Dublin, Sept. 11, 2023 (GLOBE NEWSWIRE) -- The "Satellite 5G New Radio (NR) Market - A Global and Regional Analysis: Focus on Frequency Band, Services, End User, Terminal Type, and Country - Analysis and Forecast, 2023-2033" report has been added to ResearchAndMarkets.com's offering.
The Global Satellite 5G NR (New Radio) Market is projected to achieve a market value of $14.47 billion by 2033, growing at a Compound Annual Growth Rate (CAGR) of 11.9% over the forecast period.
Introduction to Satellite 5G NR
The emergence of satellite 5G NR marks a pivotal stage in global connectivity, blending cutting-edge technology with space-based infrastructure. This fusion enables unparalleled levels of communication and data transfer. Satellite 5G NR capitalizes on low Earth orbit (LEO) and geostationary satellites, delivering seamless coverage across urban, rural, and remote regions.
This convergence bridges digital divides and transforms various industries including telecommunications, Internet of Things (IoT), and autonomous vehicles. The amalgamation of satellite and 5G technologies has the potential to revolutionize connectivity and shape a more connected future.
Market Insight
Satellite 5G NR builds upon the growth of mobile communication technology and the evolution of 5G to meet the demands of high-speed and reliable wireless access.
Unlike traditional terrestrial networks, satellite 5G NR harnesses the power of satellites to offer universal coverage, especially in remote and underdeveloped areas.
Companies like SpaceX, OneWeb, and Telesat are working on satellite constellations to provide 5G coverage worldwide, benefiting sectors such as telecom, IT, education, and healthcare.
Industrial Transformation
Satellite-enabled 5G NR technology has catalyzed significant changes across industries, unlocking unprecedented communication possibilities.
Industries experience enhanced efficiency and real-time decision-making in remote and challenging environments.
This transformation leads to smarter cities, resilient supply chains, and better resource management, driving sectors towards greater efficiency and sustainability.
Segmentation Insights
- End User: Telecom and IT, with a 30% share in 2022, leads the satellite 5G NR market. The ability to bridge connectivity gaps in underserved areas drives this growth.
- Services: Enhanced Mobile Broadband (eMBB) segment reported a revenue generation of $2.66 billion in 2022 and is projected to grow at a CAGR of 11.90% during 2023-2033.
- Frequency Band: The 1 GHz to 6 GHz frequency band is projected to reach $6.37 billion by 2033, driven by the development of technology in this spectrum.
Regional Dynamics
- North America accounted for 23% of the market share in 2022, driven by the presence of key companies like Cisco Systems, Inc., Intel Corporation, and Qualcomm Technologies, Inc.
- The growth of satellite 5G NR is global, with regions such as Europe, Asia-Pacific, the Middle East and Africa, and Latin America contributing to the expansion.
Demand Drivers and Limitations
- Drivers: Seamless global coverage and the potential to bridge the digital divide are key drivers propelling the adoption of satellite 5G NR technology.
- Limitations: High infrastructure investment costs pose financial challenges to companies entering the market.
Market Players and Competition
Established players dominate the market (80% share), with start-ups capturing 20%. As demand for global connectivity grows, more players are expected to enter the market each year.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 175 |
| Forecast Period | 2023 - 2033 |
| Estimated Market Value (USD) in 2023 | $4.69 Billion |
| Forecasted Market Value (USD) by 2033 | $14.47 Billion |
| Compound Annual Growth Rate | 11.9% |
| Regions Covered | Global |
Market Dynamics
Drivers
- Increasing Adoption of IoT and Cloud-Based Applications
- Seamless Global Coverage
Challenges
- High Latency and Network Performance Due to Inappropriate Spectrum Allocation
- High Infrastructure Investment Cost
Opportunities
- Communication Satellites Constellation Deployment
- Hybrid Satellite Terminals
Strategies
- Partnerships, Collaborations, Agreements, and Contracts
- Market Developments
Companies Mentioned
- Cisco Systems, Inc.
- Deutsche Telekom AG
- Fujitsu
- Gatehouse Satcom A/S
- Huawei Technologies Co. Ltd.
- Intel Corporation
- Nokia
- NEC Corporation
- Telefonaktiebolaget LM Ericsson
- ZTE Corporation
For more information about this report visit https://www.researchandmarkets.com/r/vprzrb
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