LTE IoT market is riding high on high connectivity on offer, evolving potential of Internet of Things (IoT) technology, and firm support from government entities around the world. LTE is an abbreviation of Long Term Evolution.
The LTE technology has enabled speeds of upto 100mbps for smartphones and other connected devices. These high speeds are essential for key worldwide initiatives such as smart city infrastructure. Additionally, governments around the world are counting on these developments to improve key services such as traffic management, power consumption, and many more. Additionally, these services also offer many commercial opportunities for various players in the LTE IoT market. These opportunities include third-party managed services, and automation opportunities for sectors as healthcare.
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Mobile-Satellite Communication Could be the Future for LTE IoT market
Recently, Sequans, a global manufacturers of LTE chips announced collaboration with defense contractor Lockheed Martin to tailor LTE chips to communicate with satellite systems. These companies are not the only ones interested in this development.
Earlier, Ubiquitilink, a small startup came up with the idea of to enable smartphones with existing wireless software to communicate with satellites. The startup has launched its satellite already and its founder claims that the startup can bring the technology costs down to as low as $5 per person in the near future. The company plans on launching several thousand satellite in space by 2023.
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Satellite communication can open tremendous commercial opportunities for various players in the LTE IoT market as the technology is essential for applications such as shipping, connected cars, and navigation. Additionally, this development can open major commercial opportunities in the LTE IoT market. Several companies such as security and monitoring companies rely on satellite provided maps, and cameras to track commercial activity.
A director at Lockheed Martin, Scott Landis, stated that LTE to satellite signifies a key breakthrough in mobility and connectivity.