Global 5G Satellite Communication Markets, 2021-2022 & 2032: Focus on Satellite Solution Type, End User, Orbit, Spectrum Band, Services – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “5G Satellite Communication Market – A Global and Regional Analysis: Focus on Satellite Solution Type, End User, Orbit, Spectrum Band, Services, and Country – Analysis and Forecast, 2022-2032” report has been added to ResearchAndMarkets.com’s offering.

The global 5G satellite communication market was valued at $2,708.3 million in 2021 and it is estimated to reach $43,215.4 million by 2032, at a CAGR of 28.12% during the forecast period 2022-2032.

The major factor driving the market growth is the need for low latency, high-speed connectivity covering a wide geographic area.

The need for connectivity in distant and rural locations increased more during the Covid-19 pandemic. The travel restrictions, social distance regulations, and the shift to study/work from home practice further highlighted the dire need for faster and higher virtual connectivity in many parts of the world.

5G Satellite Communication Market

The 5G satellite communication refers to the integration of next-generation 5G networks with communication satellites. This integration will help realize the true high transmission speed, lower latency, and wider connectivity promised by 5G networks. Integration of satellites will also enable the possibility of implementing virtual networks (network slicing) and providing more adjusted connectivity as per requirements.

At present, the 5G satellite communication market is at a nascent stage with significant growth potential over the forecast period. Companies such as OneWeb, SpaceX, LeoSat, Amazon’s Kuiper Project, and others are competing in the new space to enable satellite connectivity for their customers in remote and rural locations.

Market Segmentation

5G Satellite Communication Market by Satellite Solution Type

The backhaul and tower feed satellite solution type is expected to lead in the 5G satellite communication market over the forecast period. Backhaul and tower feed satellite solutions provide…

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