Role of Satellite in a 5G Delivery Architecture

The 5G satellite communication market by orbit includes geosynchronous earth orbit, medium earth orbit and low earth orbit. The low earth orbit segment is expected to dominate the global 5G satellite communication market with a market share of approximately 42.23% in 2021. Its market size is estimated to be $555.0 million in 2021 and is projected to reach $6,977.8 million by 2030, registering a CAGR of 28.81% in the forecast period 2021-2030. However, the geosynchronous earth orbit segment is anticipated to emerge as the second-dominant segment by 2030, growing at the CAGR of 29.99% in the forecast period

The consumer electronics market size is estimated to be at $397.3 million in 2021 and is projected to reach $5,201.8 million by 2030, registering a CAGR of 29.33% from 2021 to 2030. The high demand from this end user is due to the increasing technology driven population and their addiction to the smartphones. As 5G satellite services will deliver high speed and low latency, the consumers are more inclined towards using it for applications entertainment apps and maps for navigation. Moreover, the increasing use of virtual reality and augmented devices such as headsets will enhance user experience. For a continuous improvement of AR and VR, both require a cheaper, high capacity network with low latency and high consistency. Thus, 5G satellite communication cater it by providing high speed data at low latency for providing rich experience.

North America is expected to dominate the 5G satellite communication market with a share of 35.23% in 2021. Its total market is estimated to be $463.0 million in 2021 and is projected to reach $6,662.6 million by 2030, registering a CAGR of 30.56% during the period 2021-2030. The U.S. is expected to one of the prominent countries in the world, and it is expected to record the highest market revenue of $463.0 million in 2021 and is projected to cross $6,496.0 million by 2030.

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Asia-Pacific, including major countries, such as China, India, Japan, Australia, and South Korea, is expected to be the second most prominent region for the 5G satellite communication market. The 5G satellite communication market in Asia-Pacific is estimated to be $398.5 million in 2021 and is expected to grow at a CAGR of 29.33% during the forecast period 2019-2024. In Asia-Pacific, China is expected to hold the major market share 47.90% in 2021 at the highest CAGR of 28.99% during the forecast period. This region is growing at a much faster rate as compared to North America and Europe due to constant efforts by the government for the development of the 5G technology.

Prominent players in the 5G satellite communication market adopted strategies of partnerships and collaborations, contracts, agreements, and other key strategies to expand their business. The companies are also involved in some of the projects that include demonstration, integration, and business expansion. Due to the intensive competition, the 5G satellite communication market requires telecom operators to constantly innovate and develop cost-effective services for 5G with the integration of satellite. The existing companies as well as new entrants aim to develop 5G satellite communication networks in the adherence with the existing and forthcoming industry standards for various end-user applications.