Growing data traffic across various business sectors and increasing demand for higher bandwidth along with congestion in networks, are some of the factors validating the need for network evolution. Additionally, rapid technological advancements in 5G satellite services in industries across the globe are projected to boost the global market.
The global 5G satellite communication market accounted for US$ 1.9 billion in 2020 and is estimated to be 15.2 billion by 2029 and is anticipated to register a CAGR of 26.0%. The report. "Global 5G Satellite Communication Market, By Orbits (LEO, MEO, and GEO), By Spectrum (L and S Band, C and X Band, and Ku and Ka Band), By End-user (Defense & Government, Transportation & Logistics, Aviation, Consumer Electronics, Heavy Industries, and Energy & Utilities), By Satellite Solutions (Backhaul and Tower Feed, Trunking and Head End Feed, Communication-On-The-Move, and Hybrid Multiplay), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2029”.
In January 2019, Gilat Satellite Networks Ltd., a global leader in satellite networking technology, solutions and services, declared the launch of a new powerful backhaul solution designed to deliver the high-performance required for next-generation services.
On November 2019, SpaceX builds out satellite network with a milestone launch. SpaceX flew a reusable rocket booster for the fourth time, a milestone in space vehicle reusability. The rocket launched 60 spacecraft to expand the company’s orbital broadband network.
On January 2020, China launched Yinhe-1 commercial low Earth orbit 5G satellite
Rise in number of IoT devices and acceptance of edge computing
Edge computing provides real-time analysis with faster response times while improving overall performance and reliability. Edge computing permits large volumes of data to be processed close to the data source. Further, edge computing helps reduce security concerns and privacy. The data produced by these Edge computing devices is also witnessing exponential growth. Growth in amounts of data generated by IoT devices and increasing demand for edge computing are projected to propel the demand for higher data speeds. 5G technologies are expected to help deliver unmatched data speeds while improving real-time data processing capabilities and enhancing the overall user experience. 5G communication is projected to work 1000 times faster than 4G while bringing down device reaction times to milliseconds.
Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on “Global 5G Satellite Communication Market”, By Orbits (LEO, MEO, and GEO), By Spectrum (L and S Band, C and X Band, and Ku and Ka Band), By End-user (Defense & Government, Transportation & Logistics, Aviation, Consumer Electronics, Heavy Industries, and Energy & Utilities), By Satellite Solutions (Backhaul and Tower Feed, Trunking and Head End Feed, Communication-On-The-Move, and Hybrid Multiplay), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2030
Key Market Insights from the report:
The global 5G satellite communication market accounted for US$ 1.9 billion in 2020 and is estimated to be 15.2 billion by 2029 and is anticipated to register a CAGR of 26.0%. The market report has been segmented on the basis of orbits, spectrum, end-user, satellite solutions, and region.
By orbits, the low earth orbit (LEO) segment is projected to lead the global 5G satellite communication market in 2021 and is expected to maintain its dominance over the forecast period..
By spectrum, the target market is classified into L and S band, C and X band, and Ku and Ka band.
By end-user, the target market is classified into defense & government, transportation & logistics, aviation, consumer electronics, heavy industries, and energy & utilities.
By satellite solutions, the target market is classified into backhaul and tower feed, trunking and head end feed, communication-on-the-move, and hybrid multiplay.
By region, Asia-Pacific accounted for the highest revenue share in the market in 2018, owing to presence of large number of companies supplying 5G satellite communication. Korea, Japan, and China in this region are the key countries from where demand is being generated, and majority of the players are located.
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The prominent player operating in the global 5G satellite communication market includes Airbus S.A.S, Eutelsat S.A., Avanti Communications Group PLC, Gomspace A/S, Gilat Satellite Networks, OHB SE, Space X, Quortus, The Boeing Company, and the Thales Group.
The market provides detailed information regarding industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory framework across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included into the report.
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Some Important Points Answered in this Market Report Are Given Below:
Explains an overview of the product portfolio, including product development, planning, and positioning
Explains details about key operational strategies with focus on R&D strategies, corporate structure, localization strategies, production capabilities, and financial performance of various companies.
Detailed analysis of the market revenue over the forecasted period.
Examining various outlooks of the market with the help of Porter’s five forces Analysis, PEST & SWOT Analysis.
Study on the segments that are anticipated to dominate the market.
Study on the regional analysis that is expected to register the highest growth over the forecast period
Key Topics Covered
Scope of the Study
Opportunity Map Analysis
Market at Glance
Market Share (%) and BPS Analysis, by Region
Heat Map Analysis
Market Presence and Specificity Analysis
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