Connect with us

5G

5G connections set to increase to 1.01 billion in 2023

The report covers the market by orbit, satellite solutions, spectrum, end user and regions. It provides detailed analysis of the on-going trends, opportunities/high growth areas, market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics, according to Research and Markets.

The global 5G satellite commination market is anticipated to grow on the back of technologies that are rapidly evolving, increasing their potential for adoption and exploitation by vertical industries and serving advanced networking requirements. The number of 5G connections is set to increase from approximately 10 million in 2019 to 1.01 billion in 2023, reflecting a CAGR of 217.2%.

Factors substantiating the need for network evolution include rising demand for higher bandwidth and increasing data traffic across various business sectors, as well as network congestion. Also, rapid technological advancements in 5G satellite services in industries around the world are expected to drive the market. As a complementary solution for ubiquitous coverage, broadcast/multicast provision, aeronautical & maritime communications, emergency/disaster recovery, and remote rural region coverage, satellite communication would play an important role in 5G deployment.

The global 5G satellite communication market size is projected to grow at a CAGR of 183.4% during 2021-2027. Global 5G satellite communication market is in the launch stage of industry life cycle. Some countries such as USA are taking a commercial approach whereas others such as China are government led and include investment and engagement of national companies and resources while launching 5G services. 5G provides the ultimate opportunity for the satellite industry to break out of its niche and for satellite service providers to offer a much wider range of services, while enabling mobile and fiber operators to leverage satellite connectivity to expand their coverage areas and offload their networks through critical functionalities like multicasting, backhauling, and mobility access where satellite is a better access technology. Within by orbit, low earth orbit would dominate the market as the time needed for data to be sent and returned i.e. latency, is lower for LEO satellites than for those farther out. Also, they are ultra-reliable and provide ubiquitous services.

Region analysis
By region, Asia Pacific 5G Satellite Communication Market acquired more than 44% of the market share in terms of revenue. They are projected to show significant growth during the forecast period owing to technology innovation and implementation of 5G satellite in space lead by China- which alone is estimated to contribute more than 55% into the Asia Pacific 5G satellite communication market. On the other end of the spectrum implementation of 5G in USA is leading estimation for Americas 5G satellite communication market.

Spectrum analysis

Within spectrum, Ku & Ka band offers wide bandwidth i.e. five times more than the C band which would lead them to dominate the market especially in the consumer electronics segment in the forthcoming years in majority of countries. Within end user, transportation and logistics and consumer electronics would acquire the majority of Global 5G satellite communication market share in the revenue terms, with self-driving vehicles becoming a reality, V2V (Vehicle to Vehicle) and V2I (Vehicle to Infrastructure) advances would help make autonomous driving algorithms safer and more reliable. Also, with increased connectivity and technology usage in the consumer electronics sector through IoT, AI, robotics, AR/VR and other technologies would transform the industry.

CT Bureau

Click to comment

You must be logged in to post a comment Login

Leave a Reply

 

Copyright © 2022 Communications Today

error: Content is protected !!