Posted On: 2022-01-28
Asia-Pacific would acquire the largest market revenue share in Global 5G satellite communication market – 6Wresearch
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. By 2020-2025 there will be more than 100 High Throughput Satellite (HTS) systems using Geostationary (GEO) orbits but also mega-constellations of Low Earth Orbit (LEO) satellites, delivering Terabit per second (TBps) of capacity across the world. Satellites have a particularly important role to play bringing services to users quickly and they have three key characteristics that are critical for the success of 5G which would drive the market in future are wide area coverage, cost-effectiveness, and reliability (resilience).
According to 6Wresearch, Global 5G Satellite Communication Market size is projected to grow at a CAGR of 183.4% during 2021-2027. Asia Pacific would dominate the global 5G satellite communication market in the forecoming years as the total number of 5G base stations deployed in China are expected to reach 1.7 million by the end of 2021, thus rapid adoption of 5G services across different verticals are expected to propel the demand in this region. Heavy investments in 5G would facilitate connected devices and foster the surge of the Internet of Things (IoT) ecosystem in the world, thus, fostering the market for 5G satellite communication market across regions.
According to Shivankar Gupta, Research Associate, 6Wresearch, “Within by orbit, Low earth orbit would acquire the majority share in 5G satellite communication market owing to their superior performance and lower latency which means a higher data transfer rate and, therefore, higher performance. Also, they are expected to maintain their dominance in the forecast period owing to better signal strength.”
According to Ananya Consul, Research Associate, 6Wresearch, “Within by spectrum, Ku & Ka band offers wide bandwidth i.e. five times more than the C band which would explain their supremacy especially in the consumer electronics segment in the forecoming years. Ku and Ka band would dominate 5G satellite communication market as Ku-band is best known for its use in satellite broadcast communications and falls in the middle in terms of frequency, utilizing the approximate range of 12-18GHz of radiofrequency, whereas, Ka-band technically has a higher frequency and higher bandwidth often leading to fast connections and optimal reliability.”
The key players of the market include- Airbus S.A.S, Avanti Communications Group PLC, Eutelstat Communications SA, GomSpace Group AB, Gilat Satellite Networks Ltd., Quortus Limited, OHB SE, Space Exploration Technologies Corp. (SpaceX), The Boeing Company and Thales Group.
“Global 5G Satellite Communication Market (2021-2027)” report provides an in-depth analysis with 62 figures and 40 tables, covered in 155 pages. The report comprehensively covers the market by orbit, satellite solutions, spectrum, end user and regions. Global 5G satellite communication market report provides an unbiased and 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.