As per the report by Global Market Insights, Inc. “Worldwide 5G NTN Market was valued USD 4.2 billion in 2023 and will surpass a revenue collection of USD 79.8 billion by 2032 with an annual growth rate of 35% over 2024 to 2032.”
The market growth is due to an increasing number of companies showcasing their innovations at leading industry events. As the race to deploy 5G networks intensifies, these events serve as platforms for companies to unveil their latest technologies and solutions.
For instance, in February 2024, At MWC Barcelona, the Rohde & Schwarz booth will present a live demonstration featuring a 5G NTN-NR connection, mimicking a LEO satellite access node. This setup is engineered to emulate real-world scenarios, highlighting the potential of 5G technology to deliver connectivity in regions lacking terrestrial coverage. The NTN-NR ensures universal access to essential mobile services like voice, low data rate services, and messaging globally, particularly in environments where terrestrial network coverage is inaccessible or unfeasible, such as maritime, rural areas, and aeronautical.
With the promise of ultra-fast speeds, low latency, and massive connectivity, 5G NTN solutions are garnering significant attention from businesses across various sectors. The visibility gained through participation in these events not only drives market interest but also fosters collaboration and partnerships, fueling the growth of the 5G NTN market.
The overall 5G NTN Industry is classified based on the component, platform, application, location, end-user, and region.
Software segment will exhibit commendable growth from 2024 to 2032. As companies race to deploy 5G networks, the need for advanced software solutions to support NTN infrastructure grows. These software components play a crucial role in optimizing network performance, managing connectivity, and enabling innovative applications. With the promise of ultra-reliable, low-latency communication, the demand for robust software solutions tailored to 5G NTN requirements is on the rise, driving growth and innovation in the market.
5G NTN market share from the government segment will register a noteworthy CAGR from 2024 to 2032. With the global push for advanced connectivity, governments seek reliable communication solutions for critical applications like emergency services, defense, and infrastructure. 5G NTN offers unparalleled coverage and resilience, making it appealing to government agencies for ensuring seamless communication in remote areas or during disasters. As governments prioritize digital transformation and national security, the demand for robust NTN solutions tailored to their specific needs continues to grow, propelling the market forward.
Asia Pacific 5G NTN market will expand at a commendable CAGR from 2024 to 2032. As industries adapt to the digital era, the need for high-speed, reliable connectivity escalates. NTN, with its potential to deliver seamless communication in remote areas, is becoming increasingly indispensable. From enhancing telemedicine to powering smart cities, the applications are vast.
Moreover, with Asia Pacific leading in technological innovation and adoption, the region stands at the forefront of driving the burgeoning demand for 5G NTN services. For instance, in February 2023, Samsung Electronics from Korea, renowned for its cutting-edge semiconductor technology, revealed its achievement in obtaining standardized 5G non-terrestrial networks (NTN) modem technology. This advancement facilitated direct smartphone communication with satellites, particularly in remote regions.
Source: https://www.gminsights.com/industry-analysis/5g-ntn-market
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