CHICAGO, July 24, 2024 (GLOBE NEWSWIRE) — global 5G NTN Market During the forecast period, the market size is expected to expand from USD 7.2 billion in 2024 to USD 31.7 billion in 2029, at a compound annual growth rate (CAGR) of 34.7%.According to a new report by MarketsandMarkets™. The 5G NTN industry is expanding due to advancements in satellite technology, especially various types of satellite constellations. The reduction in latency and time taken for data transmission enables real-time applications such as remote surgery and driverless cars. Moreover, high altitude platforms outperform traditional satellites in terms of coverage and capacity. These technological advancements will enable the expansion of 5G networks at reasonable costs, thus driving significant market growth.
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5G NTN Market Trends:
driver:
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Adopting a software-centric approach
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Extreme coverage expansion needs to be addressed
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3GPP Evolution Towards NTN Interoperability and Integration
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Increasing demand IoT
Restraints:
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The radio components must be grounded.
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Regulatory constraints
opportunity:
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Impact of NR-NTN integration on 5G connectivity
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The necessity of NTN in the evolution towards 5G 6G
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5G NB-IoT NTN contributes to faster speeds around the world
5G NTN Market Top Companies List:
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Qualcomm Technologies 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 Technologies (USA)
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MediaTek Inc. (Taiwan)
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SES SA (Luxembourg)
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EchoStar Corporation (USA)
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SpaceX (USA)
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AST SpaceMobile (USA)
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Based on offering, the hardware segment is expected to hold the largest market size during the forecast period.
The 5G NTN ecosystem includes various dedicated hardware components that are critical for its operation and scalability. At its core are User Equipment (UE), which includes satellite-enabled devices that can connect to the NTN network for seamless communications. These UEs are complemented by Satellite Gateway Stations (VSATs), which are key nodes that facilitate two-way data exchange between ground stations and satellites, ensuring robust network coverage and reliability. In addition, base stations act as terrestrial anchors and interface with the NTN network to extend coverage and efficiently manage network traffic. Together, these hardware elements form an advanced infrastructure that supports high-speed data transmission with low latency, essential for real-time applications. The 5G NTN hardware market accounts for the largest segment as it plays a key role in expanding. 5G It provides connectivity beyond terrestrial limitations and meets the growing demand across various industries for reliable, high-performance communication solutions across global and remote locations.
Based on platform, the LEO satellite segment is expected to maintain a high growth rate during the forecast period.
The innovative potential of low Earth orbit (LEO) satellite constellations is driving the 5G NTN industry. These constellations orbit fairly close to Earth, offering several advantages over traditional options. Their low altitude significantly reduces latency, enabling real-time applications such as remote surgery and driverless cars. Additionally, LEO satellites have wider coverage than higher Earth orbit satellites, making them ideal for bridging the digital divide and providing ubiquitous 5G connectivity to large areas. Developments in LEO constellation technology are making deployment more affordable, facilitating market expansion.
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Based on region, North America is expected to account for the largest market share during the forecast period.
North America’s leading position in the 5G NTN market is heavily influenced by players such as SpaceX and Qualcomm. The SpaceX Starlink initiative aims to provide high-speed internet through a network of satellites in low orbit, increasing the coverage and reliability of 5G networks, especially in remote areas. Qualcomm is spearheading the advancement of 5G NTN technology by creating semiconductors and network solutions that facilitate seamless integration of satellite and terrestrial networks. The region’s dominance is supported by a focus on innovation, significant investments in 5G infrastructure, and supportive policy initiatives. The world will have approximately 1.76 billion 5G connections by the end of 2023, with an additional 700 million connections, representing a growth rate of 66%.
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