Dublin, Jan. 29, 2024 (GLOBE NEWSWIRE) -- The "5G NTN Global Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
A comprehensive market research report on the burgeoning 5G Non-Terrestrial Network (NTN) industry has been released, uncovering the dynamic growth trajectory of this cutting-edge sector. The report heralds an impressive expansion of the 5G NTN market from $4.51 billion in 2023 to a projected $14.93 billion in 2028, charting an annual growth rate of 27.1%.
The accelerating demand for enhanced connectivity across an array of industries and the proliferation of smart devices and IoT are pinpointed as key drivers of this growth. This in-depth analysis provides an exhaustive examination of the factors fuelling the market's evolution, the challenges it faces, and the opportunities that lie ahead.
In the detailed assessment, the report acknowledges the integral role that connected devices play in the expansion of the 5G NTN market. The connection of everyday objects via the internet is transforming how we interact with technology, and the advanced capabilities of 5G NTN are primed to accommodate the swelling tide of these devices. The study meticulously outlines how this technology provides essential infrastructure supporting the rapid data transfer and enhanced communication required in the modern digital ecosystem.
Regional And Sectorial Insights
With North America leading the pack as the largest regional player in 2023, the Asia-Pacific region is poised to emerge as the fastest-growing market segment during the forecast period. The report offers an insightful breakdown of the market across different geographical landscapes, including Western Europe, Eastern Europe, South America, the Middle East, and Africa.
Furthermore, the aerospace industry stands out as a significant beneficiary of 5G NTN, with advancements in connectivity poised to revolutionize this sector. Enhanced data transfer speeds and better operational capabilities are set to usher in a new era of safety and efficiency in aerospace applications.
Key Players and Strategic Partnerships
The landscape analysis features major entities that are at the forefront of the 5G NTN innovation curve. These organizations are forging strategic alliances and partnerships aimed at bolstering technological capabilities and expanding their market presence. Innovative product launches are highlighted, including Samsung's secure 5G NTN solutions aimed at transforming global telecommunications.
In other significant industry moves, the report details mergers and acquisitions designed to streamline 5G NTN development and satellite communication integration, such as E-Space's acquisition of CommAgility, which is set to accelerate satellite payload innovation and customer-centric solutions.
- Anritsu Corporation
- AST and Science LLC
- Qualcomm Technologies Inc.
- Nokia Corporation
- And many other key players
collaborate within this space, driving forward the mission to elevate what's possible with 5G NTN.
Market Components and Utilization
The report elucidates on a variety of key market components including hardware, solutions, and services. These components are pivotal in empowering broad applications such as Enhanced Mobile Broadband (EMBB), Ultra-Reliable Low Latency Communication (URLLC), and Massive Machine Type Communication (MMTC), which cater to critical end-user industries including maritime, aerospace and defense, and mining among others.
This 5G NTN market research offers a thorough understanding of the current and future market scenarios, outlining the growth strategies of incumbents, the industry's competitive landscape, and crucial market trends. The report underscores the significant shifts occurring in the sector and provides stakeholders with the data-driven insights necessary to navigate this rapidly evolving market landscape. For entities invested in the technology sector and those keeping a close eye on emerging trends in telecommunications, this report serves as an indispensable resource, shedding light on the market's vast potential.
A selection of companies mentioned in this report includes
- Anritsu Corporation
- AST and Science LLC
- GateHouse SatCom A/S
- Globalstar Inc.
- Gilat Satellites Network
- EchoStar Corporation
- Media Tek Inc.
- Nelco Limited
- Inmarsat Global Limited
- Nokia Corporation
- OneWeb Network Access Associates Limited
- Qualcomm Technologies Inc.
- Intelsat LLC
- Rhode and Schwarz GmbH
- Keysight Technologies Inc.
- Omnispace LLC
- Telefonaktiebolaget LM Ericsson
- Thales Group
- SoftBank Group Corporation
- SES S.A.
- ZTE Corporation
- Spirent Communications
- BAE Systems plc
- Cobham plc
- General Dynamics Corporation
- Harris Corporation
- Honeywell International Inc.
- Lockheed Martin Corporation
- Northrop Grumman Corporation
- Raytheon Technologies Corporation
- Safran S.A.
- Airbus SE
- Boeing Company
- Bombardier Inc.
- Embraer S.A.
- General Electric Company
- Rolls-Royce Holdings plc
For more information about this report visit https://www.researchandmarkets.com/r/dhlq0u
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