Press release
5G From Space Market Report on the Untapped Growth Opportunities in the Industry
According to the latest research by InsightAce Analytic, the Global 5G From Space Market Size is valued at 308.62 Mn in 2024 and is predicted to reach 45184.33 Mn by the year 2034 at a 64.83% CAGR during the forecast period for 2025-2034.
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5G networks play a pivotal role in supporting governments and policymakers in the transformation of cities into smart cities, enabling residents to participate in and benefit from the socioeconomic advantages of a digital, data-driven economy. This progression compels governments to invest in and upgrade critical infrastructure, including fiber optic networks and data centers. The growth of the Internet of Things (IoT) has amplified the need for enhanced connectivity to accommodate a growing number of devices.
5G technology, delivered via satellite, is well-positioned to address these evolving demands. Furthermore, the increasing volatility of geopolitical conflicts has underscored the importance of integrating non-terrestrial technologies, particularly for defense forces. Advanced 5G satellite communication systems can enhance decision-making and strategic capabilities within defense agencies. The challenge of providing connectivity in remote and hard-to-reach areas, such as deserts, oceans, and mountainous regions, is a key driver for the development of satellite-enabled IoT solutions in the defense sector.
List of Prominent Players in the 5G From Space Market:
• OneWeb (U.K.)
• Omnispace(US)
• Qualcomm (U.S.)
• Ericsson (Sweden)
• Rohde &
• Schwarz (Germany)
• Lynk Global
• China Aerospace Science and Technology Corporation (CASC)
• Echostar Corporation
• SES S.A.
• Lockheed Martin Corporation
• keysight Technologies, Inc.
• Telesat
• Thales Alenia Space
• Gilat Satellite Networks
• Sateliot
Market Dynamics:
Drivers-
5G satellite communication technologies offer the potential to provide affordable internet and connectivity to previously underserved and remote regions worldwide. Governments, defense sectors, commercial industries, and individuals are keen to leverage the latest advancements in network and satellite technology to establish connectivity in areas where terrestrial networks are unavailable. These factors collectively contribute to the growth of the market.
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Challenges:
One of the primary challenges of 5G satellite communication is the increased latency, or time delay, associated with transmitting data from space, which tends to be higher than that of terrestrial 5G networks. This elevated latency can present significant issues for real-time applications such as gaming and the remote operation of critical systems, potentially leading to delays that affect user experience.
Regional Trends:
The Asia-Pacific region is expected to generate significant market revenue and exhibit a high compound annual growth rate (CAGR) in the near future for 5G satellite communication. The region has been at the forefront of adopting smart city technologies and implementing IoT solutions.
5G satellite communication holds substantial potential in supporting the vast number of IoT devices and sensors used in smart city applications, enabling fast and efficient data transfer and communication. In North America, substantial investments in 5G infrastructure and satellite communication systems-key components of 5G satellite technology-position the region to capitalize on these advancements, providing businesses and consumers with seamless and reliable connectivity.
Recent Developments:
• In Aug 2023, Dish and EchoStar decided to work together to connect people on Earth and in space. After governmental approvals were given for their all-stock deal, Dish shareholders owned 69% of the new group, and EchoStar shareholders owned the rest.
• In July 2022, Qualcomm Technologies, Inc. and Thales, a French aerospace company, intended to launch 5G onto a network of Earth-orbiting satellites. After conducting extensive research, including multiple studies and simulations, each party intended to test and validate 5G non-terrestrial networks (5G NTN) with smartphone use cases in mind.
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Segmentation of 5G From Space Market-
By Component-
• Hardware
o Satellite
o User Terminal
• Service
By Vertical-
• Commercial and Government & Defense.
o Telecommunication
o Media & Entertainment
o Business & Enterprises
o Transportation & Logistics
o Scientific Research & Development
o Aviation
o Marine
o Retail & Consumer
o Others (energy & power, healthcare, mining & construction, agriculture & forestry).
• Government & Defense
o Homeland Security& Emergency Management
o Military
By Application-
• Enhanced Mobile Broadband (EMBB)
• Ultra-Reliable Low Latency (URLLC)
• Massive Machine Type Communication (MMTC).
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• Southeast Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of the Middle East and Africa
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About Us:
InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain a competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets, and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.https://www.insightaceanalytic.com/images_data/148861653.
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