Key Insights and Findings from the Report:
- Defense and Government sector is expected to witness substantial growth during the upcoming years. This thriving growth is accredited to the rising demand for continuous network flow in critical applications like surveillance missions, particularly across regions with difficult reachability.
- Nano Satellite attained the potential market share with tremendous growth in recent years and is expected to maintain its performance in the upcoming years. This is owing to the swiftly increasing number of research & development initiatives relating to nanosatellites by the governments of different countries worldwide.
- North America is projected to acquire substantial market shares, driven by mounting demand for an uninterrupted & continuous flow communication network, especially in the defense sector of the US, to strengthen connectivity & equipment and establish high-throughput satellite services.
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5G Satellite Communication Market Growth and Trends
The market is evolving consistently in line with the advances in technology such as IoT, AI, etc., further seeking the attention of several prominent players and governments of different countries. Additionally, extensive deployment of monitoring systems as a part of the Internet of Things (IoT) is expected in the coming years. These systems will be connected to the 5G ecosystem using M2M devices and sensors to offer diverse applications. Also, the growing demand for satellite communication in the maritime industry significantly contributes to this market. Some of the other factors contributing to the market include the augmenting demand for in-flight connectivity, favorable government initiatives for rural development, inflating disposable income levels, and extensive research and development (R&D) activities conducted by key players. Despite the lucrative growth, the industry is also witnessing challenges that are expected to adversely affect the growing industry. The rising number of space debris and space traffic congestion, coupled with growing cyber security concerns are hindering the 5G satellite communication industry. However, the growing usage of 5G satellite communications in serving encrypted and secure connectivity for military operations for intelligence gathering, surveillance, and disaster response applications is fueling the market.
Global 5G Satellite Communication Industry Segmentation
Markntel Advisors Research has segmented the 5G satellite communication industry based on:
5G Satellite Communication Solutions Outlook:
- Backhaul and Tower Feed,
- Trunking and Head End Feed,
- Communication-On-the-Move,
- Hybrid Multiplay
5G Satellite Communication Orbit Outlook:
- Geosynchronous Earth Orbit (Large, Heavy, Extra Heavy),
- Medium Earth Orbit (Medium, Intermediate),
- Low Earth Orbit (Small, Mini, Pico, Nano, Micro) and Others
5G Satellite Communication End User Outlook:
- Defense & Government,
- Aviation,
- Transportation & Logistics,
- Consumer Electronics,
- Heavy Industries (Construction & Mining),
- Energy & Utilities (Oil & Gas, Utilities (Smart Grid)), and Others (Smart Cities, Banking & Retail, Healthcare, Media & Entertainment)
5G Satellite Communication Regional Outlook:
- Asia-Pacific (China, India, Japan, South Korea, and Rest of Asia Pacific)
- North America (USA, copyright, and Mexico)
- Europe (Germany, UK, France, Russia, and Rest of Europe)
- Rest-of-the-World
List of Key Players in the 5G Satellite Communication Market
- Eutelsat S.A.,
- Airbus S.A.S,
- Avanti Communications Group PLC,
- Gilat Satellite Networks,
- GomSpace A/S,
- OHB SE,
- Quortus,
- SpaceX,
- The Boeing Company,
- Thales Group.
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Key Questions Answered in the Research Report
- What is the predicted 5G Satellite Communication market size and growth rate for the years 2023-28?
- What challenges are restricting the growth of the 5G Satellite Communication market?
- What are the key Drivers, Trends, and opportunities defining the 5G Satellite Communication market size?
- Which segment accounted for the largest market share in the 5G Satellite Communication market?
- Which region has the maximum potential for the 5G Satellite Communication market?
- Which prominent companies are leading growth in the 5G Satellite Communication market?
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