Northbrook, IL 60062 -- (SBWIRE) -- 01/10/2024 -- The global 5G NTN Market size 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 research report by MarketsandMarkets™.

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.

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

153 - Tables
39 - Figures
190 – Pages

Browse Full Report: https://www.marketsandmarkets.com/Market-Reports/5g-ntn-market-186116188.html

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.

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.

Key Players

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).

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

Key Dynamic Factors For 5G NTN Market:

Developments in Satellite Technology:

Enhancing 5G NTN's capabilities required constant developments in satellite technology. Three main areas of focus were lower latency, more bandwidth, and better satellite designs.

The regulatory landscape

The 5G NTN market was significantly shaped by regulations and actions made by regulators. It was necessary for governments and regulatory agencies to set up structures that support equitable competition, distribute spectrum, and guarantee the safe and effective operation of non-terrestrial networks.

International Cooperation:

For 5G NTN to be successfully deployed, cooperation between nations, telecom providers, and satellite operators was necessary. This required coordination in the use of common resources, standardisation initiatives, and international agreements.

Network Resilience and Security:

The rollout of 5G NTN was hindered by security concerns, considering the significance of these networks in multiple industries, including vital infrastructure. One dynamic issue was making sure the networks were resilient against cyber threats and other weaknesses.

Market Rivalry:

The 5G NTN market was driven by competition between telecommunications carriers, satellite operators, and technology providers. In order to obtain a competitive advantage in terms of technology, coverage, and service offerings, companies were allocating resources into research and development.

Use Cases and Applications in Industry:

One of the most important dynamic elements was the identification and creation of certain use cases and applications for 5G NTN. Smart cities, driverless cars, the Internet of Things, and the healthcare sector were among the sectors investigating the possibilities of these networks for their particular needs.

Competitive and Segmentation Analysis:

In the highly competitive 5G NTN market, businesses are actively pursuing ways to establish a presence in this rapidly changing and dynamic sector. To stay on the cutting edge of technical breakthroughs and deliver state-of-the-art solutions, major firms are making large investments in R&D. The competition for market share and placement is intense among technology vendors, satellite operators, and telecommunications firms.

Different groups based on different characteristics are shown by the segmentation analysis of the 5G NTN market. Markets are divided geographically to account for differences in infrastructural needs, demand trends, and regulatory frameworks. Furthermore, industry vertical segmentation is widely used, with customised solutions meeting the particular requirements of industries like smart cities, healthcare, automotive, and agriculture.

Browse Other Reports:

Data Pipeline Tools Market

NLP in Education Market

AI in Project Management Market

Identity Verification Market

Multichannel Order Management Market

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: sales@marketsandmarkets.com
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