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5G NTN Market Worth $16.1 Billion By 2027 - Exclusive Report by MarketsandMarkets™CHICAGO, Dec. 7, 2022 /PRNewswire/ -- The global 5G NTN Market is expected to grow from USD 3.2 billion in 2022 to USD 16.1 billion by 2027, at a CAGR of 38.2% during the forecast period, according to a new report by MarketsandMarkets™. Increasing adoption of digital devices in various sectors, including mining and maritime, has fuelled the adoption of 5G NTN solutions to enhance network coverage area. There has been a growing need for high-speed connectivity solutions to connect devices and machines worldwide.  Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=186116188 Browse in-depth TOC on "5G NTN Market" 168 - Tables By location, rural area is estimated to account for the largest market share in 2022 The demand for 5G and broadband in rural areas is bridging the digital divide that will provide internet access at broadband speeds for consumers in rural areas. Leading market players are actively working on connecting rural areas and have observed a huge opportunity to expand their footprint as internet connectivity providers. NTN support multicasting broadcasting, IoT communication, the internet of vehicles, internet of remote things in rural areas beyond the coverage of the terrestrial network. Fixed wireless access, network resilience, wide area connectivity, disaster management, and emergency are the key applications of 5G NTN in rural areas. Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=186116188 By application, mMTC is expected to register the fastest growth rate during the forecast period. mMTC is a 5G service capable of supporting an exceptionally high connection of online devices, high density of smart devices, and long range. Through the mMTC connections, devices can communicate with one another by occasionally broadcasting small amounts of traffic. LEO satellite is preferred to offer mMTC due to its path loss and lower transmission delay. One of the key application areas of 5G will probably be in IoT and Machine-to-Machine (M2M) communication. By platform, GEO satellite is estimated to account for the largest market share in 2022 GEO platform provides spaceborne communication that operates in a circular orbit at 35,786 kilometers above the equator of Earth. SoftBank offers skylo satellite at GEO at an altitude of 36,000 km. SoftBank has taken several steps to promote the non-terrestrial network. In June 2021, Smart Africa Secretariat and SoftBank signed MoU to provide affordable, reliable connectivity across African countries. GateHouse, a Satcom and marine software provider company, is a member of 3GPP and actively working on a non-terrestrial network with 5G standardization. Various leading players are offering test solutions for field tests of 5G NTN technology with GEO satellites. GEO platforms support the 5G NTN system to enhance network coverage in remote isolated, and underserved areas. Asia Pacific is likely to emerge as the fastest-growing market during the forecast period Due to the adoption of new technologies, increased investments in digital transformation, and rising GDP in Asia Pacific countries, the region is anticipated to have the fastest growing market for 5G NTN solutions. China, South Korea, and India are the major revenue-contributing countries in Asia Pacific. These countries have shown a significant rise in the number of smart device users. According to the Ericsson Mobility Report published in June 2022, with the rising adoption of 5G smartphones in Asian countries, 5G subscriptions are expected to increase to reach around 50 million by the end of 2023. The large population in Asia Pacific has created an extensive pool of mobile subscribers for telecom companies. The region is the largest contributor to the total number of mobile subscribers across the globe and will add more subscribers to its network in the coming years. Improving public safety in disaster and other emergency situations can also be a major driver to adopt 5G NTN solutions in this region. Speak To Our Analyst: https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=186116188 Market Players The major vendors covered in the 5G NTN Market include Qualcomm Technologies, Inc (US), Gilat Satellite Networks (Israel), SoftBank Group Corporation (Japan), Thales Group (France), Thales Alena Space (France), Rohde & Schwarz GmbH & Co KG (Germany), Keysight Technologies, Inc (US), MediaTek Inc. (Taiwan), Anritsu Corporation (Japan), SES S.A. (Luxembourg), EchoStar Corporation (EchoStar) (US), SpaceX (US), AST & Science, LLC (US), ZTE Corporation (China), OneWeb (UK), GateHouse SatCom A/S (Denmark), Omnispace, LLC (US), Nelco Limited (US), Inmarsat Global Limited (UK), Skylo Technologies (US), Globalstar, Inc (US), Spirent Communications (Spirent) (UK), Telefonaktiebolaget LM Ericsson (Sweden), Nokia Corporation (Finland), Intelsat US LLC (US), and Telefonica S.A. (Spain), Viasat Inc, (US), Telesat (Canada). Browse Adjacent Market: Mobility and Telecom Market Research Reports & Consulting Related Report Student Information System Market – Global Forecast to 2027 Supply Chain Management Market – Global Forecast to 2027 Smart Hospitality Market – Global Forecast to 2027 Artificial Intelligence Market – Global Forecast to 2027 Green Technology and Sustainability Market – Global Forecast to 2027 About MarketsandMarkets™ MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients. Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. 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