Is IOT The Next Industrial Satellite Communication Revolution?
The Internet of Things (IoT) and associated MachineTo-Machine (M2M) connectivity has been named the next Industrial Revolution, as it will bring major changes in the way all businesses, governments, and people will interact with each other, as well as with the entire world. In this article, we will explore if IoT/M2M will also bring about the next Industrial Satellite Communications (SATCOM) Revolution. Forecasts for growth and the expected number of IoT/M2M devices are staggering. Just to take one example, the Ericsson Mobility Report(*1) beginning of 2016 predicts IoT will overtake mobile phones by 2018 and predicts that between 2015 and 2021 the number of IoT/M2M connected devices will grow 23 percent annually. Furthermore, Ericsson predicts the number of IoT-connected devices is expected to grow 23 percent annually, and of the 28 billion total devices that will be connected by 2021, close to 16 billion will be IoT devices.
Other notable forecasts summed up by Forbes(*2) on November 2016 are McKinsey’s estimates that the total IoT market size in 2015 was up to $900M, growing to $3.7B in 2020 attaining a 32.6% CAGR, the General Electric prediction that the Industrial Internet of Things (IoT) investment is expected to top $60 trillion during the next 15 years, and the IHS forecast predicting that the IoT market will grow from an installed base of 15.4 billion devices in 2015 to 30.7 billion devices in 2020 and 75.4 billion in 2025.
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