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DUBLIN, July 4, 2022 /PRNewswire/ — The “Global 5G Satellite Communication Market Outlook: Market Forecast By Orbit, By Satellite Solutions, By Spectrum, By End-Users, By Regions And Competitive Landscape” report has been added to ResearchAndMarkets.com’s offering.
The report covers the market by orbit, satellite solutions, spectrum, end user and regions. It provides 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 to the current and future market dynamics.
The global 5G satellite commination market is anticipated to grow on the back of technologies that are rapidly evolving, increasing their potential for adoption and exploitation by vertical industries and serving advanced networking requirements. The number of 5G connections is set to increase from approximately 10 million in 2019 to 1.01 billion in 2023, reflecting a CAGR of 217.2%.
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.
The global 5G satellite communication market size is projected to grow at a CAGR of 183.4% during 2021-2027. Global 5G satellite communication market is in the launch stage of industry life cycle. Some countries such as USA are taking a…
Full story available on Benzinga.com
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