According to the recent study the 5G NTN Market is projected to reach an estimated $XX billion by 2028 from $XX billion in 2023, at a CAGR of 38% to 40% from 2023 to 2028. Growth in this market is primarily driven by increasing demand for 5G NTN solutions has been influenced by the need to support vessels with high data rates for applications such as video & data file transfer and increasing 3GPP advancement toward NTN connectivity & integration.
Browse XX figures / charts and XX tables in this 150 -page report to understand trends, opportunities and forecast in 5G NTN market by component (hardware, solutions, and services), platform (UAS platform, LEO satellite, MEO satellite, and GEO satellite), application (EMBB, URLLC, and MMTC), location (urban, rural, remote, and isolated), end use industry (maritime, aerospace and defense, government, and mining), and region (North America, Europe, Asia Pacific, and the Rest of the World).
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“Solutions market is expected to remain the largest segment during the forecast period.”
Based on component, the 5G NTN market is segmented into hardware, solutions, and services. Lucintel forecasts that the solutions market is expected to remain the largest segment due to the increasing use of 5G NTN for faster connectivity at a reasonable range and growing demands for 5G NTN among businesses due to its capacity to provide multi-layer communication in order to satisfy their specific requirements.
“Within the 5G NTN market, the aerospace and defense segment is expected to remain the largest end use industry”
Based on end use industry the aerospace and defense segment is expected to witness the highest growth over the forecast period due to the increasing use of technologically advanced networks by aircraft to ensure good contact with the ground and increasing need for 5G NTN systems in the defence industry to perform various procedures and surgeries.
“North America will dominate the 5G NTN market in near future”
North America will remain the largest region due to the increasing consumer preference for smart gadgets, the Industrial Internet of Everything (IIoE), and indeed the commercialization of 5G services is influencing the demand for 5G NTN in the region.
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Major players of 5G NTN market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Qualcomm, Gilat Satellite Network, SoftBank, Thales, and Thales Alena Space are among the major 5G NTN providers.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/5g-ntn-market.aspx or [email protected]