5G NTN Market is forecasted to achieve a value of $93.6 billion by 2032 | CAGR 40.6%

Allied Market Research published a report, titled, "5G NTN Market Component (Hardware, Solution, and Service), Application (Near Enhanced Mobile Broadband (EMBB), Ultra Reliable and Low Latency Communications (URLCC), and Massive Machine-Type Communications (MMTC)), End User (Maritime, Aerospace and Defense, Government, Mining, and Others), and Location (Urban, Rural, Remote, and Isolated): Global Opportunity Analysis and Industry Forecast, 2022-2032."

According to the report, the global 5G NTN Market generated $3.2 billion in 2022, and is anticipated to generate $93.6 billion by 2032, witnessing a CAGR of 40.6% from 2023 to 2032.

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Prime Determinants of Growth:

The global 5G NTN market is experiencing growth due to several factors, including the growth in demand for data-intensive applications and services, the increase in the adoption of 5G devices, and the 3GPP's evolution towards NTN interworking and integration. However, meeting demand at ground stations is expected to hamper market growth. On the contrary, 5G NB-IoT NTN is contributing towards opening the world to high speed, which is likely to provide lucrative development opportunities for the 5G NTN market in the forthcoming years.

COVID-19 Scenario:

The pandemic had led to a massive increase in internet traffic as more people relied on online services for work, education, and entertainment. Furthermore, the pandemic had accelerated the pace of digital transformation in various industries. Businesses, governments, and organizations were investing more in technologies such as automation, IoT, and data analytics to adapt to changing conditions. These transformational technologies are often based on fast and reliable connectivity, with 5G NTN networks being a key enabler.
Furthermore, the economic impact of the pandemic also led to increased investment in digital infrastructure, including 5G networks. Governments, network operators, and other stakeholders recognize the importance of connectivity for economic recovery and competitiveness. Therefore, COVID-19 had a positive impact on the 5G NTN industry.

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The enhanced mobile broadband (EMBB) segment to maintain its leadership status throughout the forecast period-

Based on application, the enhanced mobile broadband (EMBB) segment held the highest market share in 2022, accounting for nearly half of the global 5G NTN market revenue, and is estimated to maintain its leadership status throughout the forecast period. The growth is attributed to the fact that the 5G NTN network supports the connection requirements of a large number of IoT devices and realizes seamless communication and data exchange. This is critical for applications such as smart cities, smart agriculture, industrial automation, and logistics, and is projected to continue to drive growth in the EMBB segment. However, the massive machine-type communications (MMTC) segment is projected to manifest the highest CAGR of 44.5% from 2023 to 2032. MMTC in 5G NTN networks can improve the coverage and connectivity of IoT devices, even in harsh environments. Deploying satellite systems, high-altitude platforms (HAPs), or unmanned aerial vehicles (UAVs) in 5G NTN deployments can ensure IoT devices can connect in remote or underserved areas.

The maritime segment to maintain its lead position throughout the forecast period-

Based on end user, the maritime segment held the highest market share in 2022, accounting for more than one-third of the global 5G NTN market revenue, and is expected to maintain its lead position throughout the forecast period. This is because 5G NTN networks provide the potential for seamless connectivity and high data transfer rates, enabling a wide range of applications and services onboard vessels. Furthermore, the maritime industry requires reliable and high-speed broadband connectivity at sea to support various applications such as vessel operations, crew welfare, passenger services, and remote monitoring. However, the aerospace and defense segment is projected to manifest the highest CAGR of 45.2% from 2023 to 2032. This is due to 5G, which enables real-time communication and high-speed data transfer between unmanned aerial systems and ground stations, thus enhancing autonomous drone capabilities in surveillance and delivery services. Moreover, 5G networks provide seamless connectivity to aircraft, allowing passengers to access high-speed internet, stream media content, and make voice and video calls during flight.

North America to maintain its dominance by 2032-

Based on region, North America held the highest market share in terms of revenue in 2022, contributing to around two-fifths of the global 5G NTN market revenue, and is expected to maintain its dominance during the forecast period. This is because the expansion of the 5G NTN market in North America is anticipated to be fueled by the high investment being implemented by industry players in research and development to deliver cost-effective high-speed communication solutions and extensive adoption of 5G technology in the U.S. Moreover, government bodies are spending a fair amount of money on this technology. However, the Asia-Pacific region is expected to witness the fastest CAGR of 45.1% from 2023 to 2032. As governments are supporting the technology, many countries have launched initiatives, regulatory frameworks, and funding programs to accelerate the adoption of 5G and promote technological advancements. Furthermore, key players in this region have adopted various initiatives to increase the growth of this technology in the 5G NTN market.

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Leading Market Players: -

Qualcomm Technologies, Inc.
Thales
ZTE Corporation
Rohde & Schwarz
MediaTek Inc.
Nokia
Telefonaktiebolaget LM Ericsson
Intelsat
Spirent Communications
Keysight Technologies

The report provides a detailed analysis of these key players in the global 5G NTN market. These players have adopted different strategies, such as partnerships, product launches, and expansion, to increase their market share and maintain dominant positions in different regions. The report is valuable in highlighting business performance, operating segments, product portfolios, and strategic moves of market players to showcase the competitive scenario.

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