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Written by Jack » Updated on: September 07th, 2024
The TechSci Research report on the "Global 5G Non-Terrestrial Networks Market" forecasts robust growth driven by the increasing demand for better network connectivity, especially in developing countries, where enterprises seek to overcome connectivity issues with more advanced networks. The market presents opportunities for businesses to enhance turnover, efficiency, and data management across multiple sites while improving performance, reliability, and scalability. Vendors are innovating products by integrating technologies like artificial intelligence (AI), advanced robotics, and the Industrial Internet of Things (IIoT) to meet customer needs and market requirements. The evolution of 3GPP toward Non-Terrestrial Networks inter-working and integration is expected to enhance the features of 5G Non-Terrestrial Networks, further contributing to market growth.
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Workforce analytics, a process that employs data analysis to enhance workforce management and decision-making, is a key aspect of 5G Non-Terrestrial Networks. Organizations use workforce analytics to improve HR procedures such as hiring, performance evaluation, and succession planning. Businesses are increasingly adopting 5G Non-Terrestrial Networks to address common challenges such as attracting, developing, and retaining top talent, lack of data-driven decision-making, and the need for better insight into the future. Innovations in analytical software and HR processes are expected to further enhance the features of 5G Non-Terrestrial Networks.
The Global 5G Non-Terrestrial Networks market is segmented based on component type, platform, application, location, end-user, region, and competitive landscape. The Low-Earth Orbit (LEO) Satellite platform dominates the market and is expected to maintain its dominance, driven by rapid adoption of 5G Non-Terrestrial Networks solutions and integration of 5G in satellite communications to improve network coverage. The Aerospace and Defense end-user segment is expected to register the fastest growth, driven by the use of Non-Terrestrial Networks for high-speed, reliable internet connections during flights and military operations.
Key market players in the global 5G Non-Terrestrial Networks market include:
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North America shows substantial growth prospects for the 5G Non-Terrestrial Networks Market, driven by benefits such as improved network connectivity, reduced network costs, increased market reach, and enhanced operating efficiency. Asia Pacific is forecast to be the fastest-growing region, with increasing 5G penetration and industrial developments.
The report, titled "5G Non-Terrestrial Networks Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F," provides comprehensive market intelligence to assist decision-makers in making informed investment decisions. It identifies emerging trends, drivers, challenges, and opportunities in the global 5G Non-Terrestrial Networks market, facilitating strategic planning for stakeholders.
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