Debunking the Cost Myth: Why Satellite IoT Connectivity is More Affordable and Scalable Than Ever

The Changing Landscape of Satellite IoT Connectivity

The global satellite IoT market was valued at approximately USD 2 billion in 2024 and is projected to reach USD 15.5 billion by 2034, growing at a CAGR of 23.1% (Global Market Insights, 2025). This rapid growth is driven by increasing demand for reliable connectivity in remote and hard-to-reach areas across industries such as agriculture, logistics, utilities, and environmental monitoring.

For years, satellite IoT connectivity was perceived as costly and complicated—a niche solution reserved for specialised applications. However, this perception is quickly evolving as technological advances and flexible pricing models are making satellite IoT accessible to a broader range of businesses and use cases than ever before.

How Technology is Driving Down Costs

A significant contributor to reduced costs is the improved connectivity of IoT devices with satellites. Modern modules, built on global cellular standards like 3GPP Release 17, support seamless communication over both terrestrial and satellite networks. These low-cost, low-power modules eliminate the need for expensive, power-intensive hardware, dramatically lowering the barrier for large-scale satellite IoT deployments.

Myriota also pioneers an innovative infrastructure approach by combining its own satellite assets with those of trusted Space-as-a-Service partners such as Spire. As Nicole Russo, Myriota’s VP of Commercial Operations, explains:

“Building and launching your own satellites is very costly and high-risk. Our constellation mixes our satellites with Space-as-a-Service partner assets, enabling rapid deployment, lower risk, and scalable access without massive upfront investments.”

This hybrid model allows Myriota to focus on delivering secure, low-power connectivity globally while sharing costs and benefits with partners.

Network Innovations Improving Coverage and Efficiency

Satellite IoT networks are becoming more robust thanks to advancements in satellite constellations. Low Earth Orbit (LEO) and geostationary (GEO) satellites now work complementarily, extending coverage to locations beyond the reach of terrestrial cellular networks.

Hybrid networks that integrate satellite with terrestrial connectivity offer businesses improved reliability and cost flexibility. This enables them to select the optimal network solution for each location and use case, balancing performance with cost-effectiveness.

Evolving Pricing Models for IoT Data

Satellite data pricing has adapted to the unique requirements of IoT. Unlike traditional satellite communication geared toward broad, continuous data streams, satellite IoT supports a spectrum of data transmission frequencies, from small and infrequent to real-time updates depending on use case and latency needs.

This ultra-low-power, low-bandwidth approach keeps running costs affordable without compromising security or reliability. Pricing models increasingly adopt a usage-based structure, meaning customers pay only for the data they consume rather than a flat fee. Whether a utility meter transmits minimal daily updates or a logistics tracker reports location frequently, costs scale directly with usage.

This flexibility aligns perfectly with diverse application needs across remote areas and industries, making satellite IoT economically viable for agriculture, environmental sensing, and asset tracking.

Why Satellite IoT is a Scalable Solution for Your Business

Industry research confirms satellite IoT’s momentum, fueled by increasing demand for connectivity solutions in remote locations. At Myriota, we lead in making satellite IoT practical and scalable, helping customers deploy solutions that deliver real-world impact within achievable budgets.

In short, satellite IoT is no longer the expensive, complex technology of the past. It’s a secure, scalable, and affordable solution ready to unlock new business opportunities wherever connectivity is needed.

To explore how satellite IoT can unlock new opportunities for your business, contact our expert team for a personalised consultation. We’re here to help you design and deploy scalable, cost-effective connectivity solutions tailored to your unique challenges and goals.