Satellite 5G New Radio (NR) refers to the integration of 5G technology with satellite communications. It enables high-speed, low-latency data transfer and connectivity in remote or underserved areas through a combination of terrestrial 5G networks and satellite infrastructure. This innovation extends 5G capabilities to regions lacking traditional network coverage, supporting various applications like IoT, broadband access, and critical communication services.
The global satellite 5G NR market is estimated to reach $14.47 billion in 2033 from $4.58 billion in 2022, at a growth rate of 11.92% during the forecast period 2023–2033.
The worldwide telecoms sector has seen a substantial increase in the implementation of 5G networks in recent years, which promise extraordinary data speeds, reduced latency, and increased network capacity. As traditional terrestrial networks struggle to reach remote and rural areas, satellite-based 5G NR technologies have emerged as a feasible alternative for expanding 5G coverage internationally. This has created new potential for satellite operators and technology suppliers to engage with terrestrial network operators to provide global seamless 5G connectivity.
Furthermore, the rapid use of IoT technology in a variety of industries, including agriculture, transportation, healthcare, and smart cities, has created a huge demand for dependable and ubiquitous connections. One key advantage of satellite 5G NR technology is that it provides ubiquitous coverage, allowing IoT devices to function in difficult and distant areas.
Satellite-based 5G NR solutions are expected to play a critical role in supporting and strengthening IoT ecosystems as companies continue to embrace digital transformation and harness IoT for greater efficiency and production.
1 GHz to 6 GHz Frequency Segment to Lead the Global Satellite 5G NR Market (by Frequency Band)
The 1 GHz to 6 GHz frequency band is expected to dominate the market with a value of $2.06 billion in 2022 and is projected to reach $6.37 billion by 2033.
Additionally, the frequency band type segment includes below 1 GHz and above 6 GHz segments. These frequency bands provide solutions for achieving global coverage and lowering latency. The capabilities of these different frequency bands are continuously being enhanced via the development and integration of newer technologies.
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Also, the convergence of satellite and 5G technologies has promoted innovation and investment in the space sector, with major stakeholders working together to build improved satellite systems capable of providing 5G NR connectivity. Furthermore, advances in satellite technology have resulted in the deployment of high-throughput satellites (HTS) and non-geostationary orbit (NGSO) satellite constellations, which have improved the capacity and performance of satellite 5G NR networks. These advancements, together with rising demand for 5G and IoT applications, offer promising opportunities for market growth in the satellite 5G NR area.
Recent Developments in the Satellite 5G NR Market
- In July 2023, Telefonaktiebolaget LM Ericsson signed a partnership with Telia, under which both companies achieved a significant result as they successfully managed to reach geographical 5G coverage of 99 percent in Lithuania. Telia has been able to construct a national, sophisticated 5G network on 3.5 GHz and 700 MHz frequencies as a result of this partnership, providing high-speed data access across Lithuania.
- In April 2023, Nokia signed a collaboration with ORMAN and Dassault Systems. Through this collaboration, the company would enhance IoT solutions in the industry with the help of a 5G private wireless network.
- In February 2023, NEC Corporation signed a partnership with Cisco Systems, Inc. to broaden their collaborative efforts to encompass system integration solutions as well as future prospects in 5G xHaul and private 5G in order to assist clients in transforming their architecture and connecting more people and things. Under their Global Systems Integrator Agreement (GSIA), Cisco Systems, Inc. and NEC Corporation had expanded areas of collaboration with augmented solutions for scalable 5G xHaul transport networks, such as increased capabilities for end-to-end automation and routed optical networking to support operators’ 5G monetization.
Satellite 5G New Radio Market by Region
North America’s growth is driven by various activities in the U.S. and Canada, as well as increased spending by commercial organizations such as Cisco Systems, Inc., Intel Corporation, Qualcomm Technologies, Inc., and government key agencies.
Competitive Landscape
The competitive landscape of the global satellite 5G NR market consists of several organic and inorganic strategies followed by the key players to increase their market share. The strategies include product innovations, contracts, partnerships, acquisitions, and business expansions, among others.
Some of the key players in the global satellite 5G NR market include Intel Corporation, Qualcomm Technologies, Inc., SAMSUNG., and ZTE Corporation, among others. These companies are aiming for a wide range of partnerships, collaborations, agreements, and contracts to expand their operations and increase their market presence globally to generate revenues and attract new customers.
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Key Questions Answered in this Report:
- What are the futuristic trends in the global satellite 5G NR market, and how is the market expected to change over the forecast period 2023-2033?
- What are the key drivers and challenges faced by the companies that are currently working in the global satellite 5G NR market?
- How is the market expected to grow during the forecast period 2023-2033?
- What are the opportunities for companies to expand their businesses in the global satellite 5G NR market?
- Which region is expected to be leading the global satellite 5G NR market by 2033?
- What are the key developmental strategies implemented by the key players to sustain in this highly competitive market?
- What is the current and future revenue scenario of the global satellite 5G NR market?
