The size of the 5G NTN market was USD 3,495 million in 2022, and will reach USD 25,184 million by 2030, progressing at a rate of 28% in the years to come
This is because of the growing 5G infra, increasing requirement for low latency connectivity by the consumers in urban and out-of-town locations, high-speed, growing mobile data traffic, and mounting government efforts for improving 5G’s reach to the people.
LEO satellites will grow the fastest in the future, because of the need for enhanced network coverage, high expenditure by government and tech giants, and the growing trend of integration of 5G in satellite communications.
Also, the LEO component can also improve services, such as tracking containers, and cutting-edge drone operations.
Aerospace and defense will grow the fastest in the future. This is owing to the high spending of the government on the defense sector, increasing tech advancements for personnel safety and pin-point accuracy, and rising rate of digitization.
Furthermore, maritime industry is a significant contributor in the market because of the fact that the sector is suffering from an absence of connectivity and path visibility. With ships plying on the ocean, they don’t always have dependable connectivity, resulting in an unbalanced supply chain of commodities, further creating the necessity for continuous 5G connectivity.
Solutions dominated the 5G NTN market in 2022, and the trend will continue in the future as well.
This is because of the growing requirement of operators for delivering exceptional connectivity, with the use of 5G-based technologies, accompanied by lower cost of expenses; and the increasing count of players offering test solutions for inspecting the affordability, reliability, and efficiency of the system before launching them into the space.
Furthermore, companies invest profoundly for performing these tests, which further powers the requirement for the related solutions.
North America led the industry in the past, and the trend will continue like this in the years to come as well, as stated by P&S Intelligence. This has a lot to do with the presence of numerous players emerging and offering 5G communication solutions, and high 5G use.
APAC will grow the fastest with a rate of about 30% by the end of this decade, as a result of the increasing use of internet, mounting requirement for improved network connectivity, budding base of the consumers for high-speed internet, increasing investment by international players and governments in the telecom industry, and growing number of satellite launches.
It is because of the deployment of the 5G infrastructure all over the globe, the demand for 5G NTN will continue to grow in the years to come.
