Global 5G Satellite Communication Market is estimated to be 15.2 Billion by 2029 with a CAGR of 26.0% during the forecasted period.
Published Date:January 2021
Growing data traffic across various business sectors and increasing demand for higher bandwidth along with congestion in networks, are some of the factors validating the need for network evolution. Additionally, rapid technological advancements in 5G satellite services in industries across the globe are projected to boost the global market.
The global 5G satellite communication market accounted for US$ 1.9 billion in 2020 and is estimated to be 15.2 billion by 2029 and is anticipated to register a CAGR of 26.0%. The report. "Global 5G Satellite Communication Market, By Orbits (LEO, MEO, and GEO), By Spectrum (L and S Band, C and X Band, and Ku and Ka Band), By End-user (Defense & Government, Transportation & Logistics, Aviation, Consumer Electronics, Heavy Industries, and Energy & Utilities), By Satellite Solutions (Backhaul and Tower Feed, Trunking and Head End Feed, Communication-On-The-Move, and Hybrid Multiplay), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2029”.
Key highlights:
- In January 2019, Gilat Satellite Networks Ltd., a global leader in satellite networking technology, solutions and services, declared the launch of a new powerful backhaul solution designed to deliver the high-performance required for next-generation services.
- On November 2019, SpaceX builds out satellite network with a milestone launch. SpaceX flew a reusable rocket booster for the fourth time, a milestone in space vehicle reusability. The rocket launched 60 spacecraft to expand the company’s orbital broadband network.
- On January 2020, China launched Yinhe-1 commercial low Earth orbit 5G satellite
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