PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1322925
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1322925
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 5G from space is an emerging and transformative technology that combines the power of satellite communication with terrestrial networks to provide seamless, high-speed, and reliable connectivity. This integration holds immense potential to revolutionize various industries and enable a wide range of applications.
In August 2021, Gilat Satellite Networks developed the multi-application SkyEdge II-c platform. This high-performance platform enables satellite service providers to support any market.
In the present scenario, 5G from space represents a significant advancement in telecommunications and connectivity. The convergence of 5G technology with satellite communication systems is opening up new possibilities and transforming the way we connect, communicate, and interact with the world around us.
The deployment of 5G from space offers several advantages over traditional terrestrial networks. It provides extensive coverage, reaching remote and underserved areas where the deployment of terrestrial infrastructure is challenging or economically unviable. This global reach ensures that even the most remote regions can benefit from high-speed, low-latency connectivity, bridging the digital divide and enabling economic growth and social development.
One prominent trend in the field of 5G from space is the increasing integration of satellite communication and terrestrial networks. This trend aims to leverage the complementary strengths of both technologies to provide seamless and reliable connectivity to users across various industries. By integrating satellite communication with terrestrial networks, 5G from space enables broader coverage, improved network capacity, and enhanced performance.
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.
Major companies profiled in the report include OneWeb (UK), Omnispace(US), Qualcomm (US), Ericsson (Sweden), and Rohde & Schwarz (Germany), among others.
This market study covers the 5G from the space market across various segments and subsegments. It aims at estimating the size and growth potential of this market across different segments based on components, verticals, applications, and regions. This study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to their product and business offerings, recent developments undertaken by them, and key market strategies adopted by them.
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall 5G from the space market. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.