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The industrial aim of providing the world with fast and effective technology and telecommunication service has always been on the rise. Though the technical advancements and innovations in the telecommunication and the ICT sector have been evidently delightful in bringing in new communication variables, 5G has emerged as another success in the industry.
The satellite industry is regarded as a subset of telecommunications industry and the space industry. The satellite industry revenue falls into four major segments: with satellite service being the largest segment. The satellite services segment includes broadcast, radio, broadband amongst the consumer communication services, but also generates revenue from mobile services, enterprise services, earth observation etc.
Due to their broadcasting ability and global coverage at standard cost, satellites present an effective and robust platform for communication. In the upcoming 5G era, the future cellular and satellite communication networks should be envisioned to support efficient and flexible resources management and provide customized services to meet the service-specific high-performance requirements in a variety of use cases.
With that said 5G systems will establish and will make the system smarter and advanced by exploiting the Software Defined Networks (SDN), the Network Function Virtualizations (NFV) and the Artificial Intelligence (including Machine and Deep Learning) techniques.
Though, there is still a lot of work to be done in order to address the main issues concerning satellite communication and its potential use within a 5G environment, the standards for 5G are currently being shaped, and it is critical that they leave room and include the provisions for an integration of satellite communication with terrestrial 5G implementations.
The Global 5G Satellite Communication Market is expected to grow at a significant CAGR of over 20% on the basis of value throughout the decade.
The growth and widespread importance of this market is attributed to major relevant factors including the global increase in number of communication satellite constellations for 5G support, the emergence of 5G satellite communication services for IoT, increasing demand for satellites for different business verticals, need to resolve the bandwidth problem in the current network, rapid technological advancements in 5G satellite services etc
Though, satellite technology has been linked with proprietary solutions and being expensive, known for addressing primarily niche markets and applications, in addition to direct broadcasting. In the recent times, satellite technology has come a long way enhancing its performance, capabilities and competitiveness.
The global 5G satellite communication market is anticipated to accomplish a spectacular market growth in the coming timeframe as a result of offloading their functionalities through multi-resistant issues such as backhauling, multicasting and improved access to mobile network technology. Additionally, increase in the number of collocation centers in the developed and developing economies across the globe is expected to be a major growth driver for the 5G satellite communication in the coming years.
There are a couple of features and capabilities of satellite communication that distinguishes it from other solutions such as quick and flexible roll-out of services and provisioning connectivity, its intrinsic broadcast nature, the capability to address whole geographic regions and country groups, even continents, using very less amount of infrastructure on the ground. All these factors along with various other capabilities, position satellite communication as an interesting technology that can complement and support terrestrial solutions in delivering on the 5G promises, some of which are evidently very challenging.
However, issues related to spectrum allocation, large propagation delay and backhaul connectivity are some of the key factors that are hindering the market growth.
5G SATELLITE COMMUNICATION MARKET SEGMENTATION:
The 5G Satellite Communication market is without any doubt at its nascent stage currently, but is promising enough to be the next big thing in the global market also covering locations which were possibly out of reach of the providers previously.
Specifically, North America is expected to dominate the global 5G satellite communication market followed by other regions. Major countries such as the U.S. in the region, are the ones with the highest potentials for the 5G satellite communication market as a result of major deployment of 5G services in different sectors of the region.
FEW KEY PLAYERS IN 5G SATELLITE COMMUNICATION MARKET:
- 2019: Base Year
- 2019 to 2025: Forecast Period
Research Scope and Deliverables
Overview & Executive Summary
Market Drivers, Trends, Challenges and Opportunities
Market Size and Forecast Projections
Macroeconomic Indicators of Various Countries Impacting the Growth of the Market
Extensive Coverage of Industry Players including Recent Product Launches and Market Activities
Porter’s Five Force Analysis
Market Segmentation Analysis:
Industry report analyzes the global 5G satellite communication market by the following segments:
- Satellite Solutions
- End Users
Customization: We also offers customization’s in the industry report as per the company’s specific needs.
Key Questions Answered in the Global 5G satellite communication Industry Report
The report offers a comprehensive insight on the 5G Satellite Communication Market share, competitor landscape, market trends, growth, revenue, and key driver’s analysis with coverage of key players, top geographies, product types and end user.
Exhaustive secondary research and in-depth primary interviews with industry experts has been conducted to present qualitative and quantitative insights in the report.
We offer customizations as per client’s specific needs.