Covina, July 31, 2024 (GLOBE NEWSWIRE) -- According to Prophecy Market Insights, the global 5G NTN market size and share is projected to grow from USD 7.23 Billion in 2024 to reach USD 158.9 Billion by 2034, exhibiting a compound annual growth rate (CAGR) of 40.4% during the forecast period (2024 - 2034).
5G NTN Market Report Overview & Introduction
5G NTN is a joining force of Satellite and Airborne communication systems to achieve global connectivity for applications such as the Internet of Things, Maritime and Aeronautical communications, and Disaster Services. This technology extends terrestrial networks into regions that are difficult to reach on land, in oceans, and within airspaces, thus offering seamless coverage over areas that lack ground infrastructure. The uses of 5G NTN, in general, across sectors, include access to high-speed internet, education, telemedicine, economic development, maritime and aeronautical industries, agriculture, and precision farming. It contributes toward secure asset tracking, autonomous vehicles, and lower deployment costs.
This also supports ground-based systems by backing up network resilience, enhancing tactical communication in the defense sector, and allowing for real-time data collection from remote sensors within environmental monitoring. Implementing 5G NTN will increase the challenges in managing signal latency and coping with non-terrestrial platform dynamics.
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Our Free Sample Report includes:
- Overview & introduction of market study
- Revenue and CAGR of the market
- Drivers & Restrains factors of the market
- Major key players in the market
- Regional analysis of the market with a detailed graph
- Detailed segmentation in tabular form of market
- Recent developments/news of the market
- Opportunities & Challenges of Market
The 5G NTN Market is characterized by rapid growth, technological innovation, and fierce competition. Companies are expanding their global presence, focusing on sustainability, and diversifying their service offerings to stay competitive.
Some of the Key Market Players:
- Qualcomm Technologies Inc
- SoftBank Group Corporation
- Thales Group
- Rohde & Schwarz GmbH & Co KG
- Keysight Technologies, Inc.
- MediaTek Inc.
- SES S.A.
- EchoStar Corporation
- SpaceX
- AST SpaceMobile
- ZTE Corporation
- GateHouse SatCom
- OneWeb
- Omnispace LLC
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Key Drivers of Target Market:
Bridging the Digital Divide
- 5G NTN provides connectivity to remote and underserved areas where terrestrial networks are deficient or nonexistent. Such connectivity empowers both people and societies by facilitating access to education, health, telemedicine, financial services, and general business activities. It will also drive the development of local economies through remote work, e-commerce, and local business creation. Further, 5G NTN contributes to social development by closing the information gap and enhancing social inclusion.
Increasing Demand for High-Speed Connectivity
- Growth in data-intensive applications like video streaming, online gaming, and virtual reality experiences—are challenging existing network capacities. Consumers and businesses alike are seeking faster download and upload speeds, lower latency, and more reliable networks for these applications. 5G NTN is a complementary solution to conventional terrestrial networks, enabling such growing demands where traditional infrastructure is limited.
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Market Key Segments
- Component Insights:
- Hardware
- Software
- Services
- Platform Insights
- Unmanned Aerial Vehicles
- Low Earth Orbit Satellites
- Medium Earth Orbit Satellites
- Geostationary Earth Orbit Satellites
- Location Insights
- Urban
- Rural
- Remote
- Application Insights
- Enhanced Mobile Broadband
- Ultra-Reliable Low-Latency Communication
- Massive Machine Type Communication
- End-User Insights
- Government
- Aerospace and Defense
- Mining
- Others
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Recent Advancements
- In February 2024, Mavenir and Terrestar Solutions Partner to Accelerate the Commercial Deployment of a 5G New Radio Non-Terrestrial Network. Mavenir, the cloud-native network infrastructure provider building the future of networks, continues its pioneering leadership in Open RAN with 5G New Radio (NR) Non-Terrestrial-Network (NTN) solutions. The latest initiative is to integrate satellite connectivity for Open RAN terrestrial networks thereby enabling seamless connectivity for users across satellite and terrestrial networks. The project is being delivered in collaboration with Terrestar Solutions, a Canadian-based Satellite Operator.
Regional Insights
- North America: North America is leading in terms of 5G NTN adoption as huge investments have been made in the technology and associated infrastructures; besides, advanced 5G network deployment is being focused on in the region so that a wide spectrum of applications can be backed which would drive innovation and productivity for further economic growth.
- Europe: 5G NTN deployment in the European region is being highly sought after for enhanced connectivity across different industries to aid and bring digital transformation. It also intends to mean green and inclusive growth, achievable by using 5G for smart cities, transportation, and industrial applications.
Browse Detail Report on "5G NTN Market Size, Share, By Component (Hardware, Software, and Services), By Platform (Unmanned Aerial Vehicles, Low Earth Orbit Satellites, Medium Earth Orbit Satellites, Geostationary Earth Orbit Satellites), By Location (Urban, Rural, Remote), By Application (Enhanced Mobile Broadband, Ultra-Reliable Low-Latency Communication, Massive Machine Type Communication), By End-User (Government, Aerospace and Defense, Mining, and Others), and By Region - Trends, Analysis and Forecast till 2034" with complete TOC @ https://www.prophecymarketinsights.com/market_insight/5g-ntn-market-5528
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