While there will be an estimated 40 billion connected devices by 2025, a big limitation to fulfilling this technology's potential is that 90% of the world's surface doesn't have access to cellular service or WiFi. While existing satellite data services like Iridium and Starlink are rapidly growing, these services are prohibitively expensive for IoT device users and manufacturers who don't require high-speed, high-cost connectivity.

A new Silicon Valley satellite technology startup, Swarm, is addressing these issues by developing a low bandwidth, low-cost service that commercially launched in February. The service is ideal for a wide range of IoT use cases in industries ranging from agriculture to logistics to maritime to transportation.

Founded in 2016, Swarm is committed to making data and communications accessible to anywhere on the planet for just $5/month. Swarm's combination of uniquely small satellites (think the size of a grilled cheese sandwich) and user hardware deliver low bandwidth (think 90's modem speed) data services at the industry's lowest cost (1/10th the cost of traditional data services) and highest value to customers. Ben Lomgmeir, co-founder and CTO of Swarm, joins me on Tech Talks Daily to share the potential impact the company's data services could have on the IoT market.