Dublin, Jan. 23, 2024 (GLOBE NEWSWIRE) -- The "Global 5G NTN Market by Component (Hardware, Software, Services), End-use Industry (Maritime, Aerospace & Defense, Government, Mining), Application (eMBB, URLLC, mMTC), Location (Urban, Rural, Remote, Isolated), Platform and Region - Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The latest insights into the burgeoning field of non-terrestrial networks (NTN) project a robust growth trajectory for the global 5G NTN market. With an estimated leap from USD 4.2 billion to USD 23.5 billion, the market is anticipated to grow at a compound annual growth rate (CAGR) of 40.7% from 2023 to 2028. This substantial growth underscores the market's response to the demand for expansive 5G network coverage in remote, rural, and underserved regions worldwide.
Fueled by advancements in satellite technology and the escalating need for uninterrupted connectivity, the market is embracing High Altitude Platform Stations (HAPS), Geostationary Earth Orbit (GEO), Low Earth Orbit (LEO) satellites, and other platforms to revolutionize 5G NTN systems. These developments promise to offer significant benefits to the end-use industries, including maritime, aerospace, defense, and government sectors. The broad adoption of smart devices and the necessity for seamless connectivity in multiple environments highlight the critical nature of these technologies in bridging the digital divide and enhancing global connectivity.
Dominant Market Segments and Emerging Opportunities: A Deep Dive Into 5G NTN Growth Areas
The study reveals that the LEO satellite segment is poised to register a higher CAGR during the forecast period. Public and private-sector partnerships underscore the pivotal role of LEO satellites in closing connectivity gaps and improving network performance. Notably, initiatives such as the significant investment by the Government of Canada with Telesat to deliver nationwide coverage via LEO satellite constellation illustrate the progressive approach towards building comprehensive 5G NTN systems.
In application terms, enhanced Mobile Broadband (eMBB) is set to retain the largest market share over the forecast period. The focus on deploying eMBB within 5G NTN is to assure high bandwidth, moderate latency, and to support high mobility, demonstrating its critical function in extending superior broadband connectivity far and wide.
Asia Pacific region emerges as a hotspot for growth and innovation within the 5G NTN market. Countries like India, China, Australia, and New Zealand are particularly noteworthy, with competitive dynamics catalyzing the expansion of 5G NTN solutions. Public safety imperatives, coupled with the adoption of advanced communication networks in the maritime sector, are just some examples of how this technology is reshaping connectivity in the region.
Leadership and Innovations: A Snapshot of Market Players
Consisting of an array of prominent names and dynamic contributors, the market is witnessing a surge of strategies such as collaborations, product launches, and research initiatives. These efforts are shaping the competitive landscape, with industry players committed to propelling the 5G NTN infrastructure forward.
The comprehensive analysis offered provides an insight into market drivers, restraints, and opportunities that are molding the industry. In detail, the report discusses the implications of a software-centric approach, the challenges of extreme coverage extension, and the evolving interoperability between 3GPP and NTN.
- Exploration of Market Trends: In-depth insights provide a detailed understanding of the current market drivers, the impact of 5G integration, and the possible role of NTN in shaping future 5G and 6G landscapes.
- Product Development and Innovation: The report sheds light on the latest technological advancements, R&D activities, and new product and service launches that are influencing the 5G NTN market's growth.
- Market Diversification: It offers exhaustive data on new product services, untapped geographies, and recent investments, aiding stakeholders in identifying growth opportunities.
- Competitive Assessment: A thorough assessment of market shares, growth strategies, and service offerings provided by leading market players facilitates a better understanding of the competitive environment.
The insights detailed in the report aim to equip stakeholders with the necessary information to navigate and capitalize on the 5G NTN market's pulsating dynamics, aligning with go-to-market strategies and facilitating informed decision-making.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 185 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $4.2 Billion |
| Forecasted Market Value (USD) by 2028 | $23.5 Billion |
| Compound Annual Growth Rate | 40.7% |
| Regions Covered | Global |
Companies Mentioned
- Ast Spacemobile
- Echostar Corporation
- Ericsson
- Gatehouse
- Globalstar
- Inmarsat Global
- Intelsat
- Keysight Technologies
- Kuiper Systems
- Mediatek
- Nelco
- Nokia
- Omnispace
- Oneweb
- Qualcomm Technologies
- Radisys
- Rohde & Schwarz
- Sateliot
- Ses
- Skylo
- Softbank Group
- Spaceiot
- Spacex
- Spirent Communications
- Telefonica
- Telesat
- Thales
- Viasat
- Zte
For more information about this report visit https://www.researchandmarkets.com/r/ly52sl
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