5G NTN Market worth $23.5 billion by 2028 - Exclusive Report by MarketsandMarkets™

CHICAGO, Dec. 19, 2023 /PRNewswire/ -- Non-Terrestrial Networks (NTN) for 5G are expected to see significant growth in the next years due to their greater diversity in use cases, global reach, and integration with newer technologies such as 6G. Prospective patterns encompass improved Internet of Things (IoT) connectivity, progress in satellite technology, changes in regulations, and an emphasis on sustainability. Partnerships and collaborations will be pivotal in moulding the dynamic ecosystem. As environmental concerns are taken into account, the market is anticipated to experience advancements in aerial platforms and investigate marketing tactics.

The 5G NTN Market is expected to reach USD 23.5 billion by 2028 from USD 4.2 billion in 2023, at a CAGR of 40.7 % during 2023–2028, according to a new report by MarketsandMarkets™.

Browse in-depth TOC on "5G NTN Market"

153 - Tables
39 - Figures
190 - Pages

Scope of the 5G NTN Market Report

The adoption of 5G NTN has experienced a remarkable surge in recent years; government initiatives worldwide are recognizing the significance of effective 5G NTN, investing heavily in infrastructure, and supportive policies. This includes spectrum allocation, subsidies for rural deployment, and research initiatives. The Federal Communications Commission (FCC) has auctioned off several mid-band and high-band spectrum licenses suitable for 5G NTN, encouraging private companies to invest in infrastructure and services.

Inquire Before Buying @ https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=186116188

By location, rural areas contributed the largest market share in the 5G NTN Market during the forecast period.

The growing demand for 5G and broadband services in rural areas effectively narrows the digital divide by offering high-speed internet access to consumers in these regions. Prominent industry players are actively engaged in connecting rural areas, recognizing significant opportunities to extend their reach as Internet service providers.5G NTN solutions play a pivotal role in supporting multicasting broadcasting, IoT communication, the Internet of Vehicles, and the Internet of Remote Things in rural areas where terrestrial network coverage is limited. Key applications of 5G NTN in rural settings include fixed wireless access, network resilience, wide-area connectivity, disaster management, and emergency response, collectively contributing to comprehensive and robust digital connectivity solutions for rural communities.

By application, the mMTC segment is projected to register the highest CAGR during the forecast period.

mMTC is designed to efficiently support an extensive number of online devices with high-density and extended-range capabilities. In mMTC connections, devices can intermittently broadcast small amounts of traffic to communicate with each other. The utilization of LEO satellites is favored for delivering mMTC services due to their reduced path loss and lower transmission delays. Anticipated as a key application area for 5G, mMTC holds significant promise in the realm of Internet of Things (IoT) and Machine-to-Machine (M2M) communication. The broader concept of IoT involves connecting objects, sensors, appliances, and various devices for data collection, control, and analysis. This encompasses applications in smart homes, security systems, logistics and tracking, energy management, healthcare, and diverse industrial operations. The integration of mMTC in the 5G framework is poised to play a crucial role in advancing connectivity for a myriad of IoT and M2M applications across various sectors.

Based on region, Asia Pacific is projected to register the highest CAGR during the forecast period.

Anticipated as the fastest-growing market, Asia Pacific's ascent in 5G NTN solutions is attributed to the region's embrace of new technologies, heightened investments in digital transformation, and a rising GDP. Major revenue drivers include China, South Korea, and India, which are witnessing a substantial increase in smart device users. The Ericsson Mobility Report from June 2022 forecasts a remarkable surge in 5G subscriptions, expected to reach approximately 50 million by the end of 2023. Asia Pacific, with its vast population, holds the title of the largest contributor to global mobile subscribers, poised to attract even more subscribers in the forthcoming years. The region's commitment to improving public safety, especially in disaster and emergency scenarios, further propels the adoption of 5G NTN solutions.

Top Key Companies in 5G NTN Market:

The report profiles key players such as Qualcomm Technologies, Inc. (US), SoftBank Group Corporation (Japan), Thales Group (France), Rohde & Schwarz GmbH & Co KG (Germany), Keysight Technologies, Inc (US), MediaTek Inc. (Taiwan), SES S.A. (Luxembourg), EchoStar Corporation (EchoStar) (US), SpaceX (US), AST & Science, LLC (US), ZTE Corporation (China), OneWeb (UK), GateHouse SatCom A/S (Denmark), Omnispace, LLC (US), Nelco Limited (US), Inmarsat Global Limited  (UK), Skylo Technologies (US), Globalstar, Inc  (US), Spirent Communications (Spirent) (UK), Telefonaktiebolaget LM Ericsson (Sweden), Nokia Corporation (Finland), Intelsat US LLC  (US), and Telefonica S.A. (Spain), Viasat Inc, (US), Telesat (Canada), Satelitiot (Barcelona), Kuiper Systems LLC (US ), and SpaceIoT (China).

Recent Developments:

• In September 2023, Rohde & Schwarz and Skylo Technologies are collaborating to establish a device acceptance program for Skylo's non-terrestrial network (NTN). Leveraging Rohde & Schwarz's established device test framework, they will conduct tests on NTN chipsets, modules, and devices to ensure their compatibility with Skylo's test specifications.
• In April 2023, NTT and SES partnership to leverage NTT's expertise in networking and enterprise-managed services and SES's unique O3b mPOWER satellites system to develop a new offering that will deliver reliable connectivity to enterprises.
• In February 2023, MediaTek and Skylo collaborated on the next-gen 3GPP NTN Satellite solutions for smartphones and wearables, committing to extensive stress testing between Skylo's NTN service and MediaTek's 5G modems featuring 5G NTN that meets 3GPP standards.
• 5G NTN Market Advantages:
• NTN offers the possibility of worldwide connectivity, particularly when combining satellite communication. It can reach underserved and rural places where deploying standard terrestrial networks may be difficult or financially impossible.
• For applications needing real-time communication, like autonomous vehicles, augmented reality (AR), and virtual reality (VR), 5G NTN intends to give low latency and high throughput.
• By providing redundancy through various communication routes, NTN improves network resiliency. 5G NTN can offer backup connectivity in the case that the terrestrial network fails, guaranteeing uninterrupted service availability.
• Because it provides connectivity for moving platforms like cars, ships, and aeroplanes, NTN is a good fit for mobile apps. Applications such as maritime communication, in-flight connectivity, and linked cars benefit from this mobility and flexibility.
• Where building standard terrestrial infrastructure is impossible, NTN plays a crucial role in expanding 5G coverage to distant and difficult terrain. This can be essential for tying together remote and rural areas and assisting sectors such as mining and agriculture.
• NTN can promptly offer emergency communication services in disaster-affected locations where terrestrial infrastructure may be harmed, facilitating first responder coordination and aiding in disaster recovery efforts.
• NTN enables maritime vessels at sea and aeroplanes during flights to have high-speed broadband internet connectivity. This makes travelling more enjoyable for passengers and makes it possible to provide vital information for safety, navigation, and operation

.

Report Objectives

• To determine and forecast the global 5G NTN Market by component (hardware, software, and services), platform, application, end-use industry, location and region from 2023 to 2028, and analyze the various macroeconomic and microeconomic factors that affect the market growth.
• To forecast the size of the market segments concerning five main regions: North America, Europe, Asia Pacific (APAC), Latin America, and the Middle East & Africa (MEA).
• To provide detailed information about the major factors (drivers, restraints, opportunities, and challenges) influencing the growth of the 5G NTN Market.
• To analyze each submarket with respect to individual growth trends, prospects, and contributions to the overall 5G NTN Market.
• To analyze the opportunities in the market for stakeholders by identifying the high-growth segments of the 5G NTN Market.
• To profile the key market players; provide a comparative analysis based on business overviews, regional presence, product offerings, business strategies, and key financials; and illustrate the market's competitive landscape.
• Track and analyze competitive developments in the market, such as mergers and acquisitions, product developments, partnerships and collaborations, and Research and Development (R&D) activities.

Related Reports:

5G Services Market - Global Forecast to 2028

Push to Talk Market- Global Forecast to 2028

Telecom Cloud Market- Global Forecast to 2027

Nanosatellite and Microsatellite Market- Global Forecast to 2027

Oilfield Communications Market- Global Forecast to 2025

About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America's best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.

630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441

Email: [email protected]

Research Insight: https://www.marketsandmarkets.com/ResearchInsight/5g-ntn-market.asp

Visit Our Website: https://www.marketsandmarkets.com/

Content Source: https://www.marketsandmarkets.com/PressReleases/5g-ntn.asp

Logo - https://mma.prnewswire.com/media/2297424/MarketsandMarkets_Logo.jpg

SOURCE MarketsandMarkets