The 5G from the space market is valued at USD 300 million in 2023 and is projected to reach USD 3,693 million by 2028, at a CAGR of 65.1% from 2023 to 2028. The increased demand for global connectivity using satellite and user terminals along conflict areas and remote area, rising expenditure of emerging economies, increasing in development of communication equipment and technology in various fields like healthcare, agriculture, education, research, and development, etc. have led to the growth of the 5G from space market across the globe.
Prominent companies in this industry are primarily located in North America and Europe. OneWeb (UK), Omnispace(US), Qualcomm (US), Ericsson (Sweden), and Rohde & Schwarz (Germany) are recognized as key players in the 5G from space market. They have placed significant emphasis on developing new hardware to meet the evolving needs of 5G from space customers worldwide. To reinforce their positions in the market, these players have implemented diverse growth strategies such as introducing new products, securing contracts, forming partnerships, engaging in mergers and acquisitions, and undertaking activities related to the development of innovative solutions. These strategic endeavors have further facilitated the expansion of their presence in the 5G from space market.
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OneWeb is a global satellite communications company that aims to provide affordable internet access to people around the world. It is focused on building a constellation of low Earth orbit satellites to deliver high-speed connectivity. With a vision of bridging the digital divide, OneWeb has attracted investments from major players such as the UK government and Bharti Global. As for its regional presence, OneWeb has a global reach, targeting both developed and developing regions to bring reliable internet services to remote areas.
Omnispace is a company that specializes in hybrid satellite and terrestrial communications. It aims to create a global communications network that seamlessly integrates satellite and 5G technologies. Omnispace envisions providing ubiquitous connectivity to support critical communications, IoT applications, and secure data transmission. While headquartered in the United States, Omnispace has a global outlook and is actively working on partnerships and collaborations to expand its regional presence.
Qualcomm is a leading semiconductor and telecommunications equipment company. It is primarily known for its advancements in wireless technologies and the development of mobile processors. With its expertise in 5G technology, Qualcomm plays a crucial role in driving the global adoption of high-speed wireless connectivity. The company has a strong presence worldwide, with offices and partnerships in various regions to support the deployment of its technologies.
Ericsson is a multinational networking and telecommunications company based in Sweden. It is one of the world's leading providers of telecommunications equipment and services. Ericsson offers a wide range of solutions, including network infrastructure, software platforms, and services to enable seamless communication and connectivity. With a global presence, Ericsson serves customers in more than 180 countries, providing support for both mobile network operators and enterprises across different regions.
Rohde & Schwarz
Rohde & Schwarz is a German company specializing in test and measurement, secure communications, and broadcasting equipment. It provides solutions for a wide range of industries, including wireless communications, aerospace, defense, and broadcasting. Rohde & Schwarz has a significant regional presence across Europe, the Americas, Asia, and the Middle East. Its products and services are trusted by governments, regulatory bodies, and commercial enterprises worldwide, making it a key player in the field of communication technology.
5G From Space Market by Components (Hardware and Services), Application(Enhanced Mobile Broadband (Embb), Ultra Reliable and Low Latency Communication (Urllc), Massive Machine-Type Communications (Mmtc)), Vertical and Region - Forecast to 2028
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