The report “5G From Space Market Size by Components (Hardware and Services), Application(Enhanced Mobile Broadband (Embb), Ultra Reliable and Low Latency Communication (Urllc), Massive Machine-Type Communications (Mmtc)), Vertical and Region – Forecast to 2028“. The 5G from Space Market Size is valued at USD 300 million in 2023 and is projected to reach USD 3,693 million by 2028, at a CAGR of 65.1% from 2023 to 2028.
The 5G from space market report includes hardware and services, including Satellite, User Terminal, and end-user service. The emergence of “5G from space” represents a transformative integration of satellite communication and non-terrestrial networks to provide enhanced connectivity and enable a wide array of applications across various sectors. By leveraging advanced satellite systems, such as low Earth orbit (LEO), 5G from space aims to extend the capabilities of terrestrial 5G networks to even the most remote and challenging environments.
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The 5G from space market is dominated by a few globally established players such as Oneweb (UK), Omnispace (US), Qualcomm (US), Ericsson (Sweden), and Rohde & Schwarz (Germany), among others.
Browse 196 market data Tables and 43 Figures spread through 207 Pages and in-depth TOC on “5G From Space Market Size by Components (Hardware and Services), Application(Enhanced Mobile Broadband (Embb), Ultra Reliable and Low Latency Communication (Urllc), Massive Machine-Type Communications (Mmtc)), Vertical and Region – Forecast to 2028”
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5G From Space Market Dynamics
Driver: Development of new applications and services
The potential for innovative applications and services is a key driver behind the demand for 5G from Space Industry. Unlike existing satellite technologies, 5G from space has the capability to support advanced functionalities that were previously not feasible. This opens up possibilities such as real-time video streaming to aircraft and ships, allowing for enhanced communication and entertainment options. Additionally, the high-speed and low-latency connectivity provided by 5G from space can enable autonomous driving in remote areas, transforming transportation and expanding the reach of self-driving technologies. The ability of 5G from space to unlock these new applications and services is a significant motivating factor for businesses and industries seeking to leverage the potential of advanced satellite connectivity.
Challenges: The latency of 5G signals from space is higher than the latency of terrestrial 5G signals.
The latency, or the time delay in transmitting data, is generally higher for 5G signals from space compared to terrestrial 5G signals. This increased latency can pose difficulties for applications that require real-time responsiveness, such as real-time gaming, virtual reality, or remote control of critical systems. The higher latency can result in noticeable delays and affect the overall user experience in these applications. While efforts are underway to minimize latency in satellite communications through technological advancements and optimization techniques, addressing this challenge remains a priority to ensure that 5G from space can effectively support latency-sensitive applications and meet the expectations of users who require instant and seamless interactions.
OneWeb
OneWeb is a global satellite communications company that aims to provide affordable internet access to people around the world. It is focused on building a constellation of low Earth orbit satellites to deliver high-speed connectivity. With a vision of bridging the digital divide, OneWeb has attracted investments from major players such as the UK government and Bharti Global. As for its regional presence, OneWeb has a global reach, targeting both developed and developing regions to bring reliable internet services to remote areas.
Omnispace
Omnispace is a company that specializes in hybrid satellite and terrestrial communications. It aims to create a global communications network that seamlessly integrates satellite and 5G technologies. Omnispace envisions providing ubiquitous connectivity to support critical communications, IoT applications, and secure data transmission. While headquartered in the United States, Omnispace has a global outlook and is actively working on partnerships and collaborations to expand its regional presence.
The North American market is projected to contribute the largest share from 2023 to 2028 in the 5G from Space Market.
Based on region, North America is expected to lead the 5G from the space market size from 2023 to 2028. The North American segment is the region’s advanced technological landscape. The United States, in particular, is at the forefront of 5G technology development and deployment. With a strong focus on innovation and research, North America has witnessed significant investments in 5G infrastructure and satellite communication systems, which form the foundation of 5G from space technology. This advanced technological ecosystem enables the region to harness the benefits of 5G from space, facilitating seamless and reliable connectivity for businesses and consumers.
The North American segment benefits from the region’s substantial market for IoT applications and services. The proliferation of connected devices, smart homes, and industrial IoT solutions drives the demand for enhanced connectivity. 5G from space technology provides the necessary infrastructure to support these applications.
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