5G From Space Market By Component (Hardware, Software) , By Application (Enhanced Mobile Broadband (EMBB) , Ultra-Reliable Low Latency (URLLC) , Massive Machine Type Communication (MMTC)) : Global Opportunity Analysis and Industry Forecast, 2024-2033
5G From Space Market
The 5G from space market was valued at $315.8 million in 2023 and is projected to reach $4221.0 million by 2033, growing at a CAGR of 30% from 2024 to 2033.
5G from space involves the delivery of the latest fifth-generation (5G) wireless network connectivity through space-based infrastructure. Elements such as low earth orbit satellites and geostationary satellites are primarily used to provide ultra-fast internet speeds, low latency, and reliable connections for several devices & applications. The usage of space technologies ensures seamless mobile connectivity for users across the globe.
Increase in the adoption of smartphones, particularly in the underserved and remote areas of the globe is augmenting the growth of the 5G from space market due to surge in demand for uninterrupted connectivity. In addition, the utility of the Internet of Things-based devices in several industries such as agriculture, logistics, and healthcare fuels the requirement for a wide-coverage network, thereby propelling the development of the market. A prominent trend acquiring traction in the market is deploying spatial devices to work in tandem with the 5G infrastructure on the earth. This hybrid approach helps to prevent redundancy and improve the reliability of 5G network.
However, the capital-intensive nature of the spatial infrastructure for mobile connectivity prevents the entry of small players into the competitive market. This restrains the growth of the 5G from space market significantly. Moreover, increase in the number of satellites in space has increased concerns pertaining to debris and collisions. This has resulted in the prevalence of various operational challenges and the implementation of stringent regulations that hamper the market growth significantly. On the contrary, the ability of 5G networks to boost productivity and increase the efficiency of different businesses has made it a crucial element of the global economy. According to a blog by Wealth Formula—an online audio and video media company—the 5G technology is estimated to contribute around $1.3 trillion to the global economy. This is projected to surge investments in its infrastructure and open present lucrative opportunities for the 5G from space market.
Segment ReviewThe 5G from space market is segmented into component, application, and region. On the basis of component, the market is bifurcated into hardware and software. Depending on application, it is divided into enhanced mobile broadband (EMBB), ultra-reliable low latency (URLLC), and massive machine type communication (MMTC). Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key FindingsOn the basis of component, the hardware segment held a high share of the market in 2023.
Depending on application, the enhanced mobile broadband (EMBB) segment was the highest shareholder in 2023.
Region wise, North America was the highest revenue generator in 2023.
Competition AnalysisThe major players in the global 5G from space market include SES SA, Qualcomm Technologies, Eutelsat OneWeb, Boeing, Space X, Lockheed Martin Corporation, Ericsson, Omni Space, Rhode & Schwarz, Lynk Global, Echostar Corporation, China Aerospace Science & Technology Corporation, China Satellite Network Group Company Limited, Thales Alenia Space, Gilat Satellite Networks, Sateliot, Keysight Technologies Inc., Telesat, Kepler Communications, Anritsu, Fossa Systems, Amazon Kuiper, OQ technology, AST Space Mobile, Nelco, Gatehouse, and ZTE Corporation. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships to strengthen their foothold in the competitive market.
Key Market SegmentsBy ComponentHardware
Software
By ApplicationEnhanced Mobile Broadband (EMBB)
Ultra-Reliable Low Latency (URLLC)
Massive Machine Type Communication (MMTC)
By RegionNorth America
U.S.
Canada
Mexico
Europe
France
Germany
Italy
Spain
UK
Russia
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Australia
Thailand
Malaysia
Indonesia
Rest of Asia-Pacific
LAMEA
Brazil
South Africa
Saudi Arabia
UAE
Argentina
Rest of LAMEA
Key Market PlayersSES SA.
Qualcomm Technologies
Eutelsat OneWeb
Boeing
Space X
Lockheed Martin Corporation
Ericsson
Omni space
Rhode & Schwarz
Lynk Global
Echostar Corporation
China Aerospace Science & Technology Corporation
China Satellite Network Group Company Limited
Thales Alenia Space
Gilat Satellite Networks
Sateliot
Keysight Technologies Inc.
Telesat
Kepler Communications
Anritsu
Fossa Systems
Amazon Kuiper
OQ technology
AST Space Mobile
Nelco
Gatehouse
ZTE Corporation