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Satellite-based 5G Network Market Size
- Report ID: GMI9983
- Published Date: Jun 2024
- Report Format: PDF
Satellite-based 5G Network Market Size
Satellite-based 5G Network Market was valued at USD 765.3 million in 2023 and is anticipated to grow at a CAGR of over 50% between 2024 and 2032. The trend toward remote employment, virtual schools, streaming services, and digital platforms for communication has raised the need for high-speed internet.
Satellite-based 5G networks are improving connectivity in underserved and rural areas where traditional broadband is lacking. These networks enhance social connectivity, economic prospects, and information access by offering reliable fast internet. The growing demand for high-speed internet is propelling the adoption and expansion of satellite-based 5G technology, offering dependable fast internet connections globally.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| Satellite-based 5G Network Market Size in 2023: | USD 765.3 Million |
| Forecast Period: | 2024 - 2032 |
| Forecast Period 2024 - 2032 CAGR: | 50% |
| 2032 Value Projection: | USD 30 Billion |
| Historical Data for: | 2021 - 2023 |
| No. of Pages: | 210 |
| Tables, Charts & Figures: | 305 |
| Segments covered: | Satellite Type, Frequency Band, Application, Component, End User, Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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The spread of IoT devices across smart cities and various industries, such as transportation, healthcare, and agriculture, drives the need for robust connectivity solutions. In remote and hard-to-reach areas, where traditional networks are impractical, satellite-based 5G networks enable the mass deployment of IoT devices with reliable low-latency connections. As a result, efficiency, productivity, and creativity are increased across all industries through real-time data collecting, monitoring, and management. Consequently, the demand for satellite-based 5G networks is increasing to support seamless IoT integration across national borders.
High costs of deployment and upkeep are major obstacles for 5G networks based on satellites. Advanced technology, specialized equipment, and a significant cash commitment are needed to launch satellites into orbit. Furthermore, the upkeep of these satellites necessitates continuous expenditures for tracking systems, base stations, and periodic updates or repairs. The affordability of these expenses may restrict the availability and expandability of 5G services based on satellite technology. The market's potential for expansion may be hampered by the financial burden, which may discourage investment and delay the implementation of extensive worldwide coverage.
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Satellite-based 5G Network Market Scope
