Global 5G Ntn Market Size 2024, Forecast To 2033
6 Mar, 2024
The 5g ntn market size has grown exponentially in recent years. It will grow from $4.51 billion in 2023 to $5.71 billion in 2024 at a compound annual growth rate (CAGR) of 26.6%. The growth in the historic period can be attributed to mobile data traffic surge, demand for enhanced mobile broadband (embb), iot and smart devices proliferation, global standardization efforts, emergence of edge computing. The 5g ntn market size is expected to see exponential growth in the next few years. It will grow to $14.93 billion in 2028 at a compound annual growth rate (CAGR) of 27.1%. The growth in the forecast period can be attributed to industry-specific use cases, massive machine type communication (mmtc), integration with satellite networks, advancements in network slicing, commercialization of private 5g networks. Major trends in the forecast period include satellite integration with 5g networks, leveraging high-altitude platforms (haps), advancements in edge computing, emergence of low earth orbit (leo) satellite constellations, industry-specific deployments.
Global 5G NTN Market Key Driver
The rise in connected devices is expected to propel the growth of the 5G NTN market. Any appliance that is connected to the Internet and may communicate with other devices on the network is referred to as a connected device. 5G-NTN technology provides faster download and upload speeds, reduced latency, and larger capacity than previous generations of mobile networks, making it ideal for supporting many connected devices. For instance, in January 2023, according to the report by the National Association of Insurance Commissioners, a US-based standard-setting and regulatory support organization, increasing numbers of connected devices are anticipated to go onto IoT platforms, whose value would increase to $13.3 billion in 2025. These technologies caused a sharp rise in the number of devices connected in 2021, and it is anticipated that this number will reach 500 million by the end of 2022. Therefore, the rise in connected devices is driving the growth of the 5G NTN market going forward.
Get A Free Sample Of The Global 5G NTN Market ReportGlobal 5G NTN Market Segments
The 5g ntn market covered in this report is segmented –
1) By Component: Hardware, Solutions, Services
2) By Platform: UAS Platform, LEO Platform, GEO Platform, MEO Platform
3) By Application: Enhanced Mobile Broadband (EMBB), Ultra-Reliable Low-Latency Communication (URLLC), Massive Machine-Type Communications (MMTC)
4) By End-User: Maritime, Aerospace And Defense, Government, Mining, Other End-Users
By Geography:The regions covered in the 5g ntn market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
North America was the largest region in the 5G NTN market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global 5G NTN market report during the forecast period. The regions covered in the 5g ntn market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major 5G NTN Industry Players
Anritsu Corporation, AST and Science LLC, GateHouse SatCom A/S, Globalstar Inc., Gilat Satellites Network, EchoStar Corporation, Media Tek Inc., Nelco Limited, Inmarsat Global Limited, Nokia Corporation, OneWeb Network Access Associates Limited, Qualcomm Technologies Inc., Intelsat LLC, Rhode and Schwarz GmbH, Keysight Technologies Inc., Omnispace LLC, Telefonaktiebolaget LM Ericsson, Thales Group, SoftBank Group Corporation, SES S.A., ZTE Corporation, Spirent Communications, BAE Systems plc, Cobham plc, General Dynamics Corporation, Harris Corporation, Honeywell International Inc., Lockheed Martin Corporation, Northrop Grumman Corporation, Raytheon Technologies Corporation, Safran S.A., Airbus SE, Boeing Company, Bombardier Inc., Embraer S.A., General Electric Company, Rolls-Royce Holdings plc
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5G NTN Market Overview
A 5G non-terrestrial network (NTN) is a wireless communication network that uses satellites, drones, or other aerial platforms to provide high-speed internet and other communication services. 5G NTN operates in space or the upper atmosphere, allowing for global coverage and increased capacity.
5G NTN Global Market Report 2023 provides data on the global 5g ntn market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The 5g ntn market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.