5G Non-Terrestrial Networks Market
“5G Non-Terrestrial Networks Market” in terms of revenue was estimated to be worth $4.0 billion in 2023 and is poised to reach $62.48 billion by 2031, growing at a CAGR of 41.14% from 2024 to 2031 according to a new report by InsightAce Analytic.
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Latest Drivers Restraint and Opportunities Market Snapshot:
Key factors influencing the 5G non-terrestrial networks market are:
• Technological advancement
• High network speed
• Facilitating streamlined communication platforms
The following are the primary obstacles to the 5G non-terrestrial networks market’s expansion:
• High initial investment
• Strict regulators
• Rising security threats
Future expansion opportunities for the 5G non-terrestrial networks market include:
• Satellite technology continues to progress
• Increasing investment in advanced technology
• Growing need for internet access
Market Analysis:
The 5G non-terrestrial networks growing demands for worldwide connection are driving the market’s expansion. Market growth is being propelled by the rising need for pervasive and fast connection on a global scale. Rising importance of non-terrestrial networks in recovery from emergencies and resilience and the ever-increasing sophistication of satellite technology. Improvements in constellation architectures, launch capacities, and satellite designs all contribute to 5G non-terrestrial networks booming industry.
List of Prominent Players in the 5G Non-Terrestrial Networks Market:
• Qualcomm Technologies Inc.
• Thales Group
• Softbank Group Corporation
• Keysight Technologies Inc.
• MediaTek lnc.
• ZTE Corporation
• Anritsu Corporation
• Rohde & Schwarz GmbH & Co KG
• Omnispace LLC
• EchoStar Corporation
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Recent Developments:
• In March 2024, R&S FSPN50, developed by Rohde & Schwarz, is the first VCO that can monitor voltages and phase noise up to 50 GHz. Synthesizers, VCOs, OCXOs, and DROs can be accurately characterized with the help of the R&S FSPN’s high-speed measurements.
• In Feb 2024, Qualcomm Technologies, Inc., a pioneer in 5G technology from the start, unveiled its seventh generation 5G modem-to-antenna solution, the Snapdragon® X80 5G Modem-RF System, demonstrating its commitment to innovation. With its dedicated 5G AI Processor and 5G-Advanced-ready architecture, the Snapdragon X80 has achieved numerous firsts in the world of mobile networking. These include the first 5G modem with fully integrated NB-NTN satellite communications support, a 6-antenna architecture for smartphones, 6X carrier aggregation.
• In Feb 2024, MediaTek will display a number of technological demonstrations. These will include novel instances of pre-6G ambient computing and real-time Generative AI video diffusion, as well as next-generation product highlights in NTN, 5G RedCap, and 5G CPE. Also on display will be collaborations in Dimensity Auto. Also showcased will be smartphones powered by MediaTek from some of the most renowned brands in the world.
5G Non-Terrestrial Networks Market Dynamics:
Market Drivers: Rapid Network Access
5G non-terrestrial networks have the ability to bring high-speed internet to places where there is a inadequate terrestrial infrastructure. Due to the increasing number of Internet of Things devices, 5G non-terrestrial networks can make it easier for machines in several industries, including farming, transportation, and environmental monitoring, to communicate with one another. The demand for worldwide connection is propelling the 5G non-terrestrial networks industry, particularly in rural and outlying locations where terrestrial networks are impractical. The proliferation of Internet of Things devices, the need for applications with large data transfers, and innovations in satellite technology are all factors driving this market forward.
Challenges: Expensive Initial Investment and Necessitating Intricate Regulatory
The high expense of satellite technology and infrastructure development is a major obstacle in the 5G non-terrestrial networks market. There is a large financial, technological, and spectrum allocation commitment required to build and maintain 5G non-terrestrial networks via satellites. Some businesses joining the market if the initial investment is too large. Significant obstacles to broad adoption also exist in the areas of regulation and spectrum allocation. 5G non-terrestrial networks fly in international airspace and across international borders, necessitating intricate regulatory frameworks and agreements. Spectrum licenses, regulatory approvals, and compliance, which can slow down industry expansion.
North America is Expected to Grow with the Highest CAGR During the Forecast Period
The 5G non-terrestrial networks market is likely to register a significant revenue share and develop at a rapid CAGR in the near future. This is because of a number of factors are propelling the need for 5G non-terrestrial networks solutions in this industry, including the proliferation of smart connected devices, the industrial network of everything, and the growing industrialization of 5G services. In addition, many variables are anticipated to propel the market for 5G non-terrestrial networks, including an there is a growing need for internet access in rural and underdeveloped regions and expanding use of Internet of Things devices.
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Segmentation of 5G Non-Terrestrial Networks Market-
By Component Type-
• Hardware
• Solutions
• Services
By Platform-
• Unidentified Aerial System (UAS) Platform
• Low-Earth Orbit (LEO) Satellite
• Medium Earth Orbit (MEO) Satellite
• Geosynchronous Equatorial Orbit (GEO) Satellite
By Application-
• Enhanced Mobile Broadband (EMBB)
• Ultra-Reliable Low Latency Communications (URLLC)
• Massive Machine Type Communications (MMTC)
By End-user-
• Aerospace & Defense
• Government
• It & telecom
• Mining
• Maritime
• Others.
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
• South East Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of Middle East and Africa
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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 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.
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This release was published on openPR.
