This is predicted to rise to about $13.3 billion by 2028, but the revenue from so-called direct-to-cellphone satellite connectivity – your smartphone uses an overhead orbiting bird rather than a nearby cell tower – is set to rocket from virtually nothing today to pass broadband in 2027, while IoT will only just top a billion.
I am surprised that they smartphone level satellite services to overtake broader internet use cases; with the growth coming from North America.
I guess North America's low population densities is a big factor.