New York, June 15, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "5G NTN Global Market Report 2023" - https://www.reportlinker.com/p06466542/?utm_source=GNW
The global 5G NTN market is expected to grow from $3.28 billion in 2022 to $4.51 billion in 2023 at a compound annual growth rate (CAGR) of 37.56%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The 5G NTN market is expected to reach $11.72 billion in 2027 at a CAGR of 26.96%.
The 5G NTN market includes revenues earned by entities by services such as computer networking, broadcasting, systems design services, and information distribution technologies.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.The 5G NTN market consists of sales of 5G networks, including 3GPP, GEO, MEO, LEO, and HAPS.
Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
A 5G non-terrestrial network (NTN) is a wireless communication network that uses satellites, drones, or other aerial platforms to provide high-speed internet and other communication services. 5G NTN operates in space or the upper atmosphere, allowing for global coverage and increased capacity.
North America was the largest region in the 5G NTN market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main components of 5G NTN include hardware, solutions and services.Hardware refers to devices and machinery, both internal and external, that allow important tasks like input, output, storage, communication, processing, and more.
It is operated in various platforms including UAS platform, LEO platform, GEO platform and MEO platform for EMBB, URLLC and MMTC applications in end-users such as maritime, aerospace and defense, government, mining and other end-users.
The rise in connected devices is expected to propel the growth of the 5G NTN market. Any appliance that is connected to the Internet and may communicate with other devices on the network is referred to as a connected device. 5G-NTN technology provides faster download and upload speeds, reduced latency, and larger capacity than previous generations of mobile networks, making it ideal for supporting many connected devices. For instance, in January 2023, according to the report by the National Association of Insurance Commissioners, a US-based standard-setting and regulatory support organization, increasing numbers of connected devices are anticipated to go onto IoT platforms, whose value will increase from $10.3 billion in 2019 to $13.3 billion in 2025. These technologies caused a sharp rise in the number of devices connected in 2021, and it is anticipated that this number will reach 500 million by the end of 2022. Therefore, the rise in connected devices is driving the growth of the 5G NTN market going forward.
Technological advancements are the key trend gaining popularity in the 5G NTN market.Major players in the 5G NTN market are focusing on producing innovative products to strengthen their market position.
For instance, in February 2023, Samsung, a South Korea-based mobile device manufacturer, launched a new, secure, and standardized 5G non-terrestrial network.Samsung’s NTN technology will assist global telecom operators, mobile device manufacturers, and chip manufacturers in improving service interoperability and scalability.
This technology will be integrated into Samsung’s Exynos modem solutions, speeding the commercialization of 5G satellite communications and opening the road for the 6G-powered Internet of Everything (IoE).
In December 2022, E-Space, a France-based global space company, signed a definitive agreement to acquire CommAgility for an undisclosed amount.With the acquisition, CommAgility’s specialized 3GPP 5G NTN (Non-Terrestrial Networks) source code is integrated into E-Space’s vertically integrated capabilities, which allows E-Space to innovate more quickly in the areas of 5G NTN, 5G-Advanced, and 6G, as well as more quickly develop satellite payloads and customer use cases and continuously improve its space-based connectivity solutions.
CommAgility is the UK-based world’s largest independent developer of embedded signal processing and radio frequency (RF) modules designed for 4G and 5G mobile networks.
The countries covered in the 5G NTN market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the chain or as part of other products.
The 5G NTN market research report is one of a series of new reports that provides 5G NTN optical components market statistics, including 5G NTN optical components industry global market size, regional shares, competitors with a 5G NTN optical components market share, detailed 5G NTN optical components market segments, market trends and opportunities, and any further data you may need to thrive in the 5G NTN optical components industry. This 5G NTN optical components market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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