5G from Space Market Analysis

Component (Hardware, Services, Software)

Hardware segment is poised to account for more than 53% 5G from space market share by the end of 2037. This is majorly due to the development and deployment of satellite infrastructure, which involves a significant investment in satellite payload, antenna, and ground station. In November 2023, Lockheed Martin developed the payload 5G.MIL, which was aimed at improving military communication systems. As more countries and private enterprise investments in space-based 5G networks are expected to continue expanding, so will the demand for highly sophisticated hardware solutions, thereby acting as a driver for segment growth.

Application (Enhanced Mobile Broadband (eMBB), Ultra-Reliable Low Latency Communications (URLLC), Massive Machine, Type Communications (mMTC), Fixed Wireless Access (FWA))

By 2037, ultra-reliable low latency communications (URLLC) segment is estimated to capture over 44% 5G from space market share, as it enables applications that require real-time communication with no delay. Segments like these see a massive demand for industries such as autonomous driving, telemedicine, and defense since even milliseconds of latency could result in major consequences. In July 2022, Qualcomm and Thales demonstrated the key role of URLLC in the announcement of a collaboration on testing 5G networks on Earth-orbiting satellites. Consequently, it is expected that more industries will use URLLC for mission-critical operations, pushing the demand for this segment further upwards.

Our in-depth analysis of the market includes the following segments: