CHICAGO, Jan. 18, 2024 (Globe Newswire) — global 5G NTN market Its size is expected to grow from USD 4.2 billion in 2023 to USD 23.5 billion by 2028, at a CAGR of 40.7% during the forecast period, according to a new report from MarketsandMarkets™. 5G NTN stands out for its ability to manage low-latency, high-bandwidth data, creating opportunities for applications that require instantaneous responsiveness.
See detailed table of contents. 5G NTN market”
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5G NTN market trends:
driver:
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Adopt a software-centric approach
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It is necessary to cope with the extreme expansion of the scope of application.
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Evolution of 3GPP towards NTN interworking and integration
Restraint:
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Radio components must be grounded.
opportunity:
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Impact of NR-NTN integration on 5G connectivity.
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The need for NTN in the evolution to 5G and 6G
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5G NB-IoT NTN contributing to faster speeds around the world
List of major players in the 5G NTN market:
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Qualcomm Technologies
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Inc. (USA)
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SoftBank Group Corp. (Japan)
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Thales Group (France)
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Rohde & Schwarz GmbH & Co KG (Germany)
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keysight technology
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Inc (USA)
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MediaTek Inc. (Taiwan)
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SES SA (Luxembourg)
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EchoStar Corporation (EchoStar) (USA)
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SpaceX (USA)
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AST and Science
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LLC (USA)
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Additionally, traditional terrestrial networks often face challenges in remote areas such as mountains and deserts. The use of satellites and high altitude platforms (HAPs) in 5G NTN can help overcome these hurdles and effectively bridge the connectivity gap. This innovative approach provides essential connectivity for rural communities, first responders, and industries involved in resource extraction.
By component, the services segment is expected to register the highest CAGR in the 5G NTN market during the forecast period.
The 5G NTN market includes a variety of service providers serving diverse 5G NTN infrastructure needs. These services offer strategic advantages by relieving vendors of the tedious task of installing and maintaining the necessary equipment, saving both time and resources. Deploying 5G NTN services is critical to achieving scalability, ubiquity, and uninterrupted service continuity. Additionally, the 5G NTN market will expand its offering to satellite IoT services, facilitating connectivity between smartphones and satellites for both data and voice services.
By end-use industry, maritime is estimated to account for a larger market share in 2023.
Although the maritime industry contributes significantly to the global economy, seamless connectivity remains a challenge and the digitalization of maritime services has been slow. A key requirement in this area is high-speed connectivity at sea to facilitate communication between vessels, vessels and cargo. Multiple industry players are currently offering customized 5G NTN products and services for the marine industry, offering affordable pricing along with reliable tracking and monitoring capabilities. In September 2023, ZTE Corporation cooperated with China Telecom Zhejiang Co., Ltd. and China Telecom Satellite Communications Co., Ltd. to develop the industry’s first satellite project for maritime scenarios in Zhoushan City, Zhejiang Province. We have achieved an important milestone in completing our 5G NTN deployment. Telecommunications Research Institute, SpaceIoT.
Based on region, North America holds the largest market size during the forecast period.
North America is expected to hold the largest share of the overall 5G NTN market. The United States has a high adoption rate of 5G NTN technology in this region. The expected growth in demand for 5G NTN solutions is being driven by increased investment in wireless technologies by companies in these countries. His efforts to provide reliable and cost-effective solutions further contribute to the growing demand for his 5G NTN in the United States and Canada. The proliferation of 5G connectivity solutions across the region is driven by the widespread need for internet connectivity, especially in areas lacking terrestrial connectivity. As a result, the North American market continues to see significant growth in the adoption of 5G NTN solutions to meet growing connectivity demands in geographically diverse locations.
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Key players in the 5G NTN market are Qualcomm Technologies, Inc (USA), SoftBank Group Corporation (Japan), Thales Group (France), Rohde & Schwarz GmbH & Co KG (Germany), SES SA (Luxembourg), Keysight Technologies, Inc is. (USA), MediaTek Inc. (Taiwan), EchoStar Corporation (EchoStar) (USA), SpaceX (USA), AST & Science, LLC (USA), Inmarsat Global Limited (UK), OneWeb (UK), GateHouse SatCom A/ S (Denmark), Omnispace, LLC (USA), Nelco Limited (USA), Skylo Technologies (USA), ZTE Corporation (China), Globalstar, Inc (USA), Intelsat US LLC (USA), Spirent Communications (Spirent) ( Telefonaktiebolaget LM Ericsson (Sweden), Nokia Corporation (Finland), Telefonica SA (Spain), Viasat Inc, (USA), Telesat (Canada), Satelitiot (Barcelona), Kuiper Systems LLC (USA), and SpaceIoT (China). companies not only have a comprehensive and diverse product portfolio, but also a strong geographical presence. These players are poised to innovate due to the emergence of new application areas in the 5G NTN market. The 5G NTN market can focus on technology and product development. These companies offer several products and have operations all over the world. In order to increase their market share, they They rely on research and development capabilities and a diversified portfolio of products and services. These companies strengthen their footprint through product innovation, with a focus on product launches, collaborations, acquisitions, agreements, and partnerships. We are expanding our business scope.
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