Industry 4.0, also known as the Fourth Industrial Revolution, refers to the merging of cutting-edge technologies like the Internet of Things (IoT), Artificial Intelligence (AI), robotics, quantum computing, and genetic engineering, among others. This revolution marks a transition towards a more interconnected world where the boundaries between digital and physical realities are increasingly indistinct.
As per the recent report by BIS Research, the Satellite 5G New Radio Market is expected to reach $14.47 Billion by 2033 with a CAGR of 11.92% during the forecast period 2023- 2033. The market size in 2022 was $4.58 billion.
The rollout and implementation of satellite 5G New Radio (NR) represents a significant advancement in global connectivity, combining advanced technology with space-based infrastructure to facilitate extraordinary communication and data transfer capabilities. Satellite 5G NR utilizes both low Earth orbit (LEO) and geostationary satellites, unlike traditional ground-based networks, offering extensive coverage that spans urban, rural, and isolated areas.
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Often called Smart Industry, Industry 4.0 is revolutionizing enterprises by improving and optimizing operations through real-time monitoring and control. It also facilitates the emergence of new business models, such as mass customization. Satellite 5G New Radio technology not only bridges the gap in digital access but also opens up new opportunities for sectors like telecommunications, the Internet of Things (IoT), and autonomous vehicles, among others.
The satellite 5G NR market features a mix of well-established key players who possess a deep understanding of the market, alongside emerging start-ups aiming to carve out a niche in this competitive arena.
In 2022, the market was predominantly controlled by these established companies, which held 80% of the market share, while start-ups claimed 20%. As the demand for global connectivity continues to grow each day, the number of participants in the satellite 5G NR market is expected to increase annually.
The satellite 5G NR market is predominantly driven by the telecom and IT industries, which accounted for a 30% share in 2022. This growth is fueled by the increasing need for uninterrupted global coverage and reduced latency.
Satellite 5G NR technology offers significant advantages to the telecommunications and information technology sectors, revolutionizing connectivity and creating new opportunities. A key benefit is its ability to close the connectivity gap in remote and underserved areas.
Companies like OneWeb, SpaceX, and Amazon are at the forefront, developing satellite constellations to provide broadband internet services in regions lacking ground-based infrastructure. Through satellite 5G NR, these companies can deliver high-speed, reliable, and low-latency connections, facilitating access to digital services and helping to bridge the digital divide.
Get a complete list of key players in the satellite 5G NR market in Free Sample Report.
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Most terrestrial network operators are currently concentrated on extending 5G services to regions already served by older cellular technologies. By the end of 2022, there were 229 commercial 5G terrestrial networks globally, and the distinctive capabilities of non-terrestrial networks are set to significantly broaden their coverage.
This expansion has spurred multiple public declarations concerning the development and testing of 5G services through non-terrestrial networks, particularly for these applications:
Broadband internet– Delivering high-speed, low-latency mobile broadband via satellite to remote and rural areas. Typically, this involves satellites transmitting internet signals to a dish on the user’s roof, which then relays the signal to a Wi-Fi router.
Direct-to-smartphone– The market has already seen the introduction of the first 5G NR-compatible smartphones, with many more expected in the coming years. While initial services are basic, such as emergency messaging, the progression of 5G NR promises the launch of new, high-speed services.
However, just as 5G technology in terrestrial networks is evolving from its initial deployment to achieve full gigabit speeds and millisecond latencies, non-terrestrial 5G technology must also progress through its own developmental trajectory to achieve complete integration.
The potential of 5G NR to transmit signals from space gives satellite communication a competitive advantage, offering robust, seamless global connectivity. Furthermore, the harmonization of 5G standards across both terrestrial and non-terrestrial technologies enhances interoperability, enabling users to switch between networks smoothly. This convergence offers a valuable opportunity for businesses in both domains, despite ongoing technical challenges.
