR of 7.3%.
Omdia principal analyst John Canali said the timing of these technical advances matters as much as the advances themselves. As IoT matures, enterprises increasingly need global coverage without connectivity gaps, as well as stronger resilience when terrestrial networks are unavailable. Those needs will become even more important as IoT devices support more data-intensive models and automated applications.

Omdia expects satellite connectivity to gain traction across key IoT verticals, including agriculture and environmental monitoring, defense and military, energy and utilities, and transportation and logistics.