The 5G From Space Market Size is valued at 189.34 Mn in 2022 and is predicted to reach 15,225.0 Mn by the year 2031 at a 63.08 % CAGR during the forecast period for 2023-2031.
5G technology is nothing but the fifth generation of mobile communication networks, succeeding 4G/LTE. Compared to its predecessors, it promises quicker data transmission speeds, lower latency, and more capacity. Because of the construction of mega-constellations of low Earth orbit (LEO) satellites, the satellite internet business has grown significantly.
Companies such as SpaceX's Starlink, OneWeb, and others have aggressively deployed satellites to give global internet access. With their large-scale deployment, there was a potential to integrate 5G technology into these satellite networks, giving increased connectivity and services to users all over the world.
However, the space industry relies on a global supply chain for components, materials, and technology. The limits on travel, personnel, and manufacturing operations imposed by the pandemic could have resulted in delays or disruptions in the manufacture and deployment of satellites and related equipment, harming the launch of 5G-enabled satellite constellations.
Competitive Landscape:
Some major key players in the 5G From Space Market:
- OneWeb (UK)
- Omnispace(US)
- Qualcomm (US)
- Ericsson (Sweden)
- Rohde &
- Schwarz (Germany)
- Lynk Global
- China Aerospace Science and Technology Corporation (CASC)
- Echostar Corporation
- SES S.A.
- Lockheed Martin Corporation
- keysight Technologies, Inc.
- Telesat
- Thales Alenia Space
- Gilat Satellite Networks
- Sateliot
Market Segmentation:
The 5G From Space Market is segmented on the basis of component, vertical, and application. Based on components, the market segments are hardware and service. The hardware segment includes satellite and user terminal. The vertical segment includes commercial and government & defence.
The commercial segment includes telecommunication, media & entertainment, business & enterprises, transportation & logistics, scientific research & development, aviation, marine, retail & consumer, and others (energy & power, healthcare, mining & construction, agriculture & forestry). Based on government & defense, the market is segmented into military and homeland security& emergency management. By application, the market is segmented into Enhanced Mobile Broadband (EMBB), Ultra-Reliable Low Latency (URLLC), and Massive Machine Type Communication (MMTC).
Based On The Component, The Service Segment Is Accounted As A Major Contributor In The 5G From Space Market
The service category is expected to hold a major share in the global 5G From Space Market in 2022. System integration services are provided by service providers, which require integrating 5G from space technologies with existing infrastructure. This service ensures the interoperability and compatibility of various systems and networks. Organizations can use system integration to maximize their investments, use their existing assets, and create a cohesive ecosystem that integrates multiple technologies and applications.
The Enhanced Mobile Broadband (EMBB) Segment Witnessed Growth At A Rapid Rate
The Enhanced Mobile Broadband (EMBB) segment is projected to grow at a rapid rate in the global 5G From Space Market. Space-based EMBB in 5G revolutionizes global mobile broadband connectivity. It offers ubiquitous coverage, high-speed data rates, data-intensive applications, and user empowerment across industries. With its revolutionary powers, eMBB in 5G from space technology is pushing global connection, bridging the digital gap, and opening up new possibilities for global communication, collaboration, and innovation.
In The Region, The Asia Pacific 5G From Space Market Holds A Significant Revenue Share
Asia Pacific, 5G From the Space Market, is expected to register the most increased market share in terms of revenue in the near future. Asia Pacific governments are actively investing in infrastructure development and digital initiatives. They understand the value of improved connectivity and digital transformation in terms of economic growth and competitiveness. These measures foster an atmosphere favourable to the acceptance and deployment of 5G from space technology, accelerating its regional expansion.
North America has been at the forefront of the Internet of Things adoption in a variety of areas, including smart cities, healthcare, transportation, and agriculture. 5G connectivity from orbit could provide continuous data transfer and communication for a vast number of IoT devices and sensors.
5G From Space Market Report Scope:
|
Report Attribute |
Specifications |
|
The Market Size Value In 2022 |
USD 189.34 Mn |
|
Revenue Forecast In 2031 |
USD 15,225.0 Mn |
|
Growth Rate CAGR |
CAGR of 63.08 % from 2023 to 2031 |
|
Quantitative Units |
Representation of revenue in US$ Million and CAGR from 2023 to 2031 |
|
Historic Year |
2019 to 2022 |
|
Forecast Year |
2023-2031 |
|
Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
|
Segments Covered |
By Components, By Verticals, By Application |
|
Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
|
Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico ;The UK; France; Italy; Spain; China; Japan; India; South Korea; South East Asia; South Korea; South East Asia |
|
Competitive Landscape |
OneWeb (UK), Omnispace (US), Qualcomm (US), Ericsson (Sweden), Rohde & Schwarz (Germany), Lynk Global, China Aerospace Science and Technology Corporation (CASC), Echostar Corporation, SES S.A., Lockheed Martin Corporation, keysight technologies, Inc., Telesat, Thales Alenia Space, Gilat Satellite Networks, Sateliot |
|
Customization Scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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