Press release
Exploring the Exponential Growth of the Global 5G NTN Market: Key Players, Trends and Projections for 2024-2029
5G NTN Market
What Is The Projected Market Size Of The Global 5G NTN Market And Its Growth Rate?
• The market will grow from $3.66 billion in 2024 to $4.96 billion in 2025, with a CAGR of 35.7%.
• The growth is due to mobile data traffic surge, enhanced mobile broadband (EMBB), IoT and smart device proliferation, global standardization efforts, and emergence of edge computing.
• The projected market size for 2029 is expected to reach $17.01 billion, at a CAGR of 36.1%.
• This growth can be attributed to industry-specific use cases, Massive Machine Type Communication (MMTC), integration with satellite networks, advancements in network slicing, and commercialization of private 5g networks.
What Is Driving The Growth In The 5G NTN Market?
The increase in connected devices is fueling the 5G NTN market growth. A rise in the use of appliances connected to the internet and capable of interacting with other network devices are becoming prevalent. 5G-NTN technology, with its faster download and upload speeds, reduced latency, and greater capacity, is ideal for supporting an expanding amount of connected devices. For instance, according to a report by the National Association of Insurance Commissioners in January 2023, the number of devices connected is expected to reach 500 million by the end of 2022, driving the growth of the 5G NTN market.
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Who Are the Key Players Driving 5G NTN Market Growth?
• 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
What Are The Key Trends In The 5G NTN Market?
• 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
What Are The Segments Of The Global 5G NTN Market?
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
Which Region Leads The 5G NTN Market?
North America was the largest region in the 5G NTN market in 2024. Asia-Pacific is expected to be the fastest-growing region during the forecast period. The report covers key regions such as Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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What Is Covered In The 5G NTN Market Global Market Report?
- Market Size Analysis: Analyze the 5G NTN Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the 5G NTN Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall 5G NTN Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the 5G NTN Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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