5G NTN Market Projected to Soar to USD 31.7 Billion by 2029, Catalyzing Revolutionary Connectivity Solutions
Global 5G NTN Market
Dublin, Sept. 05, 2024 (GLOBE NEWSWIRE) -- The "Global 5G NTN Market by Offering (Hardware, Software, and Services), End-Use Industry (Maritime, Aerospace & Defense, Government, Mining), Application (EMBB, URLLC, MMTC), Location (Urban, Rural, Remote, Isolated), Platform and Region - Forecast to 2029" report has been added to ResearchAndMarkets.com's offering.
The global 5G Non-Terrestrial Networks (NTN) market is experiencing a substantial growth trajectory, with an estimated value of USD 7.2 billion in 2024, forecasted to expand to USD 31.7 billion by 2029. This remarkable growth, calculated at a CAGR of 34.7%, is primarily fueled by the upsurge in consumer electronics uptake and the increased demand for continuous connectivity across diverse sectors and locations.
A notable portion of this market expansion is attributed to the Geo-Stationary Earth Orbit (GEO) satellite segment, which is expected to dominate the industry within the forecast period. Despite latency challenges, the extensive coverage provided by GEO satellites is crucial for maritime communication and remote monitoring applications, ensuring their sustained significance in the growing market.
Service Sector Expansion
The service segment within the 5G NTN market is witnessing an exponential increase, spurred by the need for uninterrupted high-speed internet access and seamless global coverage for businesses, governments, and individuals alike. A spectrum of services, including network connectivity and deployment, underscores the segment’s significance to a digitally connected future.
Asia Pacific Region to Lead Market Growth
The Asia Pacific region is poised to experience the highest growth rate in the 5G NTN market during the forecast period. Contributing factors include elevated adoption of smart devices, substantial mobile subscriber bases, and escalating smart infrastructure development like smart cities that boost demand for public safety and advanced communication networks.
Looking to the Future
The growth of the 5G NTN market is poised to revolutionize connectivity, with potential impacts in a variety of applications from urban to remote environments. The industry will benefit from technology enhancements that address coverage limitations, ensuring integration with 5G and beyond, with the Internet of Things (IoT) playing a pivotal role.
This report reflects the market’s potential through analysis of key drivers, opportunities, and challenges. It also outlines the competitive landscape, showcasing the strategic initiatives among leading market participants to harness the opportunities offered by the 5G NTN sector.
As the 5G NTN market advances, stakeholders are positioned for strategic growth, diversified services, and a stronger, more connected global community. With a wealth of services and advancements on the horizon, the industry is well-equipped to meet the increasing demands for connectivity and remain a critical player in the global communication ecosystem.
Key Attributes:
Report Attribute | Details |
No. of Pages | 233 |
Forecast Period | 2024 - 2029 |
Estimated Market Value (USD) in 2024 | $7.2 Billion |
Forecasted Market Value (USD) by 2029 | $31.7 Billion |
Compound Annual Growth Rate | 34.7% |
Regions Covered | Global |
Companies Featured
Thales
Echostar Corporation
Qualcomm Technologies
Mediatek
Spacex
Keysight Technologies
Gatehouse
Softbank Group
Rohde & Schwarz
Ses
Zte
Viavi Solutions Inc.
Telefonica
Viasat
Globalstar
Spirent Communications
Ericsson
Nokia
Radisys
Telesat
Ast Spacemobile
Oneweb
Omnispace
Skylo
Spaceiot
Sateliot
Nelco
Kuiper Systems
For more information about this report visit https://www.researchandmarkets.com/r/zc6agl
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