pune, Maharashtra -- (SBWIRE) -- 12/12/2023 -- The 5G from Space Market is projected to grow from USD 300 million in 2023 to USD 3,693 million by 2028, growing at a CAGR of 65.1% from 2023 to 2028. 5G from space is a revolutionary technology that combines the power of satellite communication with the capabilities of 5G networks. It provides global connectivity and high-speed, low-latency communication services from space, offering numerous benefits from various perspectives.
From a global connectivity standpoint, 5G from space technology has the potential to bridge the digital divide by extending high-speed internet access to remote and underserved areas. Traditional terrestrial networks often struggle to reach these regions, but with satellites deployed in low Earth orbit (LEO), 5G from space can provide seamless connectivity on a global scale.
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Based on Components, the Service segment is estimated to lead the 5G from the space market in 2028.
Based on Components, the service segment is estimated to lead the 5G from Space market from 2023 to 2028. service providers offer system integration services, which involve integrating 5G from space solutions with existing infrastructure. This service ensures seamless interoperability and compatibility between different systems and networks. System integration allows organizations to maximize their investments, leverage their existing assets, and create a cohesive ecosystem that integrates various technologies and applications.
Based on the Application, Enhanced Mobile Broadband (EMBB) is estimated to account for the larger share of the 5G from Space market in 2023
EMBB in 5G from space technology revolutionizes global mobile broadband connectivity. It enables ubiquitous coverage, provides high-speed data rates, supports data-intensive applications, and empowers users across industries. With its transformative capabilities, eMBB in 5G from space technology is driving global connectivity, bridging the digital divide, and opening up new possibilities for communication, collaboration, and innovation on a global scale.
The Asia Pacific market is projected to grow at the highest CAGR during the forecast period in 2028 in the 5G from space market.
Governments in the Asia Pacific region are actively investing in infrastructure development and digital initiatives. They are recognizing the importance of advanced connectivity and digital transformation for economic growth and competitiveness. These initiatives create a conducive environment for the adoption and deployment of 5G from space technology, further fueling its growth in the region.
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Key Market Players
The 5G from space companies are dominated by a few globally established players such as Oneweb (UK), Omnispace(US), Qualcomm (US), Ericsson (Sweden), and Rohde & Schwarz (Germany) among others, are the key manufacturers that secured 5G from space. A major focus was given to the contracts and new product development due to the changing requirements of commercial, homeland security, and defense & space users across the world.