Global 5G Satellite Communication Market is expected to grow at a CAGR of 28.91% during 2021-2026

According to the MarkNtel Advisors’ research report, “Global 5G Satellite Communication Market Analysis, 2021,” the market is likely to grow at 28.91% CAGR during 2021-26, due to several prominent factors, such as the surging adoption of autonomous & connected devices, high network speeds, and lower 5G latencies, thereby propelling the Global 5G Satellite Communication Market growth.

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Key questions answered in the study
1. What are the current and future trends in the Global 5G Satellite Communication Market?
2. How has the industry been evolving in terms of geography and services adoption?
3. How has the competition been shaping across the countries, followed by their comparative factorial indexing?
4. What are the key growth drivers and challenges for the Global 5G Satellite Communication Market?
5. What is the customer orientation, purchase behavior, and expectations from the Global 5G Satellite Communication Market service providers across various regions?

Low Earth Orbit (LEO) to Dominate the Market
Based on the Orbits, the 5G satellite communication market segments into medium earth orbit, geosynchronous earth orbit, and low earth orbit. Of all, the Low Earth Orbit (LEO) segment is likely to dominate the market in the forecast years. Its market size shall reach $555.0 million in the coming years and $6,977.8 million by the end of the forecast period, with a CAGR of 28.81%.

“Global 5G Satellite Communication Market Analysis, 2021” provides comprehensive, qualitative, and quantitative insights on the market potential, key factors impacting the market growth, hotspots, and opportunities available for 5G Satellite Communication providers across the globe. Moreover, the report also encompasses the key strategic imperatives for competitors' success and strategic factorial indexing to measure their capabilities on 16 parameters, which would help companies formulate 'Go to Market' strategies and identify the blue ocean for their offerings.

For detailed analysis: https://www.marknteladvisors.com/research-library/global-5g-satellite-communication-market.html

Aviation Industry to Witness Robust Market Growth
Based on the end-user, the Aviation industry is likely to witness robust market growth in the forecast years due to the constant network technology developments, which improved Machine-to-Machine communication by providing greater bandwidth and lower latency. Also, the growing influence of connectivity & safety, the evolution in smartphone technology, and high-speed internet connectivity have further significantly transformed the aviation industry. Hence, considering these factors, the aviation segment is likely to witness the fastest market growth in the coming years.

According to MarkNtel Advisors, the major leading players in the Global 5G Satellite Communication Market are Eutelsat S.A., Airbus S.A.S, Avanti Communications Group PLC, Gilat Satellite Networks, GomSpace A/S, OHB SE, Quortus, Space X, The Boeing Company, and the Thales Group.

Market Segmentation:
1. By Size (Backhaul and Tower Feed, Trunking and Head End Feed, Communication-On-the-Move, Hybrid Multiplay)
2. By Transportation Mode (Geosynchronous Earth Orbit (Large, Heavy, Extra Heavy), Medium Earth Orbit (Medium, Intermediate), Low Earth Orbit (Small, Mini, Pico, Nano, Micro), Others)
3. By Industry (Defense & Government, Aviation, Transportation & Logistics, Consumer Electronics, Heavy Industries (Construction & Mining), Energy & Utilities (Oil & Gas, Utilities (Smart Grid)), Others (Smart Cities, Banking & Retail, Healthcare, Media & Entertainment))
4. By Region (North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa)
5. By Country (U.S, Canada, Brazil, Argentina, Mexico, Germany, France, The U.K, The Netherlands, Spain, Italy, China, India, Japan, Australia, Saudi Arabia, South Africa)
6. By Competitors (Eutelsat S.A., Airbus S.A.S, Avanti Communications Group PLC, Gilat Satellite Networks, GomSpace A/S, OHB SE, Quortus, Space X, The Boeing Company, and the Thales Group.)

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MarkNtel Advisors is a leading research, consulting and data analytics firm that provides a wide range of strategic reports on diverse industry verticals to a substantial and varied client base that includes multinational corporations, financial institutions, governments, and individuals.

We specialize in niche industries and emerging geographies to support our clients in the formulation of strategies viz. Go to Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, trend analysis, etc. in around 15 industry verticals to enable our clients in identifying attractive investment opportunities and maximizing ROI through an early mover advantage.

This release was published on openPR.