NSR’S Machine to Machine (M2M) and Internet of Things (IoT) via Satellite, 8th Edition (M2M8) report, releasing tomorrow, finds the global satellite M2M and IoT market reaching over $2.9 billion in annual retail revenues by 2026. This growth is driven by over 6.8 million in-service terminals. Land Transport, especially cargo tracking, has the largest market share in terms of both in-service units and retail revenues, and will be the most profitable and sought-after segment of the industry. “Revenues are growing year-over-year across each of the 22 applications NSR identified, and will accelerate as new M2M capacity supply, in the form of new constellations, come online in the medium term. This presents strong opportunities for all aspects of the M2M/IoT value chain to gain users and revenues in an expanding addressable market.” notes Alan Crisp, Senior Analyst and lead report author. “Most increases in new demand for M2M service today stem from basic product offerings, as for many use cases bandwidth requirements remain in the kilobyte range.” While most M2M/IoT services require only low bandwidth today, over the next decade requirements for a few verticals will diverge with additional bandwidth requirements for Big Data analysis, engine telematics and live data streaming, and will benefit from new MSS constellations from major satellite operators. In addition, low bandwidth and latency insensitive applications will be targeted by an upcoming plethora of small satellite constellations, such as for the agriculture and tracking segments. However, while there are expected to be billions of Internet connected devices coming online in the next few years, NSR finds the business case for small satellite IoT exclusive constellations has yet to be proven, especially with exponential growth of Low Power Wide Area (LPWA) and terrestrial networks. However, low cost terminals and long battery life will be key requirements for small satellite IoT constellations.