Chicago, July 24, 2024 (GLOBE NEWSWIRE) -- The global 5G NTN Market size is projected to grow from USD 7.2 billion in 2024 to USD 31.7 billion by 2029 at a Compound Annual Growth Rate (CAGR) of 34.7% during the forecast period, according to a new report by MarketsandMarkets™. 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.

Browse in-depth TOC on "5G NTN Market"

154 - Tables
54 - Figures
231 - Pages

Download Report Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=186116188

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)

Get Sample Report @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=186116188

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.

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.

Inquire Before Buying @ https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=186116188

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.

Browse Adjacent Markets: Mobility and Telecom Market Research Reports & Consulting

Get access to the latest updates on 5G NTN Companies and 5G NTN Industry

About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Rohan Salgarkar
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.