5G NTN Market

5G NTN Industry worth $23.5 billion by 2028

According to a research report "5G NTN Market by Component (Hardware, Software, Services), End-use Industry (Maritime, Aerospace & Defense, Government, Mining), Application (eMBB, URLLC, mMTC), Location (Urban, Rural, Remote, Isolated), Platform and Region - Global Forecast to 2028" published by MarketsandMarkets, the 5G NTN market is expected to reach USD 23.5 billion by 2028 from USD 4.2 billion in 2023, at a CAGR of 40.7 % during 2023–2028.  

Browse 153 market data Tables and 39 Figures spread through 190 Pages and in-depth TOC on "5G NTN Market by Component (Hardware, Software, Services), End-use Industry (Maritime, Aerospace & Defense, Government, Mining), Application (eMBB, URLLC, mMTC), Location (Urban, Rural, Remote, Isolated), Platform and Region - Global Forecast to 2028"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/5g-ntn-market-186116188.html

The adoption of 5G NTN has experienced a remarkable surge in recent years; government initiatives worldwide are recognizing the significance of effective 5G NTN, investing heavily in infrastructure, and supportive policies. This includes spectrum allocation, subsidies for rural deployment, and research initiatives. The Federal Communications Commission (FCC) has auctioned off several mid-band and high-band spectrum licenses suitable for 5G NTN, encouraging private companies to invest in infrastructure and services.

By location, rural areas contributed the largest market share in the 5G NTN market during the forecast period.

The growing demand for 5G and broadband services in rural areas effectively narrows the digital divide by offering high-speed internet access to consumers in these regions. Prominent industry players are actively engaged in connecting rural areas, recognizing significant opportunities to extend their reach as Internet service providers.5G NTN solutions play a pivotal role in supporting multicasting broadcasting, IoT communication, the Internet of Vehicles, and the Internet of Remote Things in rural areas where terrestrial network coverage is limited. Key applications of 5G NTN in rural settings include fixed wireless access, network resilience, wide-area connectivity, disaster management, and emergency response, collectively contributing to comprehensive and robust digital connectivity solutions for rural communities.

By application, the mMTC segment is projected to register the highest CAGR during the forecast period.

mMTC is designed to efficiently support an extensive number of online devices with high-density and extended-range capabilities. In mMTC connections, devices can intermittently broadcast small amounts of traffic to communicate with each other. The utilization of LEO satellites is favored for delivering mMTC services due to their reduced path loss and lower transmission delays. Anticipated as a key application area for 5G, mMTC holds significant promise in the realm of Internet of Things (IoT) and Machine-to-Machine (M2M) communication. The broader concept of IoT involves connecting objects, sensors, appliances, and various devices for data collection, control, and analysis. This encompasses applications in smart homes, security systems, logistics and tracking, energy management, healthcare, and diverse industrial operations. The integration of mMTC in the 5G framework is poised to play a crucial role in advancing connectivity for a myriad of IoT and M2M applications across various sectors.

Based on region, Asia Pacific is projected to register the highest CAGR during the forecast period.

Anticipated as the fastest-growing market, Asia Pacific's ascent in 5G NTN solutions is attributed to the region's embrace of new technologies, heightened investments in digital transformation, and a rising GDP. Major revenue drivers include China, South Korea, and India, which are witnessing a substantial increase in smart device users. The Ericsson Mobility Report from June 2022 forecasts a remarkable surge in 5G subscriptions, expected to reach approximately 50 million by the end of 2023. Asia Pacific, with its vast population, holds the title of the largest contributor to global mobile subscribers, poised to attract even more subscribers in the forthcoming years. The region's commitment to improving public safety, especially in disaster and emergency scenarios, further propels the adoption of 5G NTN solutions.

Key Players

The report profiles key players such as Qualcomm Technologies, Inc. (US), SoftBank Group Corporation (Japan), Thales Group (France), Rohde & Schwarz GmbH & Co KG (Germany), Keysight Technologies, Inc (US), MediaTek Inc. (Taiwan), 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), Satelitiot (Barcelona), Kuiper Systems LLC (US ), and SpaceIoT (China).

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5G NTN Market Size,  Share & Growth Report
Report Code
TC 8514
PR Published ON
12/19/2023
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