WILMINGTON, DE, UNITED STATES, October 7, 2024 /EINPresswire.com/ — The global 5g ntn market size was valued at $3.2 billion in 2022, and is estimated to reach $93.6 billion by 2032, growing at a CAGR of 40.6% from 2023 to 2032.
The expansion of the 5G NTN market is being driven by the advancement of 5G networks and the rising popularity of 5G devices. Furthermore, increased connectivity demands, the proliferation of IoT devices, and the need for faster and more reliable networks to create lucrative opportunities for the market during the forecast period.
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Increasing demand for high-speed, reliable and ubiquitous connectivity is a key driver for growth in the 5G NTN market. Networks that can handle increasing amounts of data and provide seamless connectivity are needed as smartphones, IoT devices and data-heavy applications become commonplace. Moreover, the growth of the 5G NTN market is being propelled by advancements in technology in areas such as network virtualization, software-defined networking (SDN), edge computing, and network slicing. These enhancements allow for more efficient and scalable network architecture, improved network management, reduced latency, and the capability to provide tailored services for various use cases and industries. In addition, the adoption of 5G NTN is driven by industry-specific use cases and applications. Industries such as healthcare, manufacturing, automotive, logistics and entertainment are harnessing the power of 5G networks to transform their operations and provide advanced services Information applications such as telemedicine, autonomous vehicles, smart workstations and immersive media require the high speeds, low latency and reliable connectivity offered by 5G. therefore, these features are expected to drive 5G NTN market share during the forecast period.
Furthermore, major market players have undertaken various strategies to increase the competition and offer enhanced services to their customers. For instance, 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 was integrated into E-Space’s vertically integrated capabilities, which allowed 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. Moreover, in June 2023, Qualcomm Technologies, Inc. launched two modem chipsets with satellite capability: the Qualcomm® 212S Modem and the Qualcomm® 9205S Modem. The new Qualcomm® modem chipsets power off-grid industrial use cases that require standalone non-terrestrial network (NTN) connectivity or hybrid connectivity alongside terrestrial networks, and allow IoT enterprises, developers, ODMs, and OEMs to harness real-time information and insights to manage business projects. Therefore, such strategies foster the 5G NTN market growth.
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On the basis of region, North America attained the highest 5G NTN market share in 2022. The rising adoption of smart connected devices, industrial internet of everything (IIoE), and the increasing commercialization of 5G services are the prominent factors that are driving the growth of the market in the region.
The key players profiled in the 5G NTN market analysis are Qualcomm Technologies, Inc., Thales, ZTE Corporation, Rohde & Schwarz, MediaTek Inc., Nokia, Telefonaktiebolaget LM Ericsson, Intelsat, Spirent Communications, and Keysight Technologies. These players have adopted various strategies to increase their market penetration and strengthen their position in the 5G NTN industry.
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