5G NTN Market worth $31.7 billion by 2029

(IT-NEWSWIRE.COM, October 22, 2024 ) The 5G NTN Market is expected to reach USD 31.7 billion by 2029 from USD 7.2 billion in 2024, at a Compound Annual Growth Rate (CAGR) of 34.7% during 2024–2029.

The 5G NTN industry is expanding due to advancements in satellite technology, especially with various types of constellations; it facilitates real-time applications like remote surgery and driverless cars by decreasing latency or the time it takes for data to transit. In addition, high-altitude platforms surpass traditional satellites when it comes to coverage and capacity. These technical advancements enable 5G networks to be expanded at a reasonable cost, driving significant market growth.

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5G NTN Market Dynamics:

Drivers:
1. Adoption of software-centric approach
2. Need to address extreme coverage extension
3. 3GPP evolution toward NTN interworking and integration
4. Growing demand for IoT
Restraints:
1. Need for radio components to be grounded.
2. Regulatory constraints
Opportunities:
1. Impact of NR-NTN integration on 5G connectivity
2. Need for NTN in evolution toward 5G and 6G
3. 5G NB-IoT NTN to contribute to global high speed

List of Top Companies in 5G NTN Market:
• Qualcomm Technologies Inc (US)
• SoftBank Group Corporation (Japan)
• Thales Group (France)
• Rohde & Schwarz GmbH & Co KG (Germany)
• Keysight Technologies Inc (US)
• MediaTek Inc. (Taiwan)
• SES S.A. (Luxembourg)
• EchoStar Corporation (US)
• SpaceX (US)
• AST SpaceMobile (US)

By offering, the hardware segment is expected to have the largest market size during the forecast period.

The 5G NTN ecosystem encompasses a variety of specialized hardware components crucial for its operation and scalability. At its core is User Equipment (UE), which includes satellite-enabled devices capable of connecting to NTN networks for seamless communication. These UEs are complemented by Satellite Gateway Stations (VSAT), pivotal nodes that facilitate bidirectional data exchange between ground stations and satellites, ensuring robust network coverage and reliability. Additionally, Base Stations act as terrestrial anchors, interfacing with NTN networks to extend coverage and manage network traffic efficiently. Together, these hardware elements form a sophisticated infrastructure that supports high-speed data transmission with low latency, crucial for real-time applications. The 5G NTN hardware market represents the largest segment due to its essential role in expanding 5G connectivity beyond terrestrial limitations, catering to diverse industries' growing demand for reliable, high-performance communication solutions across global and remote locations.

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By platform, the LEO satellite segment is expected to hold a higher growth rate during the forecast period.

The revolutionary potential of Low Earth Orbit (LEO) satellite constellations is driving the 5G NTN industry. These constellations provide several benefits over conventional choices since they orbit significantly closer to Earth. Because of their lower altitude, which significantly lowers latency, real-time applications like remote surgery and driverless cars are made possible. Furthermore, LEO satellites have more coverage than their high-orbit equivalents, which makes them ideal for closing the digital divide and providing ubiquitous 5G connection across large areas. The deployments are becoming more affordable due to developments in LEO constellation technology, driving up market expansion.

Based on region, North America is expected to hold the largest market share during the forecast period.

North America’s leading position in the 5G NTN market is significantly influenced by players like SpaceX and Qualcomm. SpaceX Starlink initiative aims to provide high-speed internet through a network of satellites in low Earth orbit, enhancing the coverage and reliability of 5G networks, especially in remote areas. Qualcomm is pioneering 5G NTN technology advancements by creating semiconductors and network solutions that facilitate the seamless integration of satellite and land-based networks. This regional dominance is backed by an emphasis on innovation, substantial investments in 5G infrastructure, and supportive policy initiatives. Globally, there were around 1.76 billion 5G connections by the end of 2023, showing a growth rate of 66% with an additional 700 million connections.

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5G NTN Market worth $31.7 billion by 2029