Report: LEO satellites fuel next space race
February 17, 2022
The new space race focuses on satellite Internet with a promise of higher speed and lower latency for industrial and business-oriented communication applications. As the connectivity revolution gathers momentum, low earth orbit satellites (LEOs) penetrate innovative application areas due to superior performance and positioning compared to geostationary and middle earth orbit satellites in remote tracking, climate monitoring, and inter-vehicular networking, according to GlobalData, a ldata and analytics company.
GlobalData’s FutureTech Series report reveals the futuristic latency-critical applications of LEOs as the technology widens its global footprint.
Kiran Raj, Principal Disruptive Tech Analyst at GlobalData, comments: “Venture capital (VC) deals in the LEO space witnessed a massive rise in 2021 with nearly 650 per cent year-on-year growth. An unprecedented level of this funding is flowing into the space economy, beyond satellite communications, into ventures to drive creative concepts and versatile use-cases.”
Sanchari Chatterjee, Senior Disruptive Tech Analyst at GlobalData, notes: “Post Covid-19 pandemic, LEOs could be potentially critical to offer lightning speed broadband services, tracking of assets, securitising data, and strengthening the network infrastructure to provide communication resilience in digital oilfields, satellite farming, and connected vehicles.”