A contract was also inked between eSAT and Thuraya, the satellite provider’s mobility division, to jointly create an IoT platform that will provide access on a worldwide scale.
Yahsat, also known as Al Yah Satellite Communications, recently acquired a small share in eSat Global, a company that offers connection solutions for the Internet of Things, as it looks to increase its business in the quickly expanding IoT market. The company claimed in a statement to the Abu Dhabi Securities Exchange, where its shares are traded, on Tuesday that the move will deliver a “new disruptive, low-cost, low latency, direct-to-satellite IoT service to the market.”
It is in accordance with the company’s strategy of prioritising growth areas that the acquisition of eSat will allow Yahsat to grow in the “fast-growing” IoT sector, which is currently “much underpenetrated,” it said. The amount of the share and the specifics of the investment were not made public. Thuraya, a division of Yahsat’s mobility division, also entered a business arrangement with eSat to create a subsequent-generation IoT platform that will give users access to an international IoT portfolio.
“Secure and long-term access to an end-to-end, low power wide area network (LPWAN) IoT system and portfolio” will be given to Thuraya, according to Yahsat. By the fourth quarter of 2023, the firms hope to have the IoT system and portfolio launched and to have started doing business. According to Yahsat, the satellite IoT market is expected to generate cumulative revenue of $6 billion over the next five years, growing at a compound annual rate of 22% faster than the global IoT market, which is expected to reach $525 billion.
The 2007-founded satellite operator currently provides multi-mission satellite services in over 150 nations throughout Europe, the Middle East, Africa, South America, Asia, and Australasia. Five satellites in its fleet allow it to reach more than 80% of the world’s population.
According to chief commercial officer Sulaiman Al Ali, the company anticipates that its IoT business will play a significant role in advancing its commercial mobility business. According to Yahsat, Thuraya’s service partners will be able to solve crucial IoT requirements in important industries including smart agricultural, environmental monitoring, digital maritime, and cold-chain tracing thanks to the relationship with eSat.
According to the statement, the new platform will allow “millions of devices to be repaired simultaneously, effectively, and affordably.” Anywhere in Thuraya’s coverage area, devices outfitted with the new eSat communication module will be able to communicate with satellites using very low transmit power. The new platform, which includes ubiquity, 5G considerations, and will incorporate features to allow cheap messaging services to ensure constant connectivity for smartphone users, particularly in emergency scenarios, has been designed.