5G Satellite Communication Market is estimated to be US$ 7.7 billion by 2032; Technological Advancement to Fuel Industrial Growth

Satellite Communication is the use of artificial satellites that provides communication links between various points on earth and plays an important role in global telecommunications system. Role of satellite in developing 5G network is to provide low latency data and high speed to cellular towers. Internet, radio, telephone, television and military applications are examples of satellite communication.

Emergence of 5G Satellite Communication services for IoT (Internet of Things), has become the major factor in target market growth. Rising number of IoT devices and adoption of edge computing has further facilitated the target market growth. Furthermore, increasing demand for satellite communication solution from aviation industries to improve air traffic management and airline operations is expected to boost the demand for 5G Satellite Communication market over the forecast period.

The report “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 2032”

 Key Highlights:

• In February 2023, Samsung launched standardized 5G NTN (non-terrestrial) modem technology to enable direct communication between satellites and smartphones. The company has planned to integrate this new technology into Exynos modern solutions and will accelerate process of commercialization of 5G satellite communications.
• In January 2023, Qualcomm launched “Snapdragon’ satellite, the world’s first satellite-based solution capable of supporting two-way messaging for premium smartphones based on flagship ‘Snapdragon 8 Gen 2 Mobile Platform’.

Analyst View:

The key factor driving the growth of the 5G Satellite Communication market is increasing demand for 5G Satellite Communication. Increase in customer broadband demand and need for corporate enterprise network has further become the major contribution in target market growth. Further, growth in space development missions by many space organizations and continuous development in technology is anticipated to boost the demand for 5G Satellite Communication market growth in coming years. As a result, market competition is intensifying, and both big international corporations and start-ups are vying to establish position in the market.

Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on “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 2032”

Key Market Insights from the report:

5G Satellite Communication Market accounted for US$ 2.8 billion in 2022 and is estimated to be US$ 7.7 billion by 2032 and is anticipated to register a CAGR of 10.0%. The 5G Satellite Communication Market is segmented based on Orbits, Spectrum, By End-user, Satellite Solutions, and Region.

• Based on Orbits, 5G Satellite Communication Market is segmented into LEO, MEO, and GEO.
• Based on Spectrum, 5G Satellite Communication Market is segmented into L and S Band, C and X Band, and Ku and Ka Band.
• Based on End-user, 5G Satellite Communication Market is segmented into Defense & Government, Transportation & Logistics, Aviation, Consumer Electronics, Heavy Industries, and Energy & Utilities.
• Based on Satellite Solutions, 5G Satellite Communication Market is segmented into Backhaul and Tower Feed, Trunking and Head End Feed, Communication-On-The-Move, and Hybrid Multiplay.
• By Region, the 5G Satellite Communication Market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East & Africa.

Competitive Landscape & their strategies of 5G Satellite Communication Market:

The prominent players operating in the 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, and others.

The market provides detailed information regarding the 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 frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in 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 a 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

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