Only 15% of the world’s surface has access to the internet. According to McKinsey, it is this lack of global connectivity that is holding back the growth of the internet of things from adding US$ 2-3 trillion to the global GDP over the next ten years.1 Wyld Connect solves this problem by allowing business and governments to connect their IoT devices anywhere in the world using Low Earth Orbit (LEO) satellites. This has significant positive upsides for agriculture, the environment, supply chain, and the energy and utilities sectors.
The Company markets its Wyld Connect IoT hardware module as well as a monthly data service (connectivity fee) to customers to provide an end-to-end satellite IoT solution.
The satellite IoT market, according to a forecast by Rethink IoT (RIoT), will be worth US$5.9bn by 2025, including hardware and connectivity fees, with a base of 30.3m devices.2
“We are delighted to announce the launch date for the Wyld satellite IoT network and look forward to enabling connectivity to meet the fast-growing demand in the 85% of the Earth’s surface with little or no current service,” said Alastair Williamson. “Wyld Networks technology allows businesses to be more efficient and productive as well as meet sustainability goals.”
1 Agriculture’s technology future: How connectivity can yield new growth | McKinsey
