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Is There Enough IOT Business to Go Around?
Forecasts on future Internet of Things (IOT) business opportunities are enough to give a salesperson high blood pressure. IDC forecasts a Compound Annual Growth Rate (CAGR) of 13.6 percent from 2017 to 2022, when worldwide spending on IOT will reach $1.2 trillion. IOT Analytics offered a near-term forecast that the global IOT market will grow 37 percent to $151 billion in 2018 alone. Meanwhile, Ericssonexpects there to be 3.5 billion cellular IOT connections in 2023, growing at a CAGR of 30 percent. It may seem silly to ask the question, but will there be enough IOT business to go around, where satellite is concerned? NSR published a striking statistic this year. Cellular backhaul is a big business for satellite and teleport operators, and they are cheering on the deployment of 5G with its immensely greater appetite for bandwidth (as long as they don’t have to lose too much C-band spectrum in the process). Backhaul is supposed to be worth about $33.2 billion worldwide by 2020. Yet, satellite currently provides only 1.4 percent of all cellular backhaul. Nice business, but also not much more than a rounding error in the greater scheme of things.
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