5G NTN Market Analysis by Trends, Size, Share, Growth Opportunities, and Emerging Technologies
The global 5G NTN market size is projected to be USD 25,184 million by 2030, growing at a CAGR of 28.0%, according to P&S Intelligence.
This growth can be credited to the rising need for high-speed, growing 5G infrastructure, growing mobile data traffic, low-latency connectivity by customers in suburban and urban settings, and increasing government hard work for improving 5G’s reach to consumers.
In the coming few years, LEO satellites will experience a growth at the highest rate, because of the need for better-quality network coverage, high investment by tech giants and the government, and the rising popularity of 5G addition in satellite communications. Additionally, the LEO elements can also advance services, like cutting-edge drone operations and container tracking.
In the coming few years, the aerospace & defense category will experience the fastest growth. This is mainly because of the high government investment in the defense industry, growing technological improvements for higher personnel protection and strike accuracy, and the rising digitalization rate.
Furthermore, the mushrooming demand for better-speed, dependable internet connectivity for travelers during flights and the increasing need for even communication for land and naval army procedures further generate prospects for the industry.
In 2022, the solutions category held the largest revenue share, and the category is projected to be dominant throughout the projection period. This can be credited to the growing requirement of operators in order to offer brilliant connectivity, with the usage of 5G-founded technologies, coupled with lesser operational cost; and the rising count of key players providing test solutions to examine the dependability, effectiveness, affordability of the system before introducing it in space.
Furthermore, businesses spend heavily to conduct these tests, which further boosts the demand for related solutions.
In 2022, North America held the largest 5G NTN market share, and they are also projected to be dominant throughout the projection period. This is mainly because of the existence of a large count of players emerging and providing 5G communication solutions, and high 5G dispersion in the continent.
The U.S. is the highest revenue generator for the continent, credited to the surge in the federal backing for space communications, high investment by key players in R&D, to provide lucrative high-speed communication solutions; and wide acceptance of 5G technology in the nation.
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Moreover, the increasing aerospace & defense industry, mainly because of the high government expenditure, further backs the advancement of the regional industry.
Hence, rising need for high-speed, growing 5G infrastructure, growing mobile data traffic, low-latency connectivity by customers in suburban and urban settings, and increasing government hard work for improving 5G’s reach to consumers, these are the major factors contributing in the growth of the 5G NTN market.
