Dublin, Jan. 22, 2024 (GLOBE NEWSWIRE) -- The "5G Satellite Communication Market - Forecasts from 2023 to 2028" report has been added to ResearchAndMarkets.com's offering.
The 5G satellite communication market is expected to grow at a CAGR of 48.67%, from US$2.012 billion in 2022 to US$21.725 billion in 2028.
INCREASING SATELLITE GROUND SEGMENT'S REVENUE, GLOBAL, IN BILLION US DOLLARS
The 5G satellite communication market is driven by the growing demand for high-speed, low-latency connectivity across various applications and regions, the improved performance and efficiency of 5G satellite technologies, and the rising use of satellites for media and entertainment.
For instance, as per the "25th Annual State of the Satellite Industry Report" released by the Satellite Industry Association, the revenue of the satellite ground segment was valued at USD 135.24 billion in 2020 and USD 142 billion in 2021. The increasing revenue of the satellite ground segment indicates a growing demand and investment in satellite communication solutions, especially for remote and rural areas that lack adequate terrestrial coverage. It also suggests that the satellite industry is innovating and developing new technologies and products that can enhance satellite communication's performance, reliability, and security.
EMERGING OPPORTUNITIES FOR 5G IN THE SATELLITE COMMUNICATION MARKET
GOVERNMENT AND COMMERCIAL
The factors that propel the 5G satellite communication market are the need for wide-area coverage and seamless connectivity for diverse applications, the enhanced capabilities and features of 5G satellite solutions, and the increasing adoption of satellites for broadcasting services.
The 5G satellite communication market is segmented by end-users into defense, government, commercial, consumer, and others. The developments and initiatives in the government and commercial segments are playing a crucial role in driving advancements and improving the 5G satellite communication market.
These sectors are actively investing in satellite communication solutions to meet the growing demand for high-speed, low-latency connectivity across various applications and regions. The improved performance and efficiency of 5G satellite technologies and the rising use of satellites for media and entertainment have spurred innovation and investment in this market.
GEOGRAPHICAL PRESENCE
The global 5G satellite communication market consists of major countries undertaking steps to secure their 5G network. China is expected to witness a higher CAGR during the forecasted period. In addition, a few of the major countries include the USA, Japan, South Korea, the United Kingdom, and Germany.
Companies Mentioned
- SES S.A.
- Intelsat
- Avanti Hylas 2 Limited
- Eutelsat Communications SA
- Omnispace LLC
- OneWeb
- NTT Limited
- ND Satcom
SEGMENTATION
By Orbit
- Geostationary Earth Orbit (GEO)
- Medium Earth Orbit (MEO)
- Low Earth Orbit (LEO)
By Solution
- Backhauling and Tower-Feed
- Communications on the Move
- Trunking and Head-end Feed
- Hybrid Multiplay
By End User
- Defense
- Government
- Commercial
- Consumer
- Others
By Geography
- Americas
- USA
- Others
- EMEA
- Germany
- UK
- Others
- APAC
- China
- Japan
- South Korea
- Others
For more information about this report visit https://www.researchandmarkets.com/r/fmtq23
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