5G Satellite Communication Market is at Nascent Stage with Significant Growth Potential

FREMONT, Calif. - Aug. 26, 2022 - PRLog -- In the current market, satellite capacity is growing faster as next-generation satellite technology is evolving to multi-orbit constellations. This includes non-geostationary orbit (NGSO) constellations and very high throughput satellite (VHTS). These advancements are catering to the 5G satellite communication market as customer demands are growing with new verticals and geographic markets opening to satellite communication.

Report Overview is available at: https://bisresearch.com/industry-report/global-5g-satellite-communication-market.html

Currently, the U.S., China, and South Korea are leading the deployment and building of 5G technology. Moreover, telecommunication companies across the world, such as AT&T Inc., KT Corp, and China Mobile, are racing to build the fifth generation (5G) of wireless technology. Over the 2022-2032 forecast period, North America and Asia-Pacific regions are expected to dominate the global market, followed by Europe and the Rest-of-the-World.

Commercial end-user demand for 5G satellite connectivity is generated mainly from sectors like logistics and shipping, oil and gas, and automotive. Most countries in Europe and other developed parts of the world are shifting to electric and hybrid automobiles owing to climate change concerns. In December 2021, Intelsat, Kymeta, and Fraunhofer IIS announced that they had conducted the first-ever successful trial of satellite-enabled 5G services on a moving vehicle.

Download the Sample Report of 5G Satellite Communication Market at: https://bit.ly/3R9zKRM

The report is a compilation of various segmentations, including market breakdown by application, product, and region. The report offers key driving and restraining forces for the market as well as the opportunities in different applications across the leading countries. In the extensive primary research process undertaken for this study, the sources include industry experts and key executives from prominent companies and organizations across the 5G satellite communication market supply chain.

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