Press release
Pioneering Advancements in 5G NTN Technology
The Business Research Company recently released a comprehensive report on the Global 5G NTN Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.According to The Business Research Company's, 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.
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Market Drivers and Trends:
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.
Technological advancements are the key trend gaining popularity in the 5G NTN market. Major players in the 5G NTN market are focusing on producing innovative products to strengthen their market position. For instance, in February 2023, Samsung, a South Korea-based mobile device manufacturer, launched a new, secure, and standardized 5G non-terrestrial network. Samsung's NTN technology will assist global telecom operators, mobile device manufacturers, and chip manufacturers in improving service interoperability and scalability. This technology will be integrated into Samsung's Exynos modem solutions, speeding the commercialization of 5G satellite communications and opening the road for the 6G-powered Internet of Everything (IoE).
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• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
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Major Key Players of the Market:
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
5G NTN Market 2024 Key Insights:
• The 5g ntn market will grow to $14.93 billion in 2028 at a compound annual growth rate (CAGR) of 27.1%.
• 5G Ntn Market Surge By Unleashing The Potential Through The Proliferation Of Connected Devices
• Samsung's Groundbreaking Contribution By Launching Secure And Standardized 5G Ntn Technology For Enhanced Connectivity And Future-Ready 6G Ioe
• North America was the largest region in the 5G NTN market in 2023
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