5G NTN Market Poised for 36 % Growth, Set to Hit $17.01 Billion by 2029

Which drivers are expected to have the greatest impact on the over the 5g ntn market's growth?
The increment in the use of devices connected to the internet is predicted to drive the advancement of the 5G NTN market. Any gadget that is linked to the internet and is capable of communicating with other devices on the same network can be coined as a connected device. The 5G-NTN technology triumphs over previous mobile networks as it offers superior download and upload speeds, low latency, and can accommodate a greater number of devices. This feature makes it a perfect match for many connected devices. For instance, a report from the National Association of Insurance Commissioners in January 2023, a US-based organization that sets standards and offers regulatory support, forecasted that the rising number of connected devices is projected to be included in IoT platforms. These platforms' value is estimated to rise to $13.3 billion by 2025. Earlier, in 2021, there was a dramatic increase in the number of connected devices, and it is expected that this number will reach a staggering 500 million by the end of 2022. Thus, the growth in connected devices usage indirectly boosts the expansion of the 5G NTN market.

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What is the future CAGR of the 5g ntn market, and how will it impact industry expansion?
In recent times, the 5G NTN market has seen a remarkable pace of expansion. The market is forecasted to grow from a size of $3.66 billion in 2024, to reach a size of $4.96 billion in 2025, evidencing a compound annual growth rate (CAGR) of 35.7%. This surge during the historic period is due to factors such as an increase in mobile data traffic, enhanced demand for mobile broadband (EMBB), an influx of IoT and smart devices, global efforts towards standardization, and the rise of edge computing.

Anticipations for substantial expansion are in place for the size of the 5G NTN market over the forthcoming years. It's projected to inflate to $17.01 billion by 2029, with a considerable compound annual growth rate (CAGR) of 36.1%. This escalation during the prediction period can be credited to targeted industry applications, extensive machine type communication (MMTC), amalgamation with satellite networks, developments in network fragmenting, and the launching of private 5G networks. The significant trends during this prediction period include 5G network's integration with satellites, utilization of high-altitude platforms (haps), progression in edge computing, the dawn of low earth orbit (LEO) satellite groups, and deployments specific to certain industries.

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What are the most significant trends transforming the 5g ntn market today?
Innovative technological developments are becoming increasingly popular, driving trends in the 5G NTN market. Major players in this market are honing in on creating next-gen products to solidify their position within the industry. To illustrate, Samsung, a South Korean mobile device company, introduced a new and secure 5G non-terrestrial network in February 2023. This novel NTN technology by Samsung will help telecom operators, mobile device manufacturers, and chip producers globally to enhance their service interoperability and scalability. Additionally, incorporating this technology into Samsung's Exynos modem solutions will expedite the commercial use of 5G satellite communications, paving the way for a 6G-enabled Internet of Everything (IoE).

Which key market segments comprise the 5g ntn market and drive its revenue growth?
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

Subsegments:
1) By Hardware: Satellite Payloads, Antennas, Transceivers, Modems, Other Hardware Components
2) By Solutions: Network Management, Integration And Deployment Solutions, Other Solutions
3) By Services: Consulting Services, Implementation Services, Managed Services, Support And Maintenance Services

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What regions are at the forefront of 5g ntn market expansion?
North America was the largest region in the 5G NTN market in 2024.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

Who are the leading players fueling growth in the 5g ntn market?
Major companies operating in the 5G NTN market include 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

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What Is Covered In The 5G NTN Global Market Report?

• Market Size Forecast: Examine the 5g ntn market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the 5g ntn market for a structured understanding.
• Key Players Overview: Analyze major players in the 5g ntn market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the 5g ntn market.
• Segment Contributions: Evaluate how different segments drive overall growth in the 5g ntn market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the 5g ntn market.
• Industry Challenges: Identify potential risks and obstacles affecting the 5g ntn market.
• Competitive Landscape: Review strategic developments in the 5g ntn market, including expansions, agreements, and new product launches.

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