The 5G NTN market is projected to grow from USD 3.2 billion in 2022 to USD 16.1 billion by 2027, at a CAGR of 38.2%
NEW YORK, Dec. 21, 2022 /PRNewswire/ --
The 5G NTN market is projected 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. Mining companies are implementing the latest automation technologies to improve their operations. For instance, Boliden, a Swedish mine operator, partnered with Ericsson to build an autonomous gold mine where Ericsson installed the 5G network at the mining site, and also the increasing need to support vessels with high data rates for applications, such as video and data file transfer, is driving the demand for 5G NTN solutions.
Asia Pacific to register the highest CAGR during the forecast period
The growth of the 5G NTN market in the Asia Pacific is highly driven by the existence of a large population, developing infrastructure and technology.The need to improve public safety in disaster and other emergency situations is also a major driver to adoption of 5G NTN solutionsin this region.
The region is witnessing a surge in smart infrastructures, such as smart city projects, creating a greater demand for public safety and security technologies such as surveillance systems, scanning and screening systems, and critical communication networks.Various industries such as aerospace, maritime, defense, and others are adopting integrated 5G network and satellite-based solutions to enhance network coverage in diverse locations.
In the marine industry, maritime satellite technology has been adopted to leverage advanced communication networks to establish communication with employees working at remote offshore locations.
Breakdown of primaries
In-depth interviews were conducted with Chief Executive Officers (CEOs), innovation and technology directors, system integrators, and executives from various key organizations operating in the 5G NTN market.
• By Company Type: Tier I: 25%, Tier II: 35%, and Tier III: 40%
• By Designation: C-Level Executives: 60%, and Managers: 40%
• By Region: North America: 30%, Europe: 35%, Asia Pacific: 25%, Middle East & Africa: 5%, and Latin America: 5%
The report includes the study of key players offering 5G NTN hardware, solutions, and services.It profiles major vendors in the 5G NTN market.
The major vendors 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).
The market study covers the 5G NTN market across segments.It aims at estimating the market size and the growth potential of this market across different segments, such as by component, platform, application, end-use industry, location, and region.
It includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key Benefits of Buying the Report
The report would provide the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall 5G NTN market and its subsegments.It would help stakeholders understand the competitive landscape and gain more insights better to position their business and plan suitable go-to-market strategies.
It also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
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