Dublin, Aug. 25, 2023 (GLOBE NEWSWIRE) -- The "5G From Space Market by Components (Hardware and Services), Application(Enhanced Mobile Broadband (Embb), Ultra Reliable and Low Latency Communication (Urllc), Massive Machine-Type Communications (Mmtc)), Vertical and Region - Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The 5G from Space market is valued at USD 300 million in 2023 and is projected to reach USD 3,693 million by 2028, at a CAGR of 65.1% from 2023 to 2028
A roster of key players underscores this transformative movement, including OneWeb (UK), Omnispace (US), Qualcomm (US), Ericsson (Sweden), and Rohde & Schwarz (Germany), among others.
In the rapidly evolving landscape of telecommunications and connectivity, a revolutionary force has emerged: 5G from space. This transformative technology seamlessly merges the capabilities of satellite communication and terrestrial networks, paving the way for an era of high-speed, dependable connectivity. With boundless potential to reshape industries and facilitate a diverse array of applications, the integration of 5G from space is poised to create unprecedented opportunities.
Presently, 5G from space stands as a pivotal advancement in the realm of telecommunications, instigating a paradigm shift in how we connect and communicate. The fusion of 5G technology with satellite communication systems introduces a realm of uncharted possibilities, redefining our interactions with the world around us.
The deployment of 5G from space extends an array of benefits beyond conventional terrestrial networks. Its expansive coverage spans even the remotest and underserved regions, surmounting the challenges of deploying terrestrial infrastructure in such areas. This worldwide accessibility facilitates high-speed, low-latency connectivity, erasing the digital divide and catalyzing economic advancement and social progress.
At the forefront of 5G from space, a notable trend gains traction—the convergence of satellite communication and terrestrial networks. This trend leverages the synergistic strengths of both technologies, delivering seamless and steadfast connectivity across diverse industries. Through this integration, 5G from space amplifies coverage, augments network capacity, and elevates performance to new heights.
Based on Component, the Service is projected to register the highest during the forecast period 2023-2028
Based on components, Service is increasing demand for customized and comprehensive solutions is a major driving factor for the service segment. As businesses and industries seek to leverage the benefits of 5G from space technology, they require specialized expertise and support to implement and integrate these solutions effectively.
Service providers play a crucial role in offering tailored services such as network planning, system integration, consulting, and support, ensuring that organizations can maximize the potential of 5G from space technology to meet their specific needs.
Based on Application, the Massive Machine Type Communication (MMTC) segment is to witness the highest CAGR during Forecast Period 2023-2028
Based on Application, the 5G from the space market has been segmented into Massive Machine Type Communication (MTC). Massive Machine Type Communication (Mmtc) segment to lead the market during the forecast period 2023-2028.
Automation enables businesses to streamline processes, improve efficiency, and reduce operational costs. 5G from space technology provides the necessary connectivity to support automation by enabling seamless communication between machines and devices. This facilitates real-time data exchange, remote control, and monitoring, allowing industries such as manufacturing, logistics, and agriculture to leverage automation for increased productivity and improved operational outcomes.
The North American market is projected to contribute the largest share from 2023 to 2028 in the 5g From Space market
Based on region, North America is expected to lead the 5G from the space market from 2023 to 2028. North America is a region at the forefront of technological advancements, and several companies based in the region are driving factors for the growth of the 5G from space market. These companies are playing a significant role in developing and deploying innovative solutions, driving adoption, and shaping the industry landscape.
One such company is SpaceX, based in the United States. SpaceX's Starlink project aims to build a global satellite constellation to provide high-speed, low-latency internet access to underserved areas. By leveraging its vast satellite network, SpaceX is driving the deployment of 5G from space technology, enabling seamless connectivity in remote regions across North America and beyond.
The company's ambitious efforts and commitment to revolutionizing global connectivity make it a key driving factor for the growth of the 5G from space market in North America.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 200 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $300 Billion |
| Forecasted Market Value (USD) by 2028 | $3693 Billion |
| Compound Annual Growth Rate | 65.1% |
| Regions Covered | Global |
Premium Insights
- Increasing Demand for Iot, Global Connectivity, and Automation Activities to Drive Market
- Hardware Segment to Lead Market During Forecast Period
- Embb Segment to Lead Market During Forecast Period
- Commercial Segment to Lead Market During Forecast Period
- Aviation Segment to Lead Market During Forecast Period
Market Dynamics
Drivers
- Increasing Demand for High-Speed Internet Access
- Development of New Applications and Services
- Advances in Technology
- Space Exploration and Research
Restraints
- Global Chip Shortage
- Government Regulations on Satellite Systems in Certain Regions
Opportunities
- Increasing Need for High-Speed and Reliable Communication Networks in Remote Areas
- Promoting Economic Development
- Growing Adoption of Internet of Things
Challenges
- Impact of Latency on Real-Time Applications
- Security-Related Challenges Associated with Satellites
- Building Strong Reliability for 5G from Space
Trends/Disruption Impacting Customer Business
- Revenue Shift and New Revenue Pockets for 5G from Space
Ecosystem Analysis
- Prominent Companies
- Private and Small Enterprises
- Market Ecosystem
Technology Trends
- Revolutionary Impacts of 5G from Space on Radio Access Networks (Ran)
- Enabling Seamless Integration of 5G from Space into Core Networks
- Strengthening Security in 5G from Space
- Enabling End-To-End Quality of Service in 5G from Space
- Leveraging 5G from Space to Empower IoT Connectivity
- Leading 5G Chip Manufacturers Revolutionizing Semiconductor Market
- Satellite to Phone
Technology Analysis
- 5G-Enabled Satcom Equipment
- 5G Chip
Use Case Analysis
- Use Case: Logistics
- Use Case: Event Surge and Satellite Response
- Use Case: Maritime
- Use Case: Multi-Connectivity Environment
Impact of Megatrends
- Exploring Wide-Ranging Impact of IoT Technology
- Machine-To-Machine Communication
- Delivering Content and Streaming
- Business Impact of Global Connectivity Through 5G from Space
Innovations and Patent Applications
- Top Applicants
- Top 10 Patent Owners in 5G from Space
- Innovations and Patent Registrations
Company Profiles
Key Players
- Oneweb
- Omnispace
- Qualcomm Technologies Inc.
- Ericsson
- Rohde & Schwarz
- Lynk Global Inc.
- Sateliot
- Lockheed Martin Corporation
- Ses S.A.
- Thales Alenia Space
- Gilat Satellite Networks
- Keysight Technologies, Inc.
- Echostar Corporation
- China Aerospace Science and Technology Corporation
- Telesat
Other Players
- Kepler Communications
- Spacex
- Anritsu
- Fossa Systems
- Amazon Kuiper
- Oq Technologies
- Ast Spacemobile
- Nelco
- Gatehouse
- Zte
For more information about this report visit https://www.researchandmarkets.com/r/1y232e
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
