5G NTN Market Valuation Worth USD 93.6 Billion by 2032, At a 40.6% CAGR

According to a new report published by Allied Market Research, titled, "5G NTN Market, by Component (Hardware, Solution, Service), by Application (Enhanced Mobile Broadband (EMBB), Ultra Reliable and Low Latency Communications (URLCC), Massive Machine-Type Communications (MMTC)), by End User (Maritime, Aerospace and Defense, Government, Mining, Others), by Location (Urban, Rural, Remote, Isolated): Global Opportunity Analysis and Industry Forecast, 2023-2032"

The 5g ntn market was valued at $3.2 billion in 2022, and is estimated to reach $93.6 billion by 2032, growing at a CAGR of 40.6% from 2023 to 2032.

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Increasing demand for high-speed, reliable and ubiquitous connectivity is a key driver for growth in the 5G NTN market. Networks that can handle increasing amounts of data and provide seamless connectivity are needed as smartphones, IoT devices and data-heavy applications become commonplace. Moreover, the growth of the 5G NTN market is being propelled by advancements in technology in areas such as network virtualization, software-defined networking (SDN), edge computing, and network slicing. These enhancements allow for more efficient and scalable network architecture, improved network management, reduced latency, and the capability to provide tailored services for various use cases and industries. In addition, the adoption of 5G NTN is driven by industry-specific use cases and applications. Industries such as healthcare, manufacturing, automotive, logistics and entertainment are harnessing the power of 5G networks to transform their operations and provide advanced services Information applications such as telemedicine, autonomous vehicles, smart workstations and immersive media require the high speeds, low latency and reliable connectivity offered by 5G. therefore, these features are expected to drive 5G NTN market share during the forecast period.

Furthermore, major market players have undertaken various strategies to increase the competition and offer enhanced services to their customers. For instance, in December 2022, E-Space, a France-based global space company, signed a definitive agreement to acquire CommAgility for an undisclosed amount. With the acquisition, CommAgility's specialized 3GPP 5G NTN (Non-Terrestrial Networks) source code was integrated into E-Space's vertically integrated capabilities, which allowed E-Space to innovate more quickly in the areas of 5G NTN, 5G-Advanced, and 6G, as well as more quickly develop satellite payloads and customer use cases and continuously improve its space-based connectivity solutions. Moreover, in June 2023, Qualcomm Technologies, Inc. launched two modem chipsets with satellite capability: the Qualcomm® 212S Modem and the Qualcomm® 9205S Modem. The new Qualcomm® modem chipsets power off-grid industrial use cases that require standalone non-terrestrial network (NTN) connectivity or hybrid connectivity alongside terrestrial networks, and allow IoT enterprises, developers, ODMs, and OEMs to harness real-time information and insights to manage business projects. Therefore, such strategies foster the 5G NTN market growth.

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Competitive Analysis:
The competitive environment of 5G NTN Industry is further examined in the report. It includes details about the key players in the market's strengths, product portfolio, 5G NTN Market share and size analysis, operational results, and market positioning. It comprises the actions taken by the players to grow and expand their presence through agreements and entering new business sectors. Mergers and acquisitions, joint ventures, and product launches are some of the other techniques used by players.

Key Players:
Qualcomm Technologies, Inc.
Thales
ZTE Corporation
Rohde & Schwarz
MediaTek Inc.
Nokia
Telefonaktiebolaget LM Ericsson
Intelsat
Spirent Communications
Keysight Technologies and Many More

By region, North America attained the highest 5G NTN market share in 2022. The rising adoption of smart connected devices, industrial internet of everything (IIoE), and the increasing commercialization of 5G services are the prominent factors that are driving the growth of the market in the region.

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As per the insights of the top-level CXOs, 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. Furthermore, technological advancements are the major trends driving the popularity of 5G NTN market.

Key players in the 5G NTN market are focusing on innovation to strengthen their market position. In addition, the need for 5G networks is driven by the need for Internet of Things (IoT) applications and applications, such as connected homes, driverless cars, industrial automation distributed business and systems, and edge computing models enabled by 5G networks that are expanding the business.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports Insights" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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